Total monthly cost of ownership
Cost to Own a Home in Torrington, Connecticut
A $196,000 home here costs
$1,972per 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 $84,500 a year.
A standard mortgage calculator would have told you $1,069. The real number is $903 higher every month, 85% more than the payment most buyers budget for.
Compare Northwest Hills Planning Region with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Torrington against Northwest Hills Planning Region and Connecticut
| Measure | Torrington | Northwest Hills Planning Region |
|---|---|---|
| Median home value | $195,800 | $311,700 |
| Median property tax | $5,138 | $5,609 |
| Effective tax rate | 2.624% | 1.799% |
| Median gross rent | $1,101 | $1,169 |
| Population | 35,481 | 112,848 |
The weather behind that power bill
Torrington sits in Northwest Hills Planning Region, which averages a high of 78.4°F in its hottest month and a low of 14.1°F in its coldest, with 52.94" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 370 cooling and 7,311 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Northwest Hills Planning Region , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Northwest Hills Planning Region
Full Northwest Hills Planning Region cost breakdown · Every county in Connecticut
Talk to someone who works this market
These are Torrington 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 Torrington every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Torrington I already own here and may sell
Common questions
How much does it cost to own a home in Torrington?
A $196,000 home in Torrington, Connecticut costs approximately $1,972 per month with 20% down at 7.24%. That is $1,069 principal and interest, $429 property tax, $73 homeowners insurance, $238 utilities and $163 set aside for maintenance.
What is the property tax rate in Torrington?
Torrington has an effective property tax rate of 2.624%, based on a median home value of $195,800 and median real estate taxes of $5,138. That is higher than the Northwest Hills Planning Region average of 1.799%.
What is the average home price in Torrington?
The median owner-occupied home value in Torrington, Connecticut is $195,800, against $311,700 across Northwest Hills Planning Region.
Is it cheaper to rent or buy in Torrington?
Median gross rent in Torrington is $1,101 a month, against $1,972 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Torrington?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Torrington, Connecticut at today's rate takes a household income of roughly $84,500 a year. That covers the full $1,972 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Torrington, 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.