With a 6.99% top income tax rate and 1.96% property tax, Connecticut homeowners face a moderate combined tax burden. This calculator is pre-filled with Connecticut numbers: $395,000 median price, 1.96% property tax, $1,750/year insurance.
Last updated: March 13, 2026
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Monthly Payment (Connecticut)$0
Loan Details — Connecticut
Connecticut median: $395,000
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Below 20% triggers PMI on conventional loans
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Average 30-year fixed ~6.75% (March 2026)
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Connecticut average: 1.96%
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Connecticut average: $1,750/yr
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Principal & Interest
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Property Tax
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Connecticut Metro Area Home Prices
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Yearly Amortization Schedule+
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Connecticut's Tax Landscape and Your Mortgage
Connecticut uses a progressive income tax with a top rate of 6.99%. A household earning $150,000 pays an estimated $6,815-$8,912 in state income tax, depending on filing status and deductions. That's $655/month less available for housing costs.
At the state's median home price of $395,000, the $1.96% property tax rate adds $645/month to your mortgage payment. That's $7,742/year — well above the national median of ~1.1%.
Property Taxes Across Connecticut
The 1.96% statewide average masks significant variation. Among the highest property tax rates in the nation
Price ranges across the state: Stamford/Greenwich has a median of $720,000, while Hartford sits at $285,000 — a $435,000 gap that dramatically changes your monthly payment. At $1.96% property tax, that price difference alone means $711/month more in property tax in Stamford/Greenwich.
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Homebuyer Programs and Exemptions
Connecticut offers several programs for homebuyers:
CHFA Homebuyer Mortgage with below-market rates
Down payment assistance up to $20,000 for qualified buyers
Homestead exemption: No general homestead exemption; municipalities offer elderly/disabled tax relief programs
Connecticut-Specific Considerations
Among the highest property tax rates in the nation
Property taxes vary dramatically by town — Greenwich vs Hartford can differ by 20+ mills
High earner surtax on capital gains income
Proximity to NYC drives prices in Fairfield County (Stamford, Greenwich)
Compare Connecticut Mortgage Rates
See personalized rates from Connecticut lenders. LendingTree matches you with up to 5 offers so you can compare and save.
0.39% property tax, 5% top rate. Median home: $232,500.
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0.62% property tax, 2.5% top rate. Median home: $395,000.
Frequently Asked Questions
What is the average property tax rate in Connecticut?
The average effective property tax rate in Connecticut is 1.96%. On a $395,000 home (the state median), that works out to approximately $7,742/year or $645/month added to your mortgage payment. Property tax rates vary by county and school district within Connecticut — always check your specific jurisdiction's rate. Homestead exemption: No general homestead exemption; municipalities offer elderly/disabled tax relief programs
How much does homeowners insurance cost in Connecticut?
The average annual homeowners insurance premium in Connecticut is approximately $1,750 ($146/month). This is near the national average of approximately $1,500/year. Actual premiums depend on your home's location, age, construction type, and coverage limits.
What first-time homebuyer programs are available in Connecticut?
CHFA Homebuyer Mortgage with below-market rates. Down payment assistance up to $20,000 for qualified buyers. These programs typically have income limits, purchase price caps, and may require homebuyer education courses. Check the Connecticut housing finance agency website for current eligibility requirements and application deadlines.
How does Connecticut's 6.99% income tax affect home affordability?
Connecticut's top income tax rate of 6.99% reduces your take-home pay, which affects how much mortgage you can comfortably carry. On a $150,000 salary, state income tax takes roughly $6,815-$8,912/year (effective rate is lower than the top marginal rate). Combined with 1.96% property tax, the total tax burden in Connecticut is above average. Use our paycheck calculator to see your exact take-home pay.
What is the conforming loan limit in Connecticut?
The 2026 conforming loan limit in Connecticut is $806,500. Loans above this amount are considered jumbo loans and typically carry higher interest rates (0.25-0.5% premium), require larger down payments (10-20%), and have stricter qualification requirements including higher credit scores (700+) and lower debt-to-income ratios.
This calculator is for educational purposes. Tax rates and insurance costs are based on Connecticut state averages and may not reflect your specific county, school district, or municipality. Consult a financial professional for advice specific to your situation.