predicts this CT metro as the No. 1 housing market in the United States for 2023

Photo of Amy Coval recently released its “Top 10 Markets 2023” report and named the Hartford metropolitan area No. 1 in the nation. 

The report looks at sales and price growth to demonstrate why it thinks each top 10 market is poised to perform well in 2023. For starters, the report said renters and buyers are prioritizing affordability as they emerge from a tumultuous and pricey 2022 real estate year, and that the top 10 metros for 2023 reflect the need for cost-conscious moves.

Hartford is anticipated to see a 6.5 percent increase in sales growth and an 8.5 percent growth in prices in the new year, leading to a combined growth of 15 percent — the highest rate of any metro area in the United States. said this strong shift toward affordability pushed markets where buying is attainable to the top, with Hartford leading the charge. Hartford’s median home price in 2022 was $372,000  — 11.7 percent less than the national average at $415,750. 

In addition to affordable housing options, Hartford is equipped with a “solid mix of local economic conditions” and “proximity to larger employment centers” — two factors that the report finds crucial in making a top market. 

In terms of mortgage rates, found that its top 10 metros were relatively insulated from the dramatic rate increases. Because more people outright own homes in the area (without a mortgage) and there are higher rates of federally-backed loans that make room for first-time homeowners, Hartford was able to avoid the shock of high mortgage rates, the report said. In fact, out of’s top 10 markets, Hartford had the fourth-highest rate of FHA loans (government-backed mortgages insured by the Federal Housing Administration) at 15.4 percent.

The other thing pushing Hartford to No. 1 is that it is not a pandemic-era hotspot, the report said. Hartford did not experience intense growth during the pandemic like some Fairfield County cities did, meaning it “experienced a relatively smaller affordability crunch than other markets.”

The top 10 metros for 2023 also represent a renewed demand for jobs in manufacturing, healthcare and education — employment sectors that did not necessarily see large growth during COVID times like the the information and tech industries did. reports that 19.2 percent of Harford residents are employed in the education and healthcare industries alone, and that tech jobs are less common in the area.

Hartford’s equidistance from Boston and New York City also makes it desirable for its wide employment potential. This is why Hartford had 49.1 percent of its home shopping traffic come from other states, and particularly from other metros like Boston, New York City and Washington D.C, said. Hartford is attractive to movers from these cities which have median home prices over $300,000 more than the Hartford area.

While Hartford was listed at the No. 1 metro by, two other Connecticut metros made it into the top 100. The New Haven-Milford area came in at No. 57 and Bridgeport-Stamford-Norwalk area came in at No. 72 for the company’s projected housing markets poised for growth in 2023.