Total monthly cost of ownership
Cost to Own a Home in Waterford, Connecticut
A $246,000 home here costs
$2,173per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,265. The real number is $908 higher every month — 72% 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.
Waterford against Southeastern Connecticut Planning Region and Connecticut
| Measure | Waterford | Southeastern Connecticut Planning Region |
|---|---|---|
| Median home value | $245,600 | $293,900 |
| Median property tax | $3,563 | $5,146 |
| Effective tax rate | 1.451% | 1.751% |
| Median gross rent | $1,618 | $1,316 |
| Population | 3,496 | 279,025 |
The weather behind that power bill
Waterford sits in Southeastern Connecticut Planning Region, which averages a high of 84.1°F in its hottest month and a low of 21.2°F in its coldest, with 52.18" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 802 cooling and 5,579 heating degree days, which is what sets the $246 electricity line above.
See the full climate breakdown for Southeastern Connecticut Planning Region — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Southeastern Connecticut Planning Region
Full Southeastern Connecticut Planning Region cost breakdown · Every county in Connecticut
Common questions
How much does it cost to own a home in Waterford?
A $246,000 home in Waterford, Connecticut costs approximately $2,173 per month with 20% down at 6.66%. That is $1,265 principal and interest, $297 property tax, $91 homeowners insurance, $314 utilities and $205 set aside for maintenance.
What is the property tax rate in Waterford?
Waterford has an effective property tax rate of 1.451%, based on a median home value of $245,600 and median real estate taxes of $3,563. That is lower than the Southeastern Connecticut Planning Region average of 1.751%.
What is the average home price in Waterford?
The median owner-occupied home value in Waterford, Connecticut is $245,600, against $293,900 across Southeastern Connecticut Planning Region.
Is it cheaper to rent or buy in Waterford?
Median gross rent in Waterford is $1,618 a month, against $2,173 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 Waterford — 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.