Top 5 Best Real Estate Investment Markets in Connecticut

By 

Ben Mizes

Updated 

April 22nd, 2019

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Real estate investors can easily scale their portfolio by breaking into other markets. Are you considering investing in Connecticut? Boosting your profits will depend on putting your money in the right markets. Don’t know where to start? Read our article to learn about the top markets in the state.

As an investor considering buying investment properties in Connecticut, you must learn everything you can about the best real estate investment markets in the state. Investing in the top markets will boost your selling and rental profits.

Don’t know where to start? Here are five real estate investment markets you should consider to make the best real estate investments in Connecticut.

  1. Bridgeport

Bridgeport may be your best option if you’re looking to make the most of your investment or flip homes for a potential 86.7% ROI. The median home value is $176,200. Making it affordable for many experienced investors looking to get started in the Connecticut market.

While its neighborhoods may not be as appealing as others in the state, its proximity to New York guarantees amazing results. The community is becoming prime real estate for wealthy professionals who want to live close to Wall Street.

During the last few years, the market has appreciated about 6.7%. The Bridgeport market is expected to rise in value about 6.6% within the next year.

If your investment profits come mainly from renting your properties, you’re in luck if you choose to invest in Bridgeport. In this market, 59.4% of residents are renters. The average rent listing price is $1,600 which is more than the US median.

  1. Waterbury

While this market may not bring the same profits as Bridgeport, it provides a potential ROI of about 143% for house flippers. The median home value in Waterbury is $116,200. The low median home value makes it easy for investors to buy properties in the market.

Last year, the Waterbury market rose by about 5.6% in value. While it isn’t expected to keep rising at the same rate, a 4.4% increase is forecasted for this year.

About 57.5% of Waterbury residents are renters. Even though, the median rent in this market is around $1,150 below the national median. You should consider investing in properties to develop a steady rental income since 31.9% of residences are small apartment complexes.

  1. Cornwall

While you may need more capital to invest in this market, Cornwall is a great option for investors looking to make money no matter what. The median home value is $419,200. But, you may get lucky and find some properties priced at about $92,000.

Last year, properties in this market rose up to 13% in value. In 2019, houses in Cornwall are expected to rise by about 2%.

Which may not seem as much , but it will protect real estate investments. This market is also becoming a haven for second-home owners because of its year-round activities such as hiking, fishing, skiing, among others.

  1. Stratford

This coastal town is a hot spot for house flippers looking for a potential ROI of about 122%. The market median home value is $239,361. While the average annual appreciation rate is only 1.13%, it’s a great market if you’re looking to sell or lease your investment properties.

It’s a seller’s market considering Stratford’s home vacancy rate of 7.2% and a homeownership rate of 79.1%. Even though only 20.9% of residents are renters, you can develop a steady income from leasing your properties. The median rent in this market is about $1,621 which is higher than the national median and the Bridgeport market.

  1. Fairfield

If you’re an investor looking for high-value properties, the Fairfield market may be your best option. While the median home value is $673,695, the market has the highest average annual appreciation rate of 2.28%. You may consider renting or selling your investment property in this market since the market isn’t leaning to either the buyer or seller side.

The Fairfield market has a 5.8% vacancy rate and a high homeownership rate of 76.5% making ideal to sell investment properties. While only 23.5% of residents are renters, the median rent in the market is around $2,343 which is higher than the national median and any of the top Connecticut markets.

Whether you’re experienced or new to investing in the Connecticut market, you should consider partnering with one of our Clever Partner Agents. A Partner Agent will schedule on-demand showings for any property you want to invest in. An experienced local real estate agent can also provide insight into the best markets and guide you to find the best properties in the market.

No matter if you want to break into the Connecticut market or scale your portfolio, you should consider partnering with a Partner Agent to take your real estate investment game to the next level.