The typical owner-occupied home in Connecticut is worth about $366,900, 10% above the national median of $332,700. Owners pay a median $6,643 a year in property taxes, about 1.81% of their home's value, higher than the national rate of 0.94%. The median household earns $95,781 a year, so the median home costs 3.8 times the median income (4.1 times for the U.S.). 66% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Connecticut at a glance
| Connecticut | U.S. | |
|---|---|---|
| Median home value | $366,900 | $332,700 |
| Median property tax paid per year | $6,643 | $3,119 |
| Property tax as a share of value | 1.81% | 0.94% |
| Median household income | $95,781 | $80,734 |
| Homes lived in by their owners | 66% | 65% |
| Owner homes with a mortgage | 65% | 61% |
| Median monthly costs, owners with a mortgage | $2,429 | $1,963 |
| Those costs as a share of the owners' income | 21.8% | 21.0% |
| Median rent | $1,488 | $1,413 |
| Rent as a share of renters' income | 31.4% | 30.6% |
| Median year homes were built | 1967 | 1980 |
| Vacant homes | 7.0% | 10.1% |
| Population | 3,624,508 | 334,922,499 |
What a typical home costs per month in Connecticut
At this week's average 30-year rate of 7.11%, buying the median Connecticut home of $366,900 with 20% down costs about $2,681 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,292, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $114,892 for the 20%-down payment. That payment is 34% of the median Connecticut household income of $95,781; at that income and 20% down, the 28% guideline points to a home of about $306,000.
The median rent here is $1,488 a month, so owning the median home costs about $1,193 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $73,380 |
|---|---|
| Loan amount | $293,520 |
| Principal and interest | $1,975 |
| Property taxes (1.81% a year) | $553 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| PMI | $0 |
| Total per month | $2,681 |
Change the numbers in the calculator
| Down payment | $12,842 |
|---|---|
| Loan amount | $360,255 |
| Principal and interest | $2,423 |
| Property taxes (1.81% a year) | $553 |
| Homeowners insurance (our estimate, 0.5% a year) | $153 |
| FHA mortgage insurance | $162 |
| Total per month | $3,292 |
Change the numbers in the calculator
Questions about home buying in Connecticut
What is the median home value in Connecticut?
About $366,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Connecticut?
Homeowners pay a median $6,643 a year, which is about 1.81% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Connecticut?
For the median home with 20% down at 7.11%, the payment is about $2,681 a month. Keeping that under 28% of gross income takes about $114,892 a year.
More about Connecticut
- Mortgage Refinance in Connecticut
- Debt Relief in Connecticut
- Home Equity Loans in Connecticut
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data