Waterbury, CT—06708
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 $297,000, with a year-over-year change of 4.6%. 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 | $297,000 | 4.6% |
| Single Family | $315,000 | 4.0% |
| Condos | $188,000 | 7.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $119,000 | 2.6% |
2 Bed | $233,000 | 7.4% |
3 Bed | $319,000 | 3.6% |
4 Bed | $344,000 | 3.6% |
| 5 Bed | $381,000 | 3.0% |
% of Housing Stock
Rental Trends — Waterbury, CT
As of July '25, Rentcast reports the average rent in Waterbury, CT is $1,710, with a year-over-year rent change of 22.1%. Per bedroom, the median rent as of July '25 in Waterbury, CT is studios: $900, 1-bedrooms: $1,340, 2-bedrooms: $1,610, 3-bedrooms: $1,990, 4-bedrooms: $2,500. The most common rental property sizes in Waterbury, CT are 2-bedroom and 3-bedroom, accounting for 46.9% and 32.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,710 |
| Studio Rent | $900 | $900 |
| 1 Bed Rent | $1,200 | $1,340 |
| 2 Bed Rent | $1,600 | $1,610 |
| 3 Bed Rent | $2,000 | $1,990 |
| 4 Bed Rent | $2,500 | $2,500 |
% 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 35. This is a decrease of -14.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $311,000 | 2.0% |
Listing Count | 98 | 10.0% |
| Listings as % of Homes | 0.5% | 10.0% |
Days on Market | 35 | -14.0% |
Demographics — Waterbury, CT
As of the latest ACS Survey released in 2023, Waterbury, CT has a population of 29,100, which has decreased by -2.0% over the past 5 years. Waterbury, CT is a moderately popular place for families, as children make up 20.1% of the population. The area has a poorly educated workforce, with 22.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 29,100 | -2.0% |
% Under 18 | 20.1% | -16.2% |
% Seniors | 14.2% | 5.2% |
% WFH | 8.0% | 627.3% |
% w/ College Degree | 22.0% | -4.8% |
As of the latest ACS Survey released in 2023, Waterbury, CT is a predominantly white area, with 42.7% of the population identifying as white. The white population has shrunk by 20.2% in the last 5 years. The second most common race or ethnicity in Waterbury, CT is hispanic, making up 32.7% of the population. Foreign-born residents account for 19.9% of the population in Waterbury, CT, and this percentage has increased by 21.3% 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 | 42.7% | -20.2% |
% Black | 18.6% | 18.5% |
% Hispanic | 32.7% | 20.7% |
% Asian | 1.8% | 20.0% |
% Foreign Born | 19.9% | 21.3% |
Mortgage and Risk — Waterbury, CT
According to HUD data as of 2023, there were 562 mortgage originations in Waterbury, CT, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Waterbury, CT. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 562 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Waterbury, CT
As of 2024, the percent of homes in Waterbury, CT under the Section 8 program is 12.1%. 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 Waterbury, 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 | 724 |
Total Units Section 8 | 660 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 81.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $1,200 | $1,180 |
| 2 Bedroom | -$170 | $1,600 | $1,430 |
| 3 Bedroom | -$130 | $2,000 | $1,870 |
| 4 Bedroom | -$230 | $2,500 | $2,270 |
Affordability — Waterbury, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $297,000 |
| Median Household Income | $63,700 |