Old Lyme, CT 06371 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Old Lyme, CT—06371

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$693,000

9.7% YoY Growth

Household Income

$127,000

35.8% YoY Growth

Days on Market

21.0% Shorter YoY

Home Price Forecast

2.9%

Median Rent

$3,000

36.6% YoY Growth

1-Bed Rent

$900

N/A

2-Bed Rent

$2,100

N/A

3-Bed Rent

$2,950

39.8% YoY Growth

Home Price Trends — Old Lyme, CT

As of May '26, the median home price in Old Lyme, CT is $693,000, with a year-over-year change of 9.7%. This indicates that home prices in Old Lyme, CT are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$693,000	9.7%
Single Family	$699,000	9.9%
Condos	$482,000	12.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

24.3%

2 Bedrooms

36.7%

3 Bedrooms

30.4%

4 Bedrooms

8.2%

5+ Bedrooms

0.4%

Property Listings — Old Lyme, CT

As of May '26, Realtor.com reports that the median days on market for a home in Old Lyme, CT is 30. This is a decrease of -21.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$1,120,000	6.0%
Listing Count	52	-29.0%
Listings as % of Homes	0.7%	-29.0%
Days on Market	30	-21.0%

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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%

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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%

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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%

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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

Old Lyme, CT—06371

Key Metrics at a Glance

Home Price Trends — Old Lyme, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Old Lyme, CT

% of Rental Stock

Property Listings — Old Lyme, CT

Demographics — Old Lyme, CT

Race and Ethnicity

Mortgage and Risk — Old Lyme, CT

Mortgages

Rentals and Section 8 — Old Lyme, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Old Lyme, CT

Home Price to Income Ratio

Old Lyme, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Essex, CT

East Lyme, CT

Old Saybrook, CT

Essex, CT

Niantic, CT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.4
Median Home Price	$693,000
Median Household Income	$127,000

Old Lyme, CT—06371

Key Metrics at a Glance

Home Price Trends — Old Lyme, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Old Lyme, CT

% of Rental Stock

Property Listings — Old Lyme, CT

Demographics — Old Lyme, CT

Race and Ethnicity

Mortgage and Risk — Old Lyme, CT

Mortgages

Rentals and Section 8 — Old Lyme, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Old Lyme, CT

Home Price to Income Ratio

Old Lyme, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Essex, CT

East Lyme, CT

Old Saybrook, CT

Essex, CT

Niantic, CT

Frequently Asked Questions

What is the average home price in Old Lyme, CT 06371?

How have home prices in Old Lyme, CT 06371 changed over the past year?

What is the home price projection for Old Lyme, CT 06371?

What are the demographics of Old Lyme, CT 06371?

How long does it take homes to sell in Old Lyme, CT 06371?

What is the average rent price in Old Lyme, CT 06371?