Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 12,358, 5,713 total housing units (homes and apartments), and a median house value of $354,874, Derby real estate values are some of the lowest in Connecticut, although compared to real estate around the nation, Derby homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Derby, accounting for 42.53% of the city's housing units. Other types of housing that are prevalent in Derby include duplexes, homes converted to apartments or other small apartment buildings ( 26.72%), large apartment complexes or high rise apartments ( 15.40%), and a few row houses and other attached homes ( 15.35%).
People in Derby primarily live in small (one, two or no bedroom) single-family detached homes. Derby has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Derby's housing was primarily built during this period, from the '40s through the '60s. A full 41.30% of the city's housing hails from this era. Other housing ages represented in Derby include homes built between 1970-1999 ( 30.18%) and housing constructed before 1939 ( 18.17%). There's also some housing in Derby built between 2000 and later ( 10.34%).
Appreciation rates for homes in Derby have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.78%, which ranks in the top 40% nationwide. This equates to an annual average Derby house appreciation rate of 7.00%.
Appreciation rates are so strong in Derby that despite a nationwide downturn in the housing market, Derby real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Derby appreciation rates continue to be some of the highest in America, at 11.79%, which is higher than appreciation rates in 93.13% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Derby. Derby appreciation rates in the latest quarter were at 0.95%, which equates to an annual appreciation rate of 3.86%.
Relative to Connecticut, our data show that Derby's latest annual appreciation rate is higher than 80% of the other cities and towns in Connecticut.
$354,874
for Connecticut
for nation
5,713
$2,612 / per month