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Waterbury, CT—06706

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$287,000
4.4% YoY Growth
Household Income
$51,800
23.6% YoY Growth
Days on Market
36
43.0% Shorter YoY
Home Price Forecast
3.5%
Median Rent
$1,600
N/A
1-Bed Rent
$1,300
N/A
2-Bed Rent
$1,550
N/A
3-Bed Rent
$1,800
N/A

Other Zip Codes in Waterbury, CT

0670806702067040671006705
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Waterbury, CT

As of May '26, the median home price in Waterbury, CT is $287,000, with a year-over-year change of 4.4%. This indicates that home prices in Waterbury, CT are increasing. According to Zillow, the 1-year price projection is 3.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$287,0004.4%
Single Family $294,0003.9%
Condos $149,0006.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$237,0004.9%
    3 Bed
    		$299,0004.2%
    4 Bed
    		$322,0004.2%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    4.3%
    1 Bedroom
    9.9%
    2 Bedrooms
    28.7%
    3 Bedrooms
    47.4%
    4 Bedrooms
    8.3%
    5+ Bedrooms
    1.4%

    Rental Trends — Waterbury, CT

    Waterbury, CT lacks sufficient rental market data for analysis.

    TypeMedian RentAverage Rent
    Average Rent$1,600$1,760
    Studio Rent $1,100$1,300
    1 Bed Rent $1,300$1,240
    2 Bed Rent $1,550$1,560
    3 Bed Rent $1,800$1,770
    4 Bed Rent $1,800$2,110
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    % of Rental Stock

    Studio
    5.3%
    1 Bedroom
    15.1%
    2 Bedrooms
    40.0%
    3 Bedrooms
    33.1%
    4 Bedrooms
    5.7%
    5+ Bedrooms
    0.8%

    Property Listings — Waterbury, CT

    As of May '26, Realtor.com reports that the median days on market for a home in Waterbury, CT is 36. This is a decrease of -43.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$290,00026.0%
    Listing Count
    		213.0%
    Listings as % of Homes0.4%3.0%
    Days on Market
    		36-43.0%
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    Demographics — Waterbury, CT

    As of the latest ACS Survey released in 2023, Waterbury, CT has a population of 15,500, which has increased by 9.5% over the past 5 years. Waterbury, CT is a moderately popular place for families, as children make up 24.2% of the population. The area has a poorly educated workforce, with 16.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.3% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		15,5009.5%
    % Under 18
    		24.2%-5.8%
    % Seniors
    		14.4%21.0%
    % WFH
    		6.3%90.9%
    % w/ College Degree
    		16.2%22.7%
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    As of the latest ACS Survey released in 2023, Waterbury, CT is a predominantly hispanic area, with 35.1% of the population identifying as hispanic. The hispanic population has shrunk by 18.0% in the last 5 years. The second most common race or ethnicity in Waterbury, CT is white, making up 30.7% of the population. Foreign-born residents account for 19.8% of the population in Waterbury, CT, and this percentage has increased by 15.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		30.7%-16.1%
    % Black
    		25.6%89.6%
    % Hispanic
    		35.1%-18.0%
    % Asian
    		3.2%-36.0%
    % Foreign Born
    		19.8%15.8%
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    Mortgage and Risk — Waterbury, CT

    According to HUD data as of 2023, there were 145 mortgage originations in Waterbury, CT, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Waterbury, CT. Investor activity is low, as 6.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		145
    % Conventional Loans
    		70.0%
    % Government Loans
    		30.0%
    % Investor Loans
    		6.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		11.0%
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    Rentals and Section 8 — Waterbury, CT

    As of 2024, the percent of homes in Waterbury, CT under the Section 8 program is 16.0%. 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
    		670
    Total Units Section 8
    		506
    % Rentals under Section 8
    		16.0%
    % Occupied Section 8
    		80.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$160$1,300$1,140
    2 Bedroom-$170$1,550$1,380
    3 Bedroom$10$1,800$1,810
    4 Bedroom$390$1,800$2,190

    Affordability — Waterbury, CT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio4.1
    Median Home Price$287,000
    Median Household Income$51,800

    Waterbury, CT — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Waterbury, CT

    06702

    Waterbury, CT

    06705

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    06770

    Frequently Asked Questions