Mortgage Calculator & Closing Costs: New Britain, CT
Mortgage payment estimates, closing cost breakdowns, and homebuying data for New Britain, Connecticut.
Median Home Price
$235K
Population
74K
Avg Monthly Rent
$1,250
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 New Britain.
New Britain vs Connecticut Median
The median home price in New Britain is $235,000, which is 42% below the Connecticut state median of $405,000.
Mortgage Calculator — New Britain, CT
Pre-filled with New Britain median home price and Connecticut tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $235K home using Connecticut's 2.15% tax rate and $2,100/yr insurance.
5% Down
$2,137/mo
Down: $11,750
Loan: $223K
P&I: $1,411
Tax: $421
Insurance: $175
PMI: $130
10% Down
$2,056/mo
Down: $23,500
Loan: $212K
P&I: $1,337
Tax: $421
Insurance: $175
PMI: $123
20% Down (No PMI)
$1,784/mo
Down: $47,000
Loan: $188K
P&I: $1,188
Tax: $421
Insurance: $175
Income needed (28% rule): $76K/year with 20% down, $88K/year with 10% down.
Rent vs Buy in New Britain
Rent
$1,250/mo
vs
Buy (10% down)
$2,056/mo
Price-to-rent ratio: 15.7 — A ratio between 15-20 means the rent vs buy decision in New Britain 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 New Britain is $235,000, 42% below the Connecticut state median of $405,000. With a population of 74,135, New Britain 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 $235,000 home in New Britain would carry roughly $421/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 New Britain is $1,250/month. The price-to-rent ratio in New Britain is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
New Britain offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Connecticut's CHFA Homebuyer Mortgage program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in New Britain.