New Haven, Connecticut Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Haven, Connecticut rental market.
Highlights
An apartment for rent in New Haven, Connecticut typically goes for $2,320 per month, while a single-family home for rent in New Haven, Connecticut has a monthly cost of around $2,835. Renter-occupied units make up 71% of the local housing market, while the rental vacancy rate in New Haven, Connecticut is at 5.1.
New Haven, Connecticut
Average Apartment Rent
$2,320
Y-o-Y Change in Average
Apartment Rent
7.7%
Average Single-Family Rent
$2,835
As of November 2024
Compared to a year ago, New Haven, Connecticut apartments have recorded a 7.7% rent increase.
New Haven, Connecticut Average apartment rent trend
New Haven, Connecticut Average Apartment Rent
New Haven, Connecticut Apartment rent ranges
At 63.93%, apartments priced Over $2,000 represent the bulk of New Haven, Connecticut rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.42%.
New Haven, Connecticut Housing tenure**
Renters take up 71% of New Haven, Connecticut real estate, occupying a total of 37,809 units, while homeowners live in 15,168 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$40,463
Average household size of renter-occupied housing units**
2.28
Rental vacancy rate**
5.1%
New Haven, Connecticut Renter-occupied housing units by no. of bedrooms**
There are 14,458 rentals in New Haven, Connecticut with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 499 units. Overall, the median number of rooms in New Haven, Connecticut homes for rent is 4.
New Haven, Connecticut Renter-occupied units by age of householder**
Most condos for rent in New Haven, Connecticut are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
New Haven, Connecticut Renter-occupied housing units by family type**
New Haven, Connecticut Renter-occupied housing units by the presence of own children**
A total of 16,579 apartments for rent in New Haven, Connecticut, or 44% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 10,565 units. All in all, the median size of a renter-occupied household in New Haven, Connecticut is 2.28.
New Haven, Connecticut Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 38% of the rental market. In contrast, residents with less than a high school degree reside in 16% of the homes for rent in New Haven, Connecticut.
New Haven, Connecticut Renter-occupied units by year structure built**
The highest share of New Haven, Connecticut apartment rentals, namely 39% or 14,883 units, were Built 1939 or earlier, followed by those Built 1960 - 1969 (14%, 5,182 units), and the ones Built 1970 - 1979 (11%, 4,197 units).
New Haven, Connecticut Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most New Haven, Connecticut renters (41%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their New Haven, Connecticut condos for rent is 2017.
New Haven, Connecticut Renter-occupied housing units by vehicles available**
When it comes to transportation options, 47% of New Haven, Connecticut renters have 1 vehicle available per household, 34% of them have No vehicle available, and 15% have 2 vehicles available.
New Haven, Connecticut Means of transportation to work of householders living in renter-occupied housing units**
New Haven, Connecticut Geographical mobility in the past year for householders living in renter-occupied housing units**
New Haven, Connecticut Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Haven, Connecticut apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
