Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$430,914+7.0% YoY · prices are rising fast
Market right nowBalanced, leaning sellersMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$93,413About 1.0× the local median income ($89,230): a stretch for a typical household
Days on market44 daysAbout the same pace as a year ago
Next 12 months+4.5%Zillow expects prices to rise strongly
The typical home in Norwich-New London-Willimantic, CT is worth $430,914, up 7.0% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $399,538, so the area is 7.9% overvalued. It is a balanced market, leaning toward sellers: homes take about 44 days to sell, listings are up 12% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 4.5% over the next year. A household needs about $93,413 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $89,230. Typical rent is $2,099 a month, or $2,638 for a house. In the latest IRS figures, 566 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$430,914
Change in 1 year
+7.0%
Overvalued %
+7.9%
Show 7 more
Fair home value
$399,538
Change in 5 years
+43.8%
Zillow forecast, next 12 months
+4.5%
Home value to income
4.8×
Monthly mortgage payment (20% down)
$2,335
Income needed to afford it
$93,413
Property tax rate
1.62%
Rent and investing
Typical rent
$2,099
Typical rent for houses
$2,638
Price-to-rent ratio
17.1×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,902
Gross rental yield
5.85%
Cap rate (estimate)
3.80%
Market activity
Listings vs a year ago
+12.5%
Days on market
44
Listings with a price cut
15.6%
Show 3 more
Homes for sale
468
Pending sales per 100 listings
75
Asking price per sq ft
$272
People and jobs
Median household income
$89,230
Population change (1 year)
+0.3%
Unemployment rate
5.0%
Show 4 more
Population
284,015
Income adjusted for cost of living
$88,875
Net moves in (IRS)
+566
Cost of living (US = 100)
100.4
Schools, risk and environment
School rating (1 to 10)
5.1
FEMA hazard risk score (0 to 100)
88.6
Flood risk score
91.8
Show 1 more
Wildfire risk score
39.4
Questions people ask
Is Norwich-New London-Willimantic, CT overvalued?
Home prices in Norwich-New London-Willimantic, CT are slightly above what local incomes have historically supported: fair value is about $399,538, so the area is 7.9% overvalued.
Is Norwich-New London-Willimantic, CT a buyer's or seller's market?
Norwich-New London-Willimantic, CT is a balanced market, leaning toward sellers: homes take about 44 days to sell, listings are up 12% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Norwich-New London-Willimantic, CT?
Home values in Norwich-New London-Willimantic, CT are up 7.0% over the last year. Zillow's forecast for the next 12 months is +4.5%.
How much do you need to earn to buy a home in Norwich-New London-Willimantic, CT?
A household needs about $93,413 a year to afford the typical home in Norwich-New London-Willimantic, CT at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $89,230.