Old Lyme, CT—06371
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Old Lyme, CT
As of Oct '25, the median home price in Old Lyme, CT is $629,000, with a year-over-year change of 3.0%. This indicates that home prices in Old Lyme, CT are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $629,000 | 3.0% |
| Single Family | $633,000 | 2.6% |
| Condos | $468,000 | 8.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $401,000 | 0.0% |
2 Bed | $485,000 | 3.2% |
3 Bed | $593,000 | 3.0% |
4 Bed | $755,000 | 2.3% |
| 5 Bed | $934,000 | 2.6% |
% of Housing Stock
Rental Trends — Old Lyme, CT
As of July '25, Rentcast reports the average rent in Old Lyme, CT is $2,950, with a year-over-year rent change of -36.6%. Per bedroom, the median rent as of July '25 in Old Lyme, CT is studios: $1,300, 1-bedrooms: $900, 2-bedrooms: $3,050, 3-bedrooms: $2,800, 4-bedrooms: $3,240. The most common rental property sizes in Old Lyme, CT are 2-bedroom and 3-bedroom, accounting for 36.7% and 30.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $2,950 |
| Studio Rent | $1,300 | $1,300 |
| 1 Bed Rent | $900 | $900 |
| 2 Bed Rent | $2,100 | $3,050 |
| 3 Bed Rent | $2,950 | $2,800 |
| 4 Bed Rent | $3,000 | $3,240 |
% of Rental Stock
Property Listings — Old Lyme, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Old Lyme, CT is 68. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,190,000 | 14.0% |
Listing Count | 67 | 6.0% |
| Listings as % of Homes | 0.7% | 6.0% |
Days on Market | 68 | 20.0% |
Demographics — Old Lyme, CT
As of the latest ACS Survey released in 2023, Old Lyme, CT has a population of 9,860, which has increased by 1.7% over the past 5 years. Old Lyme, CT is a moderately popular place for families, as children make up 18.7% of the population. The area has a highly educated workforce, with 56.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,860 | 1.7% |
% Under 18 | 18.7% | 0.0% |
% Seniors | 26.6% | -2.6% |
% WFH | 22.9% | 124.5% |
% w/ College Degree | 56.1% | -0.5% |
As of the latest ACS Survey released in 2023, Old Lyme, CT is a predominantly white area, with 89.0% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Old Lyme, CT is hispanic, making up 3.7% of the population. Foreign-born residents account for 7.4% of the population in Old Lyme, CT, and this percentage has decreased by 1.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.0% | -3.8% |
% Black | 0.3% | -72.7% |
% Hispanic | 3.7% | -11.9% |
% Asian | 2.6% | 420.0% |
% Foreign Born | 7.4% | -1.3% |
Mortgage and Risk — Old Lyme, CT
According to HUD data as of 2023, there were 238 mortgage originations in Old Lyme, CT, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Old Lyme, CT. Investor activity is low, as 1.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 238 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Old Lyme, CT
As of 2024, the percent of homes in Old Lyme, CT under the Section 8 program is 4.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Old Lyme, CT, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 21 |
Total Units Section 8 | 21 |
% Rentals under Section 8 | 4.6% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $770 | $900 | $1,670 |
| 2 Bedroom | -$60 | $2,100 | $2,040 |
| 3 Bedroom | -$310 | $2,950 | $2,640 |
| 4 Bedroom | $420 | $3,000 | $3,420 |
Affordability — Old Lyme, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $629,000 |
| Median Household Income | $127,000 |