The typical owner-occupied home in Mystic is worth about $538,800, 47% above the Connecticut median of $366,900 and 62% above the national median of $332,700. Owners pay a median $7,437 a year in property taxes, about 1.38% of their home's value, lower than the Connecticut rate of 1.81%. The median household earns $152,559 a year, so the median home costs 3.5 times the median income (3.8 times for Connecticut). 66% of occupied homes here are lived in by their owners, and 44% of those owners still have a mortgage.
Mystic at a glance
| Mystic | Connecticut | U.S. | |
|---|---|---|---|
| Median home value | $538,800 | $366,900 | $332,700 |
| Median property tax paid per year | $7,437 | $6,643 | $3,119 |
| Property tax as a share of value | 1.38% | 1.81% | 0.94% |
| Median household income | $152,559 | $95,781 | $80,734 |
| Homes lived in by their owners | 66% | 66% | 65% |
| Owner homes with a mortgage | 44% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $3,230 | $2,429 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 21.8% | 21.0% |
| Median rent | $1,993 | $1,488 | $1,413 |
| Rent as a share of renters' income | 24.4% | 31.4% | 30.6% |
| Median year homes were built | 1942 | 1967 | 1980 |
| Vacant homes | 14.1% | 7.0% | 10.1% |
| Population | 4,483 | 3,624,508 | 334,922,499 |
What a typical home costs per month in Mystic
At this week's average 30-year rate of 7.11%, buying the median Mystic home of $538,800 with 20% down costs about $3,744 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,641, 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 $160,446 for the 20%-down payment. That payment is 29% of the median Mystic household income of $152,559; at that income and 20% down, the 28% guideline points to a home of about $512,000.
The median rent here is $1,993 a month, so owning the median home costs about $1,751 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $107,760 |
|---|---|
| Loan amount | $431,040 |
| Principal and interest | $2,900 |
| Property taxes (1.38% a year) | $620 |
| Homeowners insurance (our estimate, 0.5% a year) | $224 |
| PMI | $0 |
| Total per month | $3,744 |
Change the numbers in the calculator
| Down payment | $18,858 |
|---|---|
| Loan amount | $529,041 |
| Principal and interest | $3,559 |
| Property taxes (1.38% a year) | $620 |
| Homeowners insurance (our estimate, 0.5% a year) | $224 |
| FHA mortgage insurance | $238 |
| Total per month | $4,641 |
Change the numbers in the calculator
Questions about home buying in Mystic
What is the median home value in Mystic?
About $538,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mystic?
Homeowners pay a median $7,437 a year, which is about 1.38% 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 Mystic?
For the median home with 20% down at 7.11%, the payment is about $3,744 a month. Keeping that under 28% of gross income takes about $160,446 a year.
More about Mystic
- Mortgage Refinance in Mystic
- Debt Relief in Mystic
- Home Equity Loans in Mystic
- 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