Waterbury, CT—06704
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Waterbury, CT
As of Oct '25, the median home price in Waterbury, CT is $255,000, with a year-over-year change of 3.4%. This indicates that home prices in Waterbury, CT are increasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $255,000 | 3.4% |
| Single Family | $276,000 | 2.2% |
| Condos | $161,000 | 5.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $114,000 | 0.9% |
2 Bed | $188,000 | 5.6% |
3 Bed | $281,000 | 2.2% |
4 Bed | $289,000 | 1.4% |
| 5 Bed | $322,000 | 1.6% |
% of Housing Stock
Rental Trends — Waterbury, CT
As of July '25, Rentcast reports the average rent in Waterbury, CT is $1,750, with a year-over-year rent change of -23.9%. Per bedroom, the median rent as of July '25 in Waterbury, CT is studios: $1,050, 1-bedrooms: $1,420, 2-bedrooms: $1,590, 3-bedrooms: $1,840, 4-bedrooms: $2,180. The most common rental property sizes in Waterbury, CT are 2-bedroom and 3-bedroom, accounting for 38.7% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,750 |
| Studio Rent | $900 | $1,050 |
| 1 Bed Rent | $1,500 | $1,420 |
| 2 Bed Rent | $1,600 | $1,590 |
| 3 Bed Rent | $1,700 | $1,840 |
| 4 Bed Rent | $2,000 | $2,180 |
% of Rental Stock
Property Listings — Waterbury, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Waterbury, CT is 46. This is a increase of 6.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $287,000 | 14.0% |
Listing Count | 67 | 19.0% |
| Listings as % of Homes | 0.4% | 19.0% |
Days on Market | 46 | 6.0% |
Demographics — Waterbury, CT
As of the latest ACS Survey released in 2023, Waterbury, CT has a population of 30,700, which has increased by 19.9% over the past 5 years. Waterbury, CT is a moderately popular place for families, as children make up 22.7% of the population. The area has a poorly educated workforce, with 13.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,700 | 19.9% |
% Under 18 | 22.7% | -17.5% |
% Seniors | 15.5% | 28.1% |
% WFH | 6.6% | 53.5% |
% w/ College Degree | 13.7% | 26.9% |
As of the latest ACS Survey released in 2023, Waterbury, CT is a predominantly hispanic area, with 48.0% of the population identifying as hispanic. The hispanic population has grown by 6.4% in the last 5 years. The second most common race or ethnicity in Waterbury, CT is black, making up 31.3% of the population. Foreign-born residents account for 16.2% of the population in Waterbury, CT, and this percentage has increased by 8.0% 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 | 17.5% | -31.1% |
% Black | 31.3% | 9.4% |
% Hispanic | 48.0% | 6.4% |
% Asian | 1.7% | 240.0% |
% Foreign Born | 16.2% | 8.0% |
Mortgage and Risk — Waterbury, CT
According to HUD data as of 2023, there were 391 mortgage originations in Waterbury, CT, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Waterbury, CT. Investor activity is low, as 3.0% 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 | 391 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Waterbury, CT
As of 2024, the percent of homes in Waterbury, CT under the Section 8 program is 23.2%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Waterbury, CT, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,064 |
Total Units Section 8 | 1,574 |
% Rentals under Section 8 | 23.2% |
% Occupied Section 8 | 84.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$330 | $1,500 | $1,170 |
| 2 Bedroom | -$180 | $1,600 | $1,420 |
| 3 Bedroom | $160 | $1,700 | $1,860 |
| 4 Bedroom | $250 | $2,000 | $2,250 |
Affordability — Waterbury, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $255,000 |
| Median Household Income | $47,800 |