Total monthly cost of ownership
Cost to Own a Home in Derby, Connecticut
A $242,000 home here costs
$2,305per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,244. The real number is $1,061 higher every month — 85% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Derby against Naugatuck Valley Planning Region and Connecticut
| Measure | Derby | Naugatuck Valley Planning Region |
|---|---|---|
| Median home value | $242,300 | $290,800 |
| Median property tax | $5,474 | $5,926 |
| Effective tax rate | 2.259% | 2.038% |
| Median gross rent | $1,453 | $1,288 |
| Population | 12,359 | 452,303 |
The weather behind that power bill
Derby sits in Naugatuck Valley Planning Region, which averages a high of 84.0°F in its hottest month and a low of 18.7°F in its coldest, with 44.86" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 718 cooling and 5,892 heating degree days, which is what sets the $246 electricity line above.
See the full climate breakdown for Naugatuck Valley Planning Region — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Naugatuck Valley Planning Region
Full Naugatuck Valley Planning Region cost breakdown · Every county in Connecticut
Common questions
How much does it cost to own a home in Derby?
A $242,000 home in Derby, Connecticut costs approximately $2,305 per month with 20% down at 6.66%. That is $1,244 principal and interest, $456 property tax, $90 homeowners insurance, $314 utilities and $202 set aside for maintenance.
What is the property tax rate in Derby?
Derby has an effective property tax rate of 2.259%, based on a median home value of $242,300 and median real estate taxes of $5,474. That is higher than the Naugatuck Valley Planning Region average of 2.038%.
What is the average home price in Derby?
The median owner-occupied home value in Derby, Connecticut is $242,300, against $290,800 across Naugatuck Valley Planning Region.
Is it cheaper to rent or buy in Derby?
Median gross rent in Derby is $1,453 a month, against $2,305 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Derby — 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.