Total monthly cost of ownership
Cost to Own a Home in Coleytown, Connecticut
A $1,513,000 home here costs
$11,144per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $477,500 a year.
A standard mortgage calculator would have told you $8,249. The real number is $2,895 higher every month, 35% more than the payment most buyers budget for.
Compare Western Connecticut Planning Region with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Coleytown from a five-year rolling sample, and with about 3,479 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Western Connecticut Planning Region figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Coleytown against Western Connecticut Planning Region and Connecticut
| Measure | Coleytown | Western Connecticut Planning Region |
|---|---|---|
| Median home value | $1,513,400 | $625,400 |
| Median property tax | $10,001 | $9,222 |
| Effective tax rate | 0.661% | 1.475% |
| Median gross rent | — | $2,060 |
| Population | 3,479 | 621,232 |
The weather behind that power bill
Coleytown sits in Western Connecticut Planning Region, which averages a high of 82.4°F in its hottest month and a low of 18.1°F in its coldest, with 48.03" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 594 cooling and 6,158 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Western Connecticut Planning Region , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Western Connecticut Planning Region
Full Western Connecticut Planning Region cost breakdown · Every county in Connecticut
Talk to someone who works this market
These are Coleytown averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Coleytown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Coleytown I already own here and may sell
Common questions
How much does it cost to own a home in Coleytown?
A $1,513,000 home in Coleytown, Connecticut costs approximately $11,144 per month with 20% down at 7.24%. That is $8,249 principal and interest, $833 property tax, $562 homeowners insurance, $238 utilities and $1,261 set aside for maintenance.
What is the property tax rate in Coleytown?
Coleytown has an effective property tax rate of 0.661%, based on a median home value of $1,513,400 and median real estate taxes of $10,001. That is lower than the Western Connecticut Planning Region average of 1.475%.
What is the average home price in Coleytown?
The median owner-occupied home value in Coleytown, Connecticut is $1,513,400, against $625,400 across Western Connecticut Planning Region.
Is it cheaper to rent or buy in Coleytown?
Rent data is not published for Coleytown at this level of detail.
What salary do you need to buy a home in Coleytown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Coleytown, Connecticut at today's rate takes a household income of roughly $477,500 a year. That covers the full $11,144 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Coleytown, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Connecticut.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.