How Much House Can I Afford in Connecticut?
Find out how much house you can afford in Connecticut with 2.14% property tax. Uses 28/36 rule with Connecticut-specific data.
How This Calculator Works
Calculation methodology and assumptions
Calculates home affordability in Connecticut using the 28/36 rule. Maximum 28% of gross monthly income for housing (PITI). Includes Connecticut's effective property tax rate of 2.14% and average home insurance of $1,750/year. Median home price in Connecticut: $380,000.
Key State Information
Connecticut housing market: Median home price $380,000 | Property tax rate 2.14% | Avg home insurance $1,750/yr | Median household income $83,771. Home prices are moderate relative to income.
Frequently Asked Questions
How much house can I afford on the median income in Connecticut?
With Connecticut's median household income of $83,771 and a 10% down payment, you can typically afford a home priced around $293,199-$376,970 depending on debts and interest rates. The median home in Connecticut costs $380,000.
What is the property tax rate in Connecticut?
Connecticut's effective property tax rate is 2.14%. On a $380,000 home, that's approximately $8,132/year or $678/month.
Related Calculators
More Mortgage Calculators
More Calculators for Connecticut
Explore related financial tools with Connecticut data