Cities with the most expensive homes in the Norwich metro area

Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. But with home prices reaching record heights, plays a huge role for buyers.

The typical home value in the United States was $369,678 in August, 1.3% higher than the year before.

High mortgage rates are also making monthly payments more expensive; as of September 17, the sits at 6.95%.

Although home prices have inflated all across the U.S., there are some cities that command a higher price tag than others. Location, size, age, and condition are all contributing factors to home value.

compiled a list of cities with the most expensive homes in the Norwich metro area using data from . Charts show the monthly typical home value since January 2018. All 21 cities and towns with data available were included in the list.

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#21. Norwich, CT

- Typical home value: $306,163
- 1-year price change: +6.3%
- 5-year price change: +53.9%

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#20. New London, CT

- Typical home value: $331,435
- 1-year price change: +5.4%
- 5-year price change: +52.8%

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#19. Griswold, CT

- Typical home value: $361,766
- 1-year price change: +3.8%
- 5-year price change: +35.0%

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#18. Montville, CT

- Typical home value: $366,432
- 1-year price change: +6.7%
- 5-year price change: +38.4%

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#17. Sprague, CT

- Typical home value: $374,329
- 1-year price change: +9.8%
- 5-year price change: +47.4%

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#16. Lisbon, CT

- Typical home value: $398,416
- 1-year price change: +5.8%
- 5-year price change: +34.9%

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#15. Bozrah, CT

- Typical home value: $407,181
- 1-year price change: +7.7%
- 5-year price change: data not available

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#14. Ledyard, CT

- Typical home value: $418,937
- 1-year price change: +7.8%
- 5-year price change: +42.7%

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#13. Franklin, CT

- Typical home value: $422,456
- 1-year price change: +7.4%
- 5-year price change: +41.7%

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#12. Lebanon, CT

- Typical home value: $429,267
- 1-year price change: +5.3%
- 5-year price change: +47.8%

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#11. Preston, CT

- Typical home value: $429,768
- 1-year price change: +6.9%
- 5-year price change: +40.5%

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#10. Waterford, CT

- Typical home value: $433,247
- 1-year price change: +5.7%
- 5-year price change: +40.0%

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#9. Colchester, CT

- Typical home value: $447,001
- 1-year price change: +6.1%
- 5-year price change: +39.7%

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#8. Groton, CT

- Typical home value: $447,813
- 1-year price change: +5.9%
- 5-year price change: +40.3%

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#7. Voluntown, CT

- Typical home value: $449,492
- 1-year price change: +13.7%
- 5-year price change: +53.6%

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#6. North Stonington, CT

- Typical home value: $471,771
- 1-year price change: +7.3%
- 5-year price change: +41.4%

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#5. Salem, CT

- Typical home value: $478,108
- 1-year price change: +8.4%
- 5-year price change: +45.1%

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#4. East Lyme, CT

- Typical home value: $535,448
- 1-year price change: +5.3%
- 5-year price change: +36.6%

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#3. Stonington, CT

- Typical home value: $646,773
- 1-year price change: +8.3%
- 5-year price change: +45.3%

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#2. Old Lyme, CT

- Typical home value: $688,434
- 1-year price change: +12.0%
- 5-year price change: +48.1%

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#1. Lyme, CT

- Typical home value: $807,778
- 1-year price change: +6.3%
- 5-year price change: +35.4%

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