A new report on HomeArea has cited a city in Fairfield County among its list of areas that underwent the greatest increase in median home price.
The findings were released by the Census Bureau and initially gathered from the American Community Survey based on cities in Connecticut that have 60,000 residents or more.
Norwalk made the No. 8 spot on the list, with a median multiple of 6.0. The median multiple is the value that indicates how many years it would take with the median income to pay off the median home price. This shows a 1.1 increase over last year’s median multiple of 4.9.
As a whole, the findings cited a 21.8 percent rise in Norwalk’s median home price, making for the largest increase in the state.
To view the full list of median home price rankings for Connecticut, click here.
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