Department of Numbers

Norwich Connecticut Residential Rent and Rental Statistics

The median monthly gross residential rent in Norwich, CT (the Norwich-New London metro area) was $1,061 in 2015 according to the Census ACS survey.1 Average gross rent in Norwich was $1,029 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Norwich median and average rent data will be released in September of 2017.

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.

Show dollars as: Nominal Real

Real Gross Rent in Norwich Connecticut (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Connecticut Median Gross Rent $1,108 +3.45% +8.41%
Norwich, CT Median Gross Rent $1,061 +6.31% +10.41%

Norwich, CT Real Gross Rent Trends

Median gross rent for Norwich peaked in real terms in 2008 at $1,111 and is now $50 (4.50%) lower. From a recent low of 961.0 in 2012, real median gross rent has now increased by $100 (10.41%). Average gross rent for Norwich peaked in real terms in 2008 at $1,063 and is now $34 (3.20%) lower.

Real Gross Rent in Norwich: Norwich CT Median, Norwich CT Average, Connecticut Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Norwich

Date US
Median
Connecticut
Median
Norwich, CT
Median
Norwich, CT
Average
2015 $959 $1,108 $1,061 $1,029
2014 $930 $1,071 $998 $959
2013 $898 $1,032 $1,008 $981
2012 $886 $1,022 $961 $977
2011 $887 $1,040 $983 $953
2010 $901 $1,045 $1,006 $1,033
2009 $905 $1,081 $1,095 $1,051
2008 $920 $1,083 $1,111 $1,063
2007 $874 $1,031 $999 $977
2006 $883 $1,026 $1,043 $1,052
2005 $858 $989 $985 $948

Norwich Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Norwich Connecticut was 6.44% according to Census ACS data.

Rental Vacancy Rate in Norwich Connecticut

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Connecticut 6.78% +0.06% -0.19%
Norwich, CT 6.44% +0.01% -0.41%

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 1.49% to 6.44%. Data records for this series originated in 2005.

Rental Vacancy Rate: Norwich CT, Connecticut, US

Rental vacancy rate in Connecticut

Historical Rental Vacancy Rate data for Norwich

Date US Connecticut Norwich, CT
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%
2008 7.86% 7.27% 4.42%
2007 7.87% 7.33% 6.73%
2006 7.70% 6.16% 6.47%
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 19.36% in 2015 according to the ACS.

Norwich Connecticut Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Connecticut 18.64% +0.20% +0.46%
Norwich, CT 19.36% +1.16% +2.10%

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 2013 (relative to the 2005 series origin) at 19.37%. Since then it has fallen by 0.01% to 19.36%.

Fraction of Income towards Rent: Norwich CT, Connecticut, US

Percent of median household income going towards median monthly gross rent in Norwich Connecticut

Historical Data for Annual Rent as a Fraction of Income in Norwich Connecticut

Date US Connecticut Norwich, CT
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%
2008 19.00% 16.97% 17.40%
2007 18.66% 16.94% 17.73%
2006 18.90% 16.76% 18.10%
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 2015 34.89% of households were renters according to Census ACS data.

Norwich Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Connecticut 33.84% +0.22% +0.75%
Norwich, CT 34.89% +1.69% +0.35%

Trends in the Norwich, CT Renter Fraction

At 34.89%, the 2015 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

Fraction of renters in Norwich

History of Norwich Renter Fraction

Date US Connecticut Norwich, CT
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%
2008 33.36% 31.01% 31.38%
2007 32.80% 29.97% 29.32%
2006 32.73% 30.48% 30.16%
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.