The typical owner-occupied home in Oakville is worth about $280,500, 24% below the Connecticut median of $366,900 and 16% below the national median of $332,700. Owners pay a median $4,916 a year in property taxes, about 1.75% of their home's value, close to the Connecticut rate of 1.81%. The median household earns $95,515 a year, so the median home costs 2.9 times the median income (3.8 times for Connecticut). 75% of occupied homes here are lived in by their owners, and 70% of those owners still have a mortgage.
Oakville at a glance
| Oakville | Connecticut | U.S. | |
|---|---|---|---|
| Median home value | $280,500 | $366,900 | $332,700 |
| Median property tax paid per year | $4,916 | $6,643 | $3,119 |
| Property tax as a share of value | 1.75% | 1.81% | 0.94% |
| Median household income | $95,515 | $95,781 | $80,734 |
| Homes lived in by their owners | 75% | 66% | 65% |
| Owner homes with a mortgage | 70% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $2,132 | $2,429 | $1,963 |
| Those costs as a share of the owners' income | 22.0% | 21.8% | 21.0% |
| Median rent | $1,414 | $1,488 | $1,413 |
| Rent as a share of renters' income | 32.9% | 31.4% | 30.6% |
| Median year homes were built | 1965 | 1967 | 1980 |
| Vacant homes | 7.3% | 7.0% | 10.1% |
| Population | 9,276 | 3,624,508 | 334,922,499 |
What a typical home costs per month in Oakville
At this week's average 30-year rate of 7.11%, buying the median Oakville home of $280,500 with 20% down costs about $2,035 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,503, 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 $87,235 for the 20%-down payment. That payment is 26% of the median Oakville household income of $95,515; at that income and 20% down, the 28% guideline points to a home of about $307,000.
The median rent here is $1,414 a month, so owning the median home costs about $621 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,100 |
|---|---|
| Loan amount | $224,400 |
| Principal and interest | $1,510 |
| Property taxes (1.75% a year) | $409 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| PMI | $0 |
| Total per month | $2,035 |
Change the numbers in the calculator
| Down payment | $9,818 |
|---|---|
| Loan amount | $275,419 |
| Principal and interest | $1,853 |
| Property taxes (1.75% a year) | $409 |
| Homeowners insurance (our estimate, 0.5% a year) | $117 |
| FHA mortgage insurance | $124 |
| Total per month | $2,503 |
Change the numbers in the calculator
Questions about home buying in Oakville
What is the median home value in Oakville?
About $280,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oakville?
Homeowners pay a median $4,916 a year, which is about 1.75% 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 Oakville?
For the median home with 20% down at 7.11%, the payment is about $2,035 a month. Keeping that under 28% of gross income takes about $87,235 a year.
More about Oakville
- Mortgage Refinance in Oakville
- Debt Relief in Oakville
- Home Equity Loans in Oakville
- 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