Colchester, CT—06415
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Colchester, CT
As of Oct '25, the median home price in Colchester, CT is $419,000, with a year-over-year change of 4.9%. This indicates that home prices in Colchester, CT are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $419,000 | 4.9% |
| Single Family | $423,000 | 4.7% |
| Condos | $363,000 | 9.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $323,000 | 7.0% |
3 Bed | $415,000 | 4.8% |
4 Bed | $518,000 | 6.6% |
| 5 Bed | $522,000 | 7.4% |
% of Housing Stock
Rental Trends — Colchester, CT
As of July '25, Rentcast reports the average rent in Colchester, CT is $2,260, with a year-over-year rent change of -1.7%. Per bedroom, the median rent as of July '25 in Colchester, CT is 1-bedrooms: $1,300, 2-bedrooms: $1,620, 3-bedrooms: $2,810, 4-bedrooms: $3,180. The most common rental property sizes in Colchester, CT are 2-bedroom and 1-bedroom, accounting for 43.6% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,260 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,280 | $1,300 |
| 2 Bed Rent | $1,600 | $1,620 |
| 3 Bed Rent | $2,700 | $2,810 |
| 4 Bed Rent | $2,850 | $3,180 |
% of Rental Stock
Property Listings — Colchester, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Colchester, CT is 46. This is a increase of 26.0% 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 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $500,000 | 13.0% |
Listing Count | 62 | 50.0% |
| Listings as % of Homes | 0.6% | 50.0% |
Days on Market | 46 | 26.0% |
Demographics — Colchester, CT
As of the latest ACS Survey released in 2023, Colchester, CT has a population of 16,100, which has decreased by -3.4% over the past 5 years. Colchester, CT is a moderately popular place for families, as children make up 22.0% of the population. The area has a highly educated workforce, with 46.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,100 | -3.4% |
% Under 18 | 22.0% | -5.6% |
% Seniors | 18.8% | 37.2% |
% WFH | 15.1% | 208.2% |
% w/ College Degree | 46.2% | 15.5% |
As of the latest ACS Survey released in 2023, Colchester, CT is a predominantly white area, with 89.2% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Colchester, CT is hispanic, making up 5.0% of the population. Foreign-born residents account for 6.1% of the population in Colchester, CT, and this percentage has increased by 45.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.2% | -1.7% |
% Black | 2.1% | 40.0% |
% Hispanic | 5.0% | 42.9% |
% Asian | 0.7% | -69.6% |
% Foreign Born | 6.1% | 45.2% |
Mortgage and Risk — Colchester, CT
According to HUD data as of 2023, there were 322 mortgage originations in Colchester, CT, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Colchester, CT. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 322 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Colchester, CT
As of 2024, the percent of homes in Colchester, CT under the Section 8 program is 2.8%. 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 2-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Colchester, CT, because HUD payments exceed market rent, while 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 39 |
Total Units Section 8 | 39 |
% Rentals under Section 8 | 2.8% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $110 | $1,280 | $1,390 |
| 2 Bedroom | $220 | $1,600 | $1,820 |
| 3 Bedroom | -$300 | $2,700 | $2,400 |
| 4 Bedroom | $160 | $2,850 | $3,010 |
Affordability — Colchester, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $419,000 |
| Median Household Income | $120,000 |