Cromwell, CT 06416 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Cromwell, CT—06416

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$359,000

5.2% YoY Growth

Household Income

$104,000

13.7% YoY Growth

Days on Market

10.0% Shorter YoY

Home Price Forecast

3.2%

Median Rent

$2,100

0.4% YoY Growth

1-Bed Rent

$1,000

12.3% YoY Growth

2-Bed Rent

$1,900

N/A

3-Bed Rent

$2,750

14.0% YoY Growth

Home Price Trends — Cromwell, CT

As of Dec '25, the median home price in Cromwell, CT is $359,000, with a year-over-year change of 5.2%. This indicates that home prices in Cromwell, 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	$359,000	5.2%
Single Family	$439,000	5.3%
Condos	$254,000	4.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Cromwell, CT

As of July '25, Rentcast reports the average rent in Cromwell, CT is $2,390, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Cromwell, CT is 1-bedrooms: $1,710, 2-bedrooms: $1,880, 3-bedrooms: $3,250, 4-bedrooms: $5,250. The most common rental property sizes in Cromwell, CT are 2-bedroom and 1-bedroom, accounting for 42.3% and 40.9% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,100	$2,390
Studio Rent	N/A	N/A
1 Bed Rent	$1,000	$1,710
2 Bed Rent	$1,900	$1,880
3 Bed Rent	$2,750	$3,250
4 Bed Rent	$5,250	$5,250

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% of Rental Stock

1 Bedroom

40.9%

2 Bedrooms

42.3%

3 Bedrooms

16.9%

Property Listings — Cromwell, CT

As of Dec '25, Realtor.com reports that the median days on market for a home in Cromwell, CT is 22. This is a increase of 19.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$314,000	-35.0%
Listing Count	53	-18.0%
Listings as % of Homes	0.6%	-18.0%
Days on Market	37	-10.0%

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Demographics — Cromwell, CT

As of the latest ACS Survey released in 2023, Cromwell, CT has a population of 14,300, which has increased by 2.3% over the past 5 years. Cromwell, CT is a moderately popular place for families, as children make up 18.8% of the population. The area has a highly educated workforce, with 45.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.

Metric	Latest Census	YoY % Change
Population	14,300	2.3%
% Under 18	18.8%	-9.6%
% Seniors	22.8%	26.0%
% WFH	16.7%	263.0%
% w/ College Degree	45.6%	-3.2%

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As of the latest ACS Survey released in 2023, Cromwell, CT is a predominantly white area, with 74.5% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Cromwell, CT is hispanic, making up 8.8% of the population. Foreign-born residents account for 9.9% of the population in Cromwell, CT, and this percentage has increased by 26.9% 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	74.5%	-6.6%
% Black	5.5%	-12.7%
% Hispanic	8.8%	-10.2%
% Asian	6.1%	90.6%
% Foreign Born	9.9%	26.9%

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Mortgage and Risk — Cromwell, CT

According to HUD data as of 2023, there were 324 mortgage originations in Cromwell, CT, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Cromwell, CT. Investor activity is low, as 1.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	324
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	7.0%

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Rentals and Section 8 — Cromwell, CT

As of 2024, the percent of homes in Cromwell, CT under the Section 8 program is 3.2%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Cromwell, CT, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	36
Total Units Section 8	36
% Rentals under Section 8	3.2%
% Occupied Section 8	86.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$380	$1,000	$1,380
2 Bedroom	-$150	$1,900	$1,750
3 Bedroom	-$640	$2,750	$2,110
4 Bedroom	-$2,750	$5,250	$2,500

Cromwell, CT—06416

Key Metrics at a Glance

Home Price Trends — Cromwell, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cromwell, CT

% of Rental Stock

Property Listings — Cromwell, CT

Demographics — Cromwell, CT

Race and Ethnicity

Mortgage and Risk — Cromwell, CT

Mortgages

Rentals and Section 8 — Cromwell, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Cromwell, CT

Home Price to Income Ratio

Cromwell, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Rocky Hill, CT

Berlin, CT

Bretton Heights

Middletown, CT

Portland, CT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.8
Median Home Price	$359,000
Median Household Income	$104,000

Cromwell, CT—06416

Key Metrics at a Glance

Home Price Trends — Cromwell, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Cromwell, CT

% of Rental Stock

Property Listings — Cromwell, CT

Demographics — Cromwell, CT

Race and Ethnicity

Mortgage and Risk — Cromwell, CT

Mortgages

Rentals and Section 8 — Cromwell, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Cromwell, CT

Home Price to Income Ratio

Cromwell, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Rocky Hill, CT

Berlin, CT

Bretton Heights

Middletown, CT

Portland, CT

Frequently Asked Questions

What is the average home price in Cromwell, CT 06416?

How have home prices in Cromwell, CT 06416 changed over the past year?

What is the home price projection for Cromwell, CT 06416?

What are the demographics of Cromwell, CT 06416?

How long does it take homes to sell in Cromwell, CT 06416?

What is the average rent price in Cromwell, CT 06416?