Estimate your monthly mortgage payment in Connecticut — principal & interest plus Connecticut property tax and homeowner’s insurance.
Buying a home in Connecticut: what to know
Connecticut’s typical home value reached about $451,000 in August 2026 (Zillow ZHVI, up 5.0% year over year) — but the state carries the third-highest property tax burden in the country at a 1.91% median effective rate. This calculator pre-fills the $451,000 median price and Connecticut’s 1.91% tax rate, adds the $1,814/year average homeowner’s insurance premium, and includes PMI until you reach 20% equity. Connecticut CHFA’s Time To Own forgivable loan (up to $25,000) and DAP loan (up to $15,000) can cut upfront costs substantially — details below.
Connecticut mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 ($977,500 in the Western Connecticut and Greater Bridgeport planning regions — the Fairfield County/Gold Coast area; $851,000 in Naugatuck Valley) |
| Median home price | $450,873 |
| Median effective property tax rate | 1.91% |
| Average homeowner’s insurance | $1,814/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (August 2026), Tax Foundation (2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Connecticut first-time buyer programs
- CHFA Time To Own (TTO) — Up to $25,000 (or up to $50,000 in High/Very High Opportunity Areas) as a 0%-interest forgivable loan with no monthly payments — 10% of the balance is forgiven each year and the loan disappears entirely after 10 years. Must pair with a CHFA first mortgage; requires three years of Connecticut residency and income at or below 100% AMI. Funding is finite and reserved first-come, first-served. Official site
- CHFA Downpayment Assistance Program (DAP) Loan — Up to $15,000 as a low-interest second mortgage covering down payment and closing costs — the rate is the lesser of your first-mortgage rate or 5%, repaid over 10 to 30 years. Requires a CHFA first mortgage, a free homebuyer education class, and first-time-buyer status (waived in targeted areas). Official site
How to use this calculator
Start with the pre-filled $450,873 statewide median price, then enter your down payment — 20% down avoids PMI, and anything less adds it (unlike FHA loans, conventional PMI cancels at 20% equity). Connecticut’s 1.91% property tax rate is applied automatically, but note the huge town-to-town spread: mill rates in Gold Coast towns differ sharply from Hartford-area towns, so override the tax estimate with your town’s mill rate for a precise figure. Adjust the interest rate to your actual quote, and remember that buyers in the Fairfield County area can borrow up to $977,500 and still stay within conforming limits.
Worked example: a median Connecticut home
Take a median-priced Connecticut home at $450,873. With 20% down ($90,174.60), the loan amount is $360,698.40. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $2,497.40/month. Add property tax of about $717.64/month (1.91% of $450,873, divided by 12) and insurance of about $151.17/month ($1,814 a year), for a total estimated payment of $3,366.21/month. Over 30 years, total interest would be about $538,366.63. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Connecticut for 2026?
The 2026 FHFA baseline is $832,750 for a one-unit home, per the FHFA’s November 2025 announcement, applying in six of Connecticut’s nine planning regions. The two high-cost regions covering the Fairfield County/Gold Coast area — Western Connecticut and Greater Bridgeport (Stamford, Greenwich, Norwalk, Danbury, Bridgeport) — sit at $977,500, and Naugatuck Valley is $851,000. Note: since 2024, Connecticut’s limits are set by planning region rather than county.
How much are property taxes in Connecticut?
The median effective property tax rate in Connecticut is about 1.91% (Tax Foundation, 2026 (2024 ACS data)) — the third-highest in the nation. On a $450,873 home, that’s roughly $8,612 a year, or $718 a month — already included in the calculator above. Actual bills vary enormously by town, since all 169 municipalities set their own mill rates.
How does Connecticut’s property tax system work without county government?
Connecticut abolished county government in 1960, so property taxes are levied entirely at the municipal level — each of the state’s 169 towns and cities sets its own mill rate on assessed value. There is no county tax layer, which is one reason mill rates (and effective burdens) differ so sharply between, say, Greenwich and Waterbury.
What is CHFA’s Time To Own program?
Time To Own is Connecticut’s flagship forgivable down payment assistance: up to $25,000 ($50,000 in designated high-opportunity areas) at 0% interest with no monthly payments, forgiven 10% per year and fully erased after 10 years of owner occupancy. It must pair with a CHFA first mortgage, requires three consecutive years of Connecticut residency and income within program limits, and funding is capped — reservations go first-come, first-served through participating lenders.
How is Connecticut’s housing market doing in 2026?
Connecticut’s typical home value hit $450,873 in August 2026 (Zillow ZHVI), up 5.0% year over year — the sixth-fastest appreciation in the country, driven by tight supply (under two months of inventory statewide). The market remains seller-leaning with homes clearing near asking, though upper-6% mortgage rates are capping how far bidding can run.