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Mortgage Calculator Connecticut — 2026 Payment Estimates
Pre-filled with Connecticut's estimated median home price of $385,000 and 1.79% effective property tax rate. Adjust any input for your specific situation. All calculations run in your browser.
Reviewed for accuracy June 2026 by Gary Sing
Median home price
$385,000
Monthly P&I (30yr)
$1,946.77
Property tax/month
$574.29
Est. total PITI/month
$2,665.44
Optional — unlocks affordability analysis
Enter gross income to check affordability
At the 28% front-end guideline, this payment requires ~$83,433/year in gross income. The monthly shown is principal and interest only — add ~$29 for taxes, insurance.
- ›A 15-year term saves $217,895 in total interest but raises the payment by $736/month
- ›Total interest ($392,837) exceeds the loan itself ($308,000) — every extra principal payment saves its full remaining interest
⚡ Total interest ($392,837) exceeds the loan principal — consider extra principal payments or a shorter term
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Connecticut mortgage payment scenarios — $385,000 home at 6.5%
Monthly P&I and estimated total PITI (principal, interest, tax, insurance) at three down payment levels. Property tax uses Connecticut's 1.79% effective rate; insurance estimated at 0.45% of home value annually.
| Down payment | Down amount | P&I (30yr) | P&I (15yr) | Total PITI (30yr) |
|---|---|---|---|---|
| 10% down | $38,500 | $2,190.12 | $3,018.39 | $2,908.78 |
| 15% down | $57,750 | $2,068.44 | $2,850.70 | $2,787.11 |
| 20% down | $77,000 | $1,946.77 | $2,683.01 | $2,665.44 |
P&I only (30yr and 15yr). PITI adds property tax (1.79%) and estimated homeowners insurance (0.45% annually). Does not include PMI — required when down payment is below 20%.
Property tax and insurance in Connecticut
Connecticut has one of the highest effective property tax rates in the US at about 1.79%. On a $385,000 home, that adds approximately $575/month to the total payment — a substantial carrying cost relative to the purchase price.
Connecticut property tax
Effective rate: 1.79%. On a $385,000 home, annual property taxes are approximately $6,892 — or $574.29/month. Many lenders collect this monthly into an escrow account.
Homeowners insurance
Estimated at 0.45% of home value annually — roughly $144.37/month on a $385,000 home. Rates vary by coverage, age of home, and local risk factors. Get quotes from multiple insurers before closing.
PMI (if under 20% down)
Private Mortgage Insurance is required on conventional loans with less than 20% down, typically costing 0.5–1.5% of the loan amount per year. On a $308,000 loan, PMI adds roughly $231.00–$385.00/month.
Income needed
The 28% front-end DTI guideline requires approximately $114,233/year in gross income to qualify for the median Connecticut home with 20% down. This is principal, interest, tax, and insurance — not counting other debt.
Connecticut housing market 2026
Connecticut serves as a bedroom market for New York City. Fairfield County — Greenwich, Stamford, Westport — commands the highest prices as a NYC commuter corridor. Hartford and New Haven are more affordable. Remote work permanently increased demand, particularly in Litchfield County.
Key numbers for Connecticut buyers
- Median home price: $385,000 (2026 estimate)
- Down payment (20%): $77,000
- Loan amount (80% LTV): $308,000
- Monthly P&I at 6.5% / 30yr: $1,946.77
- Est. PITI (with tax + insurance): $2,665.44/month
- Income needed (28% DTI): $114,233/year
Compare mortgage payments by state
📍 California
Median $750,000 · ~$3,793/mo P&I · 0.73% tax
📍 Texas
Median $315,000 · ~$1,593/mo P&I · 1.6% tax
📍 Florida
Median $405,000 · ~$2,048/mo P&I · 0.89% tax
📍 New York
Median $415,000 · ~$2,099/mo P&I · 1.4% tax
📍 Georgia
Median $325,000 · ~$1,643/mo P&I · 0.83% tax
📍 Arizona
Median $365,000 · ~$1,846/mo P&I · 0.6% tax
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Mortgage calculator Connecticut — frequently asked questions
What is the average mortgage payment in Connecticut?
Based on Connecticut's median home price of $385,000, a 30-year mortgage at 6.5% with 20% down produces a monthly principal and interest payment of $1,946.77. Adding property tax (~$574.29/month at 1.79%) and homeowners insurance (~$144.37/month) gives an estimated total PITI of approximately $2,665.44/month.
What is the median home price in Connecticut in 2026?
The estimated median home price in Connecticut in 2026 is approximately $385,000. Prices vary significantly by metro area — use this as a benchmark and enter the specific price you are evaluating in the calculator above.
How much income do I need to afford a house in Connecticut?
Using the 28% front-end DTI guideline, an estimated total monthly payment (PITI) of $2,665.44 on the median Connecticut home requires approximately $114,233/year in gross income. This assumes 20% down, 6.5% rate, 30-year term, and 1.79% property tax.
What are property taxes in Connecticut?
Connecticut's effective property tax rate is approximately 1.79%. On a $385,000 home, that is roughly $574.29/month or $6,892/year. Connecticut has one of the highest effective property tax rates in the US at about 1.79%. On a $385,000 home, that adds approximately $575/month to the total payment — a substantial carrying cost relative to the purchase price.
Is a 15-year or 30-year mortgage better in Connecticut?
At 6.5% on a $385,000 home with 20% down: the 30-year P&I is $1,946.77/month; the 15-year P&I is $2,683.01/month — $736.24/month more. The 15-year saves $217,895 in total interest. If the higher payment is affordable, the 15-year is almost always the better long-term financial choice.