What’s the average mortgage payment in Connecticut?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Connecticut is around $2,477 before property taxes and insurance. Connecticut sits in the Northeast region, one of the most expensive housing markets in the country, which means the state’s average mortgage payment is often significantly higher than the national average, even when interest rates themselves are comparable across states.

Overview of the Connecticut housing market

The median sale price in Connecticut is about $459,000 as of November 2025, reflecting strong year-over-year growth driven by limited inventory, ongoing demand from out-of-state buyers, and highly competitive markets in cities like Noroton Heights and Sherwood Manor.

Here’s a snapshot of recent median sale prices from Redfin:

Factors that influence mortgage payments in Connecticut

Your monthly mortgage payment is made up of principal, interest, taxes, and insurance (PITI). The Rocket Mortgage® mortgage calculator breaks down how each component affects your monthly costs and allows you to model various interest rates, down payments, and loan terms.

Home price and down payment

In Connecticut, home price is often the biggest factor influencing your mortgage payment. Assuming a 6.5% interest rate and 20% down payment on a median-priced home of $459,000, you’ll pay around $2,321 per month on a 30-year mortgage.

Buyers who put down less than 20% typically pay for private mortgage insurance (PMI), which can add over $200 to the monthly cost.

Mortgage rate

Your Connecticut mortgage rate depends on several factors:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market conditions

Even small changes in mortgage rates can meaningfully impact your monthly payment, especially in higher-priced markets like Fairfield County.

Loan term

A 30-year fixed mortgage spreads payments over a longer period, reducing the monthly cost but increasing total interest paid. On the flipside, a 15-year mortgage raises the monthly payment but shortens the repayment time and lowers overall interest expenses.

Property taxes and insurance

Connecticut has some of the highest property taxes in the United States, with an effective rate averaging around 1.92% of a home’s value, or roughly $730 per month.

Homeowners insurance varies by region, home age, and proximity to the coast, where wind-related risks can raise premiums. The average Connecticut home owner pays about $226 per month.

How do mortgage payments in Connecticut compare to others in the region?

Mortgage rates themselves do not vary much across states, but total monthly mortgage payments differ significantly because home prices and property taxes vary widely.

Here’s how Connecticut compares with neighboring states:

Connecticut’s high monthly payments are driven by relatively elevated home prices, strong buyer demand, and some of the highest property taxes in the country.

Average monthly mortgage payments in Connecticut cities

Here’s how some of Connecticut’s largest cities stack up when it comes to monthly mortgage payments:

Stamford and Norwalk are located near Connecticut’s western border, which it shares with New York. They are both within driving distance of New York City, which could explain the higher home prices and mortgage payments.

How to calculate your mortgage payment

Lenders typically use a standard amortization formula based on the loan balance, interest rate, and loan term to calculate a monthly mortgage payment. The Rocket Mortgage mortgage calculator is a helpful resource for exploring different purchase scenarios and estimating total monthly costs.

You can also explore other tools from Rocket Mortgage to understand affordability, refinancing options, and how different down payments change the cost of buying a home.

Connecticut-specific mortgage resources

Connecticut homebuyers have access to multiple state and local assistance programs that may help lower upfront costs or secure more affordable loan terms:

• Connecticut Housing Finance Authority (CHFA): Provides below-market-rate loans, down-payment assistance, and programs supporting first-time buyers.
• CHFA Downpayment Assistance Program: Offers low-interest or deferred-payment loans to help buyers cover upfront costs.

Average mortgage payment in Connecticut FAQ

Why are mortgage payments in Connecticut so high?

There are many contributing factors to Connecticut being one of the most expensive housing markets in the country. High property tax rates and the proximity of several major population centers to New York City are among the reasons why Connecticut is as expensive as it is.

Which city has the most competitive housing market?

According to Redfin data, the most competitive housing market in Connecticut is Noroton Heights, where homes on average sell 11% above the list price.

How much do you need to make to afford a home in Connecticut?

Using the standard “28/36” income-to-debt guideline, a typical household should spend no more than about 28% of gross monthly income on housing costs. With an average mortgage payment of $2,477, a Connecticut buyer might ideally earn around $8,800 per month (roughly $105,000 per year), depending on taxes, insurance, and other recurring debts.

The bottom line: Multiple factors shape your mortgage payment in Connecticut

Connecticut’s above-average home prices, limited inventory, and relatively high property taxes all contribute to higher monthly mortgage payments compared with many U.S. states. Still, a wide range of affordability exists across counties, with eastern and northern regions offering more budget-friendly options. Keeping an eye on local market trends can help buyers evaluate affordability and find the ideal home.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD. 

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.