The typical owner-occupied home in Stonington is worth about $879,800, 2.4 times the Connecticut median of $366,900 and 2.6 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.14% of their home's value, lower than the Connecticut rate of 1.81%. The median household earns $109,167 a year, so the median home costs 8.1 times the median income (3.8 times for Connecticut). 62% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Stonington at a glance
| Stonington | Connecticut | U.S. | |
|---|---|---|---|
| Median home value | $879,800 | $366,900 | $332,700 |
| Median property tax paid per year | $10,001 | $6,643 | $3,119 |
| Property tax as a share of value | 1.14% | 1.81% | 0.94% |
| Median household income | $109,167 | $95,781 | $80,734 |
| Homes lived in by their owners | 62% | 66% | 65% |
| Owner homes with a mortgage | 52% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $3,697 | $2,429 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 21.8% | 21.0% |
| Median rent | $1,488 | $1,488 | $1,413 |
| Rent as a share of renters' income | 25.4% | 31.4% | 30.6% |
| Median year homes were built | 1938 | 1967 | 1980 |
| Vacant homes | 29.8% | 7.0% | 10.1% |
| Population | 934 | 3,624,508 | 334,922,499 |
What a typical home costs per month in Stonington
At this week's average 30-year rate of 7.11%, buying the median Stonington home of $879,800 with 20% down costs about $5,937 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,544, 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 $254,450 for the 20%-down payment. That payment is 65% of the median Stonington household income of $109,167; at that income and 20% down, the 28% guideline points to a home of about $377,000.
The median rent here is $1,488 a month, so owning the median home costs about $4,449 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $175,960 |
|---|---|
| Loan amount | $703,840 |
| Principal and interest | $4,735 |
| Property taxes (1.14% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $367 |
| PMI | $0 |
| Total per month | $5,937 |
Change the numbers in the calculator
| Down payment | $30,793 |
|---|---|
| Loan amount | $863,865 |
| Principal and interest | $5,811 |
| Property taxes (1.14% a year) | $836 |
| Homeowners insurance (our estimate, 0.5% a year) | $367 |
| FHA mortgage insurance | $531 |
| Total per month | $7,544 |
Change the numbers in the calculator
Questions about home buying in Stonington
What is the median home value in Stonington?
About $879,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Stonington?
Homeowners pay a median $10,001 a year, which is about 1.14% 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 Stonington?
For the median home with 20% down at 7.11%, the payment is about $5,937 a month. Keeping that under 28% of gross income takes about $254,450 a year.
More about Stonington
- Mortgage Refinance in Stonington
- Debt Relief in Stonington
- Home Equity Loans in Stonington
- 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