Prospect, CT 06712 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Prospect, CT—06712

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$449,000

5.2% YoY Growth

Household Income

$126,000

24.9% YoY Growth

Days on Market

18.0% Shorter YoY

Home Price Forecast

3.9%

Median Rent

$1,700

N/A

1-Bed Rent

$1,700

N/A

2-Bed Rent

$1,580

N/A

3-Bed Rent

$3,500

N/A

Home Price Trends — Prospect, CT

As of Dec '25, the median home price in Prospect, CT is $449,000, with a year-over-year change of 5.2%. This indicates that home prices in Prospect, CT are increasing. According to Zillow, the 1-year price projection is 3.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$449,000	5.2%
Single Family	$444,000	5.2%
Condos	$475,000	6.7%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Prospect, CT

Prospect, CT lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$1,700	$2,280
Studio Rent	N/A	N/A
1 Bed Rent	$1,700	$1,700
2 Bed Rent	$1,580	$1,580
3 Bed Rent	$3,500	$3,500
4 Bed Rent	$2,350	$2,350

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% of Rental Stock

1 Bedroom

15.3%

2 Bedrooms

26.8%

3 Bedrooms

51.9%

4 Bedrooms

6.0%

Property Listings — Prospect, CT

As of Dec '25, Realtor.com reports that the median days on market for a home in Prospect, CT is 37. This is a decrease of -15.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$497,000	19.0%
Listing Count	23	28.0%
Listings as % of Homes	0.5%	28.0%
Days on Market	61	-18.0%

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Demographics — Prospect, CT

As of the latest ACS Survey released in 2023, Prospect, CT has a population of 9,410, which has decreased by -3.3% over the past 5 years. Prospect, CT is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 36.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	9,410	-3.3%
% Under 18	22.5%	9.8%
% Seniors	23.7%	21.5%
% WFH	10.6%	253.3%
% w/ College Degree	36.7%	7.9%

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As of the latest ACS Survey released in 2023, Prospect, CT is a predominantly white area, with 83.8% of the population identifying as white. The white population has shrunk by 4.8% in the last 5 years. The second most common race or ethnicity in Prospect, CT is hispanic, making up 4.9% of the population. Foreign-born residents account for 11.1% of the population in Prospect, CT, and this percentage has increased by 60.9% 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	83.8%	-4.8%
% Black	3.8%	-28.3%
% Hispanic	4.9%	-2.0%
% Asian	1.7%	466.7%
% Foreign Born	11.1%	60.9%

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Mortgage and Risk — Prospect, CT

According to HUD data as of 2023, there were 170 mortgage originations in Prospect, CT, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Prospect, CT. Investor activity is low, as 0.0% 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	170
% Conventional Loans	86.0%
% Government Loans	14.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Prospect, CT

Prospect, CT lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	N/A
Total Units Section 8	N/A
% Rentals under Section 8	N/A
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$240	$1,700	$1,460
2 Bedroom	$190	$1,580	$1,770
3 Bedroom	-$1,180	$3,500	$2,320
4 Bedroom	$460	$2,350	$2,810

Prospect, CT—06712

Key Metrics at a Glance

Home Price Trends — Prospect, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Prospect, CT

% of Rental Stock

Property Listings — Prospect, CT

Demographics — Prospect, CT

Race and Ethnicity

Mortgage and Risk — Prospect, CT

Mortgages

Rentals and Section 8 — Prospect, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Prospect, CT

Home Price to Income Ratio

Prospect, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Waterbury, CT

Waterbury, CT

Cheshire, CT

Bethany, CT

Naugatuck, CT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$449,000
Median Household Income	$126,000

Prospect, CT—06712

Key Metrics at a Glance

Home Price Trends — Prospect, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Prospect, CT

% of Rental Stock

Property Listings — Prospect, CT

Demographics — Prospect, CT

Race and Ethnicity

Mortgage and Risk — Prospect, CT

Mortgages

Rentals and Section 8 — Prospect, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Prospect, CT

Home Price to Income Ratio

Prospect, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Waterbury, CT

Waterbury, CT

Cheshire, CT

Bethany, CT

Naugatuck, CT

Frequently Asked Questions

What is the average home price in Prospect, CT 06712?

How have home prices in Prospect, CT 06712 changed over the past year?

What is the home price projection for Prospect, CT 06712?

What are the demographics of Prospect, CT 06712?

How long does it take homes to sell in Prospect, CT 06712?

What is the average rent price in Prospect, CT 06712?