Groton (New London), CT

Population: 27,545
Average annual home appreciation rate: 1.04%
Total of homes for sale in this market: 963
Median home price: $178,444
Median Rent: $994 per room
Home price range: 50.53% of homes are between $95,001 – $189,000
Median sales price: $50,200
Number of homes: 759
Median foreclosure sales price: $135,950
Foreclosure discount: No data
Most common home type: 33.98% of homes are COMPLEXES OR HIGH RISE APARTMENTS
Number of vacant homes: 10.83%
Number of renters: 68.91%
Number of owner occupied: 31.09%
Number people living below poverty level: 24.91%
Unemployment rate: 4.70%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the New London area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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