Total monthly cost of ownership
Cost to Own a Home in New Haven, Connecticut
A $249,000 home here costs
$2,414per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,280. The real number is $1,133 higher every month — 89% 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.
New Haven against South Central Connecticut Planning Region and Connecticut
| Measure | New Haven | South Central Connecticut Planning Region |
|---|---|---|
| Median home value | $249,000 | $328,300 |
| Median property tax | $6,232 | $6,676 |
| Effective tax rate | 2.503% | 2.034% |
| Median gross rent | $1,442 | $1,463 |
| Population | 132,893 | 566,803 |
The weather behind that power bill
New Haven sits in South Central Connecticut Planning Region, which averages a high of 82.1°F in its hottest month and a low of 23.0°F in its coldest, with 41.79" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 765 cooling and 5,455 heating degree days, which is what sets the $246 electricity line above.
See the full climate breakdown for South Central Connecticut Planning Region — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in South Central Connecticut Planning Region
Full South Central Connecticut Planning Region cost breakdown · Every county in Connecticut
Common questions
How much does it cost to own a home in New Haven?
A $249,000 home in New Haven, Connecticut costs approximately $2,414 per month with 20% down at 6.66%. That is $1,280 principal and interest, $519 property tax, $93 homeowners insurance, $314 utilities and $208 set aside for maintenance.
What is the property tax rate in New Haven?
New Haven has an effective property tax rate of 2.503%, based on a median home value of $249,000 and median real estate taxes of $6,232. That is higher than the South Central Connecticut Planning Region average of 2.034%.
What is the average home price in New Haven?
The median owner-occupied home value in New Haven, Connecticut is $249,000, against $328,300 across South Central Connecticut Planning Region.
Is it cheaper to rent or buy in New Haven?
Median gross rent in New Haven is $1,442 a month, against $2,414 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 New Haven — 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.