We have four main findings:
- There are more owner-occupied properties than absentee landlord properties in the area.
- Absentee owners tend to live nearby.
- Absentee-owned properties cost less and are more likely to be 3-family than 2-family properties
- The rate of absentee ownership is increasing
- Absentee-owned properties are in a more dilapidated condition than owner- occupied properties.
There are more owner-occupied properties than absentee-owned properties in the area.
There are a total of 639 2- and 3- family properties in the South End.
There are slightly more owner-occupied properties (328) than absentee-owned properties (311).
These properties are distributed throughout the neighborhoods. However, there are some blocks that have more absentee owners and vice versa.
Absentee owners tend to live nearby.
Contrary to expectations, more absentee owners live in CT.
| State of Absentee Owner Residence |
Number of Properties
|
| CT | 284 |
| NY | 13 |
| FL | 3 |
| OK | 2 |
| VA | 2 |
| GA | 1 |
| KY | 1 |
| MA | 1 |
| MT | 1 |
| NJ | 1 |
| SC | 1 |
| UT | 1 |
| Total | 311 |
Not only are absentee owners more likely to live in Connecticut, they tend to live in nearby suburbs, or in Hartford itself. A total of 125 – more than 40% – live in (or have a business address in) Hartford proper. West Hartford has the second highest total, with 34 absentee owners.
Absentee-owned properties cost less and are more likely to be 3-family than 2-family properties
The last sales price of absentee-owner properties is less, on average, than owner-occupied properties.
Absentee-owned properties are more likely to be 3-family properties rather than 2-family properties.
The Rate of Absentee Ownership is Increasing
Owner occupancy is becoming less common. Properties bought before 2000 were more likely to be owner-occupied than properties bought after 2010.