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Cromwell, CT—06416

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$384,000
4.2% YoY Growth
Household Income
$104,000
13.7% YoY Growth
Days on Market
31
0.0% Longer YoY
Home Price Forecast
3.4%
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
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Cromwell, CT

As of May '26, the median home price in Cromwell, CT is $384,000, with a year-over-year change of 4.2%. This indicates that home prices in Cromwell, CT are increasing. According to Zillow, the 1-year price projection is 3.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$384,0004.2%
Single Family $472,0004.2%
Condos $263,0002.7%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $177,000
    1.1%
    2 Bed
    		$263,0002.7%
    3 Bed
    		$435,0004.1%
    4 Bed
    		$593,0003.9%
    5 Bed $638,7603.8%
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    % of Housing Stock

    Studio
    1.5%
    1 Bedroom
    11.4%
    2 Bedrooms
    30.8%
    3 Bedrooms
    36.2%
    4 Bedrooms
    19.1%
    5+ Bedrooms
    1.0%

    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.

    TypeMedian RentAverage Rent
    Average Rent$2,100$2,390
    Studio Rent N/AN/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 May '26, Realtor.com reports that the median days on market for a home in Cromwell, CT is 31. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 11.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$350,000-15.0%
    Listing Count
    		37-29.0%
    Listings as % of Homes0.6%-29.0%
    Days on Market
    		310.0%
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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.

    MetricLatest CensusYoY % Change
    Population
    		14,3002.3%
    % Under 18
    		18.8%-9.6%
    % Seniors
    		22.8%26.0%
    % WFH
    		16.7%263.0%
    % w/ College Degree
    		45.6%-3.2%
    Loading chart...

    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

    MetricLatest Census5-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

    MetricZip 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 SizeHUD PremiumMarket RentMax 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

    Affordability — Cromwell, CT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$384,000
    Median Household Income$104,000

    Cromwell, CT — ZIP Code Boundary Map

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    Frequently Asked Questions