Mortgage payment estimates, closing cost breakdowns, and homebuying data for Groton, Connecticut.
Median Home Price
$295K
Population
38K
Avg Monthly Rent
$1,380
Property Tax Rate
2.15% *
* Property tax shown is the Connecticut state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Groton.
Groton vs Connecticut Median
The median home price in Groton is $295,000, which is 27% below the Connecticut state median of $405,000.
Mortgage Calculator — Groton, CT
Pre-filled with Groton median home price and Connecticut tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $295K home using Connecticut's 2.15% tax rate and $2,100/yr insurance.
5% Down
$2,638/mo
Down: $14,750
Loan: $280K
P&I: $1,771
Tax: $529
Insurance: $175
PMI: $163
10% Down
$2,537/mo
Down: $29,500
Loan: $266K
P&I: $1,678
Tax: $529
Insurance: $175
PMI: $155
20% Down (No PMI)
$2,195/mo
Down: $59,000
Loan: $236K
P&I: $1,492
Tax: $529
Insurance: $175
Income needed (28% rule): $94K/year with 20% down, $109K/year with 10% down.
Rent vs Buy in Groton
Rent
$1,380/mo
vs
Buy (10% down)
$2,537/mo
Price-to-rent ratio: 17.8 — A ratio between 15-20 means the rent vs buy decision in Groton depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Groton is $295,000, 27% below the Connecticut state median of $405,000. With a population of 38,411, Groton is a smaller market where home prices tend to be more accessible than in many parts of Connecticut.
Property taxes in Connecticut average 2.15% annually. This higher-than-average tax rate means a $295,000 home in Groton would carry roughly $529/month in property taxes alone — plan accordingly. Homeowners insurance in Connecticut runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Groton is $1,380/month. The price-to-rent ratio in Groton is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Groton presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Groton.