Norwich Connecticut Residential Rent and Rental Statistics
The median monthly gross residential rent in Norwich, CT (the Norwich-New London metro area) was $1,140 in 2019 according to the Census ACS survey.1 Average gross rent in Norwich was $1,138 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Norwich median and average rent data will be released in September of 2021.
Data is also available below for Norwich rental vacancy rates, Norwich rent as a percent of median income and the fraction of renters in Norwich.
Real Gross Rent in Norwich Connecticut (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Connecticut Median Gross Rent | $1,177 | -1.26% | +0.77% |
| Norwich, CT Median Gross Rent | $1,140 | +0.44% | +3.92% |
Norwich, CT Real Gross Rent Trends
Median gross rent for Norwich peaked in real terms in 2008 at $1,178 and is now $38 (3.23%) lower. From a recent low of 1019.0 in 2012, real median gross rent has now increased by $121 (11.87%). At $1,138, real average gross rent in Norwich was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Norwich: Norwich CT Median, Norwich CT Average, Connecticut Median, US Median
Real Gross Rent History for Norwich
| Date | US Median |
Connecticut Median |
Norwich, CT Median |
Norwich, CT Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,177 | $1,140 | $1,138 |
| 2018 | $1,077 | $1,192 | $1,135 | $1,092 |
| 2017 | $1,043 | $1,160 | $1,081 | $1,087 |
| 2016 | $1,027 | $1,168 | $1,097 | $1,079 |
| 2015 | $1,017 | $1,175 | $1,126 | $1,092 |
| 2014 | $986 | $1,136 | $1,059 | $1,018 |
| 2013 | $953 | $1,095 | $1,069 | $1,040 |
| 2012 | $940 | $1,084 | $1,019 | $1,036 |
| 2011 | $941 | $1,103 | $1,042 | $1,011 |
| 2010 | $955 | $1,108 | $1,067 | $1,096 |
| 2009 | $960 | $1,147 | $1,161 | $1,115 |
| 2007 | $927 | $1,094 | $1,060 | $1,036 |
| 2005 | $910 | $1,049 | $1,045 | $1,005 |
Norwich Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Norwich Connecticut was 4.63% according to Census ACS data.
Rental Vacancy Rate in Norwich Connecticut
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Connecticut | 6.37% | +0.58% | +0.81% |
| Norwich, CT | 4.63% | -0.41% | -0.35% |
Trends in Norwich, CT Rental Vacancy Rate
The rental vacancy rate in Norwich peaked in 2011 at 7.93%. Since then it has fallen by 3.30% to 4.63%. Data records for this series originated in 2005. From a 2017 post peak low of 2.80%, the rental vacancy rate has increased by 1.83%.
Rental Vacancy Rate: Norwich CT, Connecticut, US
Historical Rental Vacancy Rate data for Norwich
| Date | US | Connecticut | Norwich, CT |
|---|---|---|---|
| 2019 | 5.97% | 6.37% | 4.63% |
| 2018 | 6.15% | 5.79% | 5.04% |
| 2017 | 6.18% | 7.02% | 2.80% |
| 2016 | 5.89% | 5.56% | 4.98% |
| 2015 | 5.85% | 6.78% | 6.44% |
| 2014 | 6.32% | 6.72% | 6.43% |
| 2013 | 6.49% | 6.58% | 4.10% |
| 2012 | 6.77% | 6.97% | 6.85% |
| 2011 | 7.40% | 7.87% | 7.93% |
| 2010 | 8.17% | 7.09% | 4.84% |
| 2009 | 8.43% | 7.84% | 7.62% |
| 2007 | 7.87% | 7.33% | 6.73% |
| 2005 | 7.74% | 6.58% | 3.11% |
Rent as a Fraction of Income
Using median household income data for Norwich, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Norwich, median monthly gross rent as a fraction of median household income was 18.09% in 2019 according to the ACS.
Norwich Connecticut Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Connecticut | 17.92% | -0.49% | -0.30% |
| Norwich, CT | 18.09% | -1.82% | +0.30% |
Trends in Norwich, CT Rent as a Fraction of Income
The fraction of median Norwich household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 19.91%. Since then it has fallen by 1.82% to 18.09%.
Fraction of Income towards Rent: Norwich CT, Connecticut, US
Historical Data for Annual Rent as a Fraction of Income in Norwich Connecticut
| Date | US | Connecticut | Norwich, CT |
|---|---|---|---|
| 2019 | 20.03% | 17.92% | 18.09% |
| 2018 | 20.50% | 18.41% | 19.91% |
| 2017 | 20.13% | 18.20% | 17.47% |
| 2016 | 20.43% | 18.22% | 17.79% |
| 2015 | 20.63% | 18.64% | 19.36% |
| 2014 | 20.89% | 18.43% | 18.20% |
| 2013 | 20.78% | 18.60% | 19.37% |
| 2012 | 20.65% | 18.18% | 17.26% |
| 2011 | 20.70% | 18.63% | 17.87% |
| 2010 | 20.50% | 18.59% | 18.38% |
| 2009 | 20.12% | 18.01% | 19.06% |
| 2007 | 18.66% | 16.94% | 17.73% |
| 2005 | 18.89% | 16.52% | 16.93% |
Renter Fraction in Norwich Connecticut
You can calculate the renter fraction in Norwich in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Norwich as a fraction of total Norwich households. In 2019 35.02% of households were renters according to Census ACS data.
Norwich Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Connecticut | 34.97% | +0.77% | -0.26% |
| Norwich, CT | 35.02% | +1.17% | +1.19% |
Trends in the Norwich, CT Renter Fraction
At 35.02%, the 2019 household based renter fraction in Norwich was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Norwich CT, Connecticut, US
History of Norwich Renter Fraction
| Date | US | Connecticut | Norwich, CT |
|---|---|---|---|
| 2019 | 35.89% | 34.97% | 35.02% |
| 2018 | 36.05% | 34.20% | 33.85% |
| 2017 | 36.13% | 33.80% | 32.84% |
| 2016 | 36.88% | 35.23% | 33.83% |
| 2015 | 36.97% | 33.84% | 34.89% |
| 2014 | 36.90% | 33.62% | 33.20% |
| 2013 | 36.50% | 33.69% | 33.82% |
| 2012 | 36.09% | 33.09% | 34.54% |
| 2011 | 35.42% | 32.60% | 31.10% |
| 2010 | 34.65% | 32.03% | 31.54% |
| 2009 | 34.13% | 31.15% | 31.57% |
| 2007 | 32.80% | 29.97% | 29.32% |
| 2005 | 33.10% | 30.51% | 31.61% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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