New Britain, Connecticut Real Estate & Housing Market

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New Britain Housing Information

Index	New Britain	Connecticut	National
Median home price	$157,300	$269,300	$184,700
Median rent asked	$925	$1,094	$949
Avg. people per household	2.5	2.5	2.6
Owner occupied households	39.7%	66.5%	63.6%
Renter occupied households	60.3%	33.5%	36.4%

Above is a snapshot look at the real estate market in New Britain, CT. In New Britain, CT, the median house price is $157,300, making the price 42% lower than that the average for Connecticut. Therefore, the affordability of New Britain, CT area real estate is more affordable than the real estate in other areas of Connecticut. In addition, New Britain, CT has a median rent price of $925; this price is 15% lower than that the average rental price for Connecticut. 39.7% of residents in New Britain, CT are homeowners, and the average amount of people who reside in each home is 2.5. New Britain, CT has a wide array of real estate options available, ranging from cost-friendly condos to high-end luxury homes. We filter listings by number of bathrooms and bedrooms, price and area to simplify the search process for New Britain, CT real estate for sale.

New Britain Home Affordability

When looking for real estate in New Britain, CT, nothing is more important than affordability. There are several methods to calculate the affordability of a home, but perhaps the best way is the home price to median household income ratio. In New Britain, CT, the median price of a home is $157,300 and $41,844 is the median household income. This means that the home price to income ratio is 3.8x, a ratio that is equal to the average in Connecticut. The median home price is divided by the median home income to calculate the home affordability ratio. Homes in New Britain, CT will be more financially accessable if the ratio has a lower than average home price to home income. These are not the only aspects to look at when determining the affordability of a home. A home affordability calculator offers a much more exact overview of the true affordability of a property. Use the calculator below to better determine how much you can pay for real estate in New Britain, CT.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Waterbury, CT	109,211	$129,500	30%
Blue Hills, CT	3,181	$148,800	19%
Hartford, CT	124,320	$159,100	14%
East Hartford, CT	50,834	$163,300	12%
Manchester, CT	30,364	$167,700	9%
New Britain, CT	72,876	$157,300	15%

Cities with similar population

City, State	Population	Home Price	National Avg.
Rochester Hills, MI	72,987	$247,500	34%
Boynton Beach, FL	72,748	$148,300	20%
Atascocita, TX	72,713	$165,700	10%
Southfield, MI	73,055	$113,100	39%
Centreville, VA	73,084	$397,400	115%
New Britain, CT	72,876	$157,300	15%

Source: The New Britain, CT housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).