Waterford, CT—06385
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Waterford, CT
Home Price Trends — Waterford, CT
As of Oct '25, the median home price in Waterford, CT is $413,000, with a year-over-year change of 4.2%. This indicates that home prices in Waterford, CT are increasing. According to Zillow, the 1-year price projection is 3.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $413,000 | 4.2% |
| Single Family | $429,000 | 4.4% |
| Condos | $273,000 | 7.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $236,000 | 6.3% |
2 Bed | $328,000 | 4.1% |
3 Bed | $419,000 | 4.2% |
4 Bed | $524,000 | 4.8% |
| 5 Bed | $613,000 | 4.4% |
% of Housing Stock
Rental Trends — Waterford, CT
As of July '25, Rentcast reports the average rent in Waterford, CT is $2,230, with a year-over-year rent change of -16.8%. Per bedroom, the median rent as of July '25 in Waterford, CT is 1-bedrooms: $1,590, 2-bedrooms: $2,480, 3-bedrooms: $2,710, 4-bedrooms: $3,200. The most common rental property sizes in Waterford, CT are 2-bedroom and 1-bedroom, accounting for 43.4% and 22.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,230 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,650 | $1,590 |
| 2 Bed Rent | $2,500 | $2,480 |
| 3 Bed Rent | $2,600 | $2,710 |
| 4 Bed Rent | $3,200 | $3,200 |
% of Rental Stock
Property Listings — Waterford, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Waterford, CT is 34. This is a decrease of -19.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $521,000 | 5.0% |
Listing Count | 49 | -17.0% |
| Listings as % of Homes | 0.5% | -17.0% |
Days on Market | 34 | -19.0% |
Demographics — Waterford, CT
As of the latest ACS Survey released in 2023, Waterford, CT has a population of 15,900, which has increased by 3.4% over the past 5 years. Waterford, CT is a moderately popular place for families, as children make up 19.1% of the population. The area has a moderately educated workforce, with 41.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,900 | 3.4% |
% Under 18 | 19.1% | 4.9% |
% Seniors | 22.9% | -5.8% |
% WFH | 8.8% | 79.6% |
% w/ College Degree | 41.0% | 2.8% |
As of the latest ACS Survey released in 2023, Waterford, CT is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 2.2% in the last 5 years. The second most common race or ethnicity in Waterford, CT is hispanic, making up 5.7% of the population. Foreign-born residents account for 5.9% of the population in Waterford, CT, and this percentage has decreased by 13.2% 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 | 82.7% | -2.2% |
% Black | 2.4% | -36.8% |
% Hispanic | 5.7% | -9.5% |
% Asian | 4.9% | 63.3% |
% Foreign Born | 5.9% | -13.2% |
Mortgage and Risk — Waterford, CT
According to HUD data as of 2023, there were 380 mortgage originations in Waterford, CT, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Waterford, CT. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 380 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Waterford, CT
As of 2024, the percent of homes in Waterford, CT under the Section 8 program is 2.2%. 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. In Waterford, CT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 108 |
Total Units Section 8 | 54 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$100 | $1,650 | $1,550 |
| 2 Bedroom | -$600 | $2,500 | $1,900 |
| 3 Bedroom | -$140 | $2,600 | $2,460 |
| 4 Bedroom | -$20 | $3,200 | $3,180 |
Affordability — Waterford, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $413,000 |
| Median Household Income | $110,000 |