CT Housing Costs: What the ACS 5-Year Estimates Tell Us
The 2023 American Community Survey (ACS) 5-year estimates were released in December 2024. The ACS is a survey administered by the U.S. Census Bureau, reaching 3.5 million households nationwide and over 30,000 households in Connecticut in 2023. ACS data tables cover a variety of topics, including demographics, housing, and income.
We turned to the 2023 ACS 5-year estimates to understand housing conditions in Connecticut and the differences between households who rent and households who own their home. Throughout the analysis, we also look at this data for Hartford, which has the highest proportion of renters in the state (74%).
According to the 2023 ACS 5-year estimates, one in three Connecticut households rent their home, and two in three households own their home. The number and proportion of renting households increased from 2010 to 2023. During this period, the number of owner-occupied households remained steady at 940K, while renter-occupied households grew from 419K to 480K, raising the proportion of renter-occupied households from 31% to 34%.
In Hartford, three out of four households rent their home. Additionally, Hartford has the highest proportion of renters of all towns in Connecticut. Between 2010 and 2023, the number of households in Hartford increased by nearly 3,000 (6%). This growth was proportionally split: 75% of new housing units were rentals, while 25% were owner-occupied.
Rental housing is not evenly spread across the state. Rental units are clustered in larger cities, such as Hartford (74% of housing units are rentals) and New Haven (72%). Bridgeport, Stamford, New Haven, Hartford, and Waterbury account for 18% of the state’s housing units, but they contain 33% of the state’s rental housing units.
The share of households who rent and own varies by characteristics like race and ethnicity, age, and income. These differences are explored below.
Race and Ethnicity
Only 18% of White non-Hispanic households rent their home, compared to 49% of Black non-Hispanic households and 54% of Hispanic or Latino households. This data comes from the 2023 ACS Public Use Microdata Sample (PUMS), which is a set of untabulated survey responses that allows data users to create custom tables that are not available in the standard published ACS tables. PUMS data also comes from responses to the ACS, and the data becomes available shortly after the ACS 5-year estimates are released.
White non-Hispanic and Black non-Hispanic householders were less likely to be renters than other racial and ethnic groups. However, nearly half of White non-Hispanic householders were renters (49%), while a slight majority of Black non-Hispanic householders were renters (61%).
Age
In general, as householders age, the percentage of those who rent their homes decreases. The majority of householders aged 15 to 34 are renters (84%). This trend shifts among householders aged 35 to 44, 39% of whom rent. Among those aged 45 to 85, about 25% are renters. However, rental rates rise again for householders aged 85 and older, with 31% renting their homes.
In Hartford, the majority of households rented their home in every age group we looked at. Nearly all younger householders were renters: 93% of those younger than 35 rented their homes. The share of homeowners increased with age, peaking among householders aged 85 and older, 58% of whom rented and 42% of whom owned their homes.
This pattern is similar to the statewide trend. However, across all age groups, a higher proportion of Hartford householders were renters compared to the statewide average.
Income and Housing Costs
The statewide median household income is $94,000. Income substantially differs for households who rent and households who own their homes. The median income for renter households is $51,000 — less than half the $122,000 median income for homeowners.
The median household income in Hartford was $45,000 in 2023. This greatly differed between homeowners and renters. The median household income of renter households was $36,000, and the median household income of homeowners was $80,000. The median household income of both homeowners and renters in Hartford was lower than the statewide median of $94,000.
Guidelines from the federal Department of Housing and Urban Development state that households should pay no more than 30% of their income on housing to be able to cover other expenses. Those paying over 30% are considered cost-burdened, and those paying 50% or more are considered severely cost-burdened. In Connecticut, 48% of households who rent are cost-burdened, and 25% are severely cost-burdened.
According to Zillow Observed Rent Index (ZORI), January 2025 rents in Connecticut Metropolitan Statistical Areas (MSA) ranged from about $1,650 in the Torrington MSA to $2,750 in the Bridgeport MSA. The average of all MSAs was about $2,000.
Zillow also includes data on estimated monthly payments for homeowners, including mortgage payment based on 20% down, homeowner’s insurance, property taxes, and maintenance costs. In January 2025, estimated monthly payments were about $2,750 in the Hartford, New Haven, and Norwich MSAs, and was $4,500 in the Bridgeport MSA.
Rent prices in Hartford, according to ZORI, have increased 69% between January 2017 and December 2024. By the end of 2024, Hartford renters were paying about $600 more in monthly rent compared to the beginning of 2017. In comparison, the median household income for renters in Hartford increased by just 36%, or $9,500, over the same period.
Based on households whose housing cost and income could be determined, 58% of renters were cost-burdened in Hartford. This is 10 percentage points higher than the statewide percentage of cost-burdened renter households.
Household Size and Housing Size
The average household size of renting households (2.16) is lower than that of households who own their home (2.62). For people who live alone, half rent and half own their homes. Among larger households, about one in four rent their home.
The proportion of renter and owner households with a child under 18 living with them is similar (27% and 29%, respectively).
Household sizes in Hartford follow similar patterns to statewide: renting households tend to be smaller, and households who own tend to be larger. The average household size of renters was 2.15, lower than 2.75 for owners.
Unlike the state, where people who live alone were equally divided between renting households and households who own, four of five Hartford residents who live alone rented their home. As household size increased, the proportion of renters decreased. Three of five households with four or more people rented their home.
The desire for more space may push households that can afford to purchase a home to do so. Renters looking to move into a larger rental unit have limited options; housing units occupied by owners tend to be larger than units that are available to rent.
While 75% of owner-occupied housing units had 3 or more bedrooms, just 25% of renter-occupied housing units did. Almost 40% of renter-occupied housing units had one bedroom or was a studio, while only 3% of owner-occupied housing units were one-bedrooms or studios.
In Hartford, there were differences in the size of housing units that were rented or owned. 74% of rental units had two bedrooms or less, while 66% of owner-occupied housing units had three bedrooms or more.
Mobility
One in five renters moved into their home within the last year, and nearly one in ten homeowners did. Moving is expensive for both renters and owners, and moving costs increased by 8% between 2021 and 2022.
More than half of homeowners (57%) moved into their home prior to 2010, and 37% of homeowners moved into their home between 2010 and 2020. Just 5% of homeowners moved in 2021 or later. On the other hand, just 15% of renters moved into their home prior to 2010, 70% moved in between 2010 and 2020, and15% of renters moved in 2021 or later.
Of households who moved in the last year:
56% of renters and 52% of owners remained in the same planning region ,
15% of renters and 20% of owners moved to a different planning region,
22% of renters and 25% of owners moved to Connecticut from out-of-state, and
8% of renters and 4% of owners moved to Connecticut from abroad.
Hartford Building Conditions
Using standardized assessment parcel data (CAMA) alongside data from the American Community Survey, we analyzed the condition of residential buildings in Hartford that are likely to be occupied by renters and compared it to the condition of residential buildings that are likely to be occupied by their owners. According to the ACS, the only building type that is home to more owners (82%) than renters (18%) are single-family detached homes. For all other building types, including single-family attached homes, like townhouses and rowhouses, at least 60% of units are occupied by renters. By comparing this ACS data to the Building Type field in the CAMA data, we designated each building as likely occupied by renters or by owners.
Building conditions are assigned a grade based on its current condition. We grouped grades together into excellent, good, average, fair, and poor. We found that renter-occupied buildings were slightly more likely to in excellent, good, or poor condition, and owner-occupied buildings were slightly more likely to be in average condition. The differences between renter-occupied and owner-occupied buildings was very small, less than five percentage points.
In Conclusion
The 2023 ACS offers a detailed look at the housing landscape in Connecticut and can provide insights challenges faced by renters. Connecticut faces a housing crisis marked by high costs, a vacancy rate well below the national average, and a relatively old housing stock. Demand for housing continues to grow; Hartford was highlighted by Zillow as one of the most competitive housing markets nationwide. These conditions make it challenging for renters and owners to find housing that meets their needs and does not leave them cost-burdened.
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