Mortgage Calculator & Closing Costs: New Haven, CT
Mortgage payment estimates, closing cost breakdowns, and homebuying data for New Haven, Connecticut.
Median Home Price
$285K
Population
134K
Avg Monthly Rent
$1,480
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 Haven.
New Haven vs Connecticut Median
The median home price in New Haven is $285,000, which is 30% below the Connecticut state median of $405,000.
Mortgage Calculator — New Haven, CT
Pre-filled with New Haven median home price and Connecticut tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $285K home using Connecticut's 2.15% tax rate and $2,100/yr insurance.
5% Down
$2,555/mo
Down: $14,250
Loan: $271K
P&I: $1,711
Tax: $511
Insurance: $175
PMI: $158
10% Down
$2,457/mo
Down: $28,500
Loan: $257K
P&I: $1,621
Tax: $511
Insurance: $175
PMI: $150
20% Down (No PMI)
$2,127/mo
Down: $57,000
Loan: $228K
P&I: $1,441
Tax: $511
Insurance: $175
Income needed (28% rule): $91K/year with 20% down, $105K/year with 10% down.
Rent vs Buy in New Haven
Rent
$1,480/mo
vs
Buy (10% down)
$2,457/mo
Price-to-rent ratio: 16.0 — A ratio between 15-20 means the rent vs buy decision in New Haven 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 Haven is $285,000, 30% below the Connecticut state median of $405,000. With a population of 134,023, New Haven is a mid-size city 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 $285,000 home in New Haven would carry roughly $511/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 Haven is $1,480/month. The price-to-rent ratio in New Haven is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
New Haven presents moderate affordability. The $285K 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 New Haven.