Mortgage payment estimates, closing cost breakdowns, and homebuying data for Waterbury, Connecticut.
Median Home Price
$225K
Population
114K
Avg Monthly Rent
$1,220
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 Waterbury.
Waterbury vs Connecticut Median
The median home price in Waterbury is $225,000, which is 44% below the Connecticut state median of $405,000.
Mortgage Calculator — Waterbury, CT
Pre-filled with Waterbury median home price and Connecticut tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using Connecticut's 2.15% tax rate and $2,100/yr insurance.
5% Down
$2,054/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $403
Insurance: $175
PMI: $125
10% Down
$1,976/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $403
Insurance: $175
PMI: $118
20% Down (No PMI)
$1,716/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $403
Insurance: $175
Income needed (28% rule): $74K/year with 20% down, $85K/year with 10% down.
Rent vs Buy in Waterbury
Rent
$1,220/mo
vs
Buy (10% down)
$1,976/mo
Price-to-rent ratio: 15.4 — A ratio between 15-20 means the rent vs buy decision in Waterbury 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 Waterbury is $225,000, 44% below the Connecticut state median of $405,000. With a population of 114,403, Waterbury 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 $225,000 home in Waterbury would carry roughly $403/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 Waterbury is $1,220/month. The price-to-rent ratio in Waterbury is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Waterbury 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 Waterbury.