The 04730 zip code in Houlton, Maine tops our ranking of the most affordable places to live in New England.
We looked at 485 zip codes in the region, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in New England
New England includes Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Houlton, ME 🥇 | 66.9 | $139,571 | $1,819 |
| 2 | Hartford, CT🥈 | 66.6 | $104,586 | $1,353 |
| 3 | Colchester, CT 🥉 | 55.3 | $401,095 | $1,711 |
| 4 | Newington, CT | 55.2 | $341,700 | $1,867 |
| 5 | Bristol, CT | 54.5 | $313,888 | $1,618 |
| 6 | Wethersfield, CT | 53.1 | $379,006 | $1,909 |
| 7 | Manchester, CT | 52.5 | $296,453 | $1,955 |
| 8 | Naugatuck, CT | 52.5 | $327,673 | $1,811 |
| 9 | Windsor Locks, CT | 52.5 | $293,025 | $2,201 |
| 10 | Torrington, CT | 51.8 | $269,698 | $1,481 |
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1. Houlton, Maine
Here's why the 04730 zip code in Houlton is the region's most affordable place to live.
🔎 Key data about Houlton
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 66.9 | No. 1 | N/A |
| Median home value | $139,571[1] | No. 1 | -$349,263.36 |
| Home affordability ratio | 2.7 | No. 1 | -2.8 |
| Home value five-year change | 61.3%[2] | No. 3 | 4.5% |
| Home value one-year forecast | 3.1%[3] | No. 18 | 1.1% |
| Rental costs | $1,819[4] | No. 8 | -$352 |
| Rent affordability ratio | 2.44% | No. 5 | 0.0% |
| Median household income | $51,017[5] | No. 26 | -$36,684 |
| Property taxes | $1,663[6] | No. 1 | -$4,034 |
| Energy costs | $0.17 kWh[7] | No. 3 | -$0.02 |
Houlton's 04730 zip code is the cheapest place to live in New England, leading the 485 markets we evaluated.
The median home value is $139,571, making it the 1st-cheapest housing market in the region. Forecasts project a 3.1% change in home values in the next year. Rent in the zip code averages $1,819 per month, which is the 5th-cheapest amount in New England.
The median property tax for homeowners in Houlton is $1,663 per household, the No. 1 ranked market in New England.
Residents pay $0.17 per kWh of electricity, which ranks No. 3 among the region's markets.
2. Hartford, Connecticut
The 06105 zip code is the 2nd-cheapest place to live in New England.
🔎 Key data about Hartford
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 66.6 | No. 2 | N/A |
| Median home value | $104,586[8] | No. 1 | -$384,248.84 |
| Home affordability ratio | 2.8 | No. 1 | -2.8 |
| Home value five-year change | 20.2%[9] | No. 1 | -36.6% |
| Home value one-year forecast | 2.3%[10] | No. 36 | 0.3% |
| Rental costs | $1,353[11] | No. 2 | -$818 |
| Rent affordability ratio | 3.59% | No. 112 | 1.1% |
| Median household income | $37,725[12] | No. 122 | -$49,976 |
| Property taxes | $7,928[13] | No. 92 | $2,231 |
| Energy costs | $0.20 kWh[14] | No. 39 | $0.01 |
Hartford's 06105 zip code has a median home value of $104,586, which is the 36th-cheapest housing market in New England. You can rent for an average of $1,353 per month. That's the 2nd-cheapest price in the region.
The average household income in the zip code is $37,725, which ranks 122nd-highest in New England.
Homeowners in Hartford pay a median property tax of $7,928 per year, making it the 92nd-most affordable market in the region.
Hartford ranks No. 39 among the region's energy markets. You'll pay $0.20 per kWh of electricity.
3. Colchester, Connecticut
The 3rd-cheapest place to live in New England is Colchester's 06415 zip code.
🔎 Key data about Colchester
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 55.3 | No. 3 | N/A |
| Median home value | $401,095[15] | No. 67 | -$87,739.55 |
| Home affordability ratio | 3.5 | No. 19 | -2.1 |
| Home value five-year change | 57.1%[16] | No. 35 | 0.4% |
| Home value one-year forecast | 3.1%[17] | No. 111 | 1.1% |
| Rental costs | $1,711[18] | No. 16 | -$459 |
| Rent affordability ratio | 1.48% | No. 1 | -1.0% |
| Median household income | $115,339[19] | No. 39 | $27,638 |
| Property taxes | $6,154[20] | No. 49 | $457 |
| Energy costs | $0.20 kWh[21] | No. 39 | $0.01 |
The No. 67 cheapest housing market in New England is Colchester's 06415 zip code, with a median home value of $401,095. Rents in the market average $1,711 per month, making it the 16th-most affordable rental market in the region.
The median property tax for households in Colchester is $6,154, which makes it the 49th-cheapest place in New England. Colchester ranks No. 39 among the region's markets by energy costs. Residents pay $0.20 per kWh of electricity.
4. Newington, Connecticut
The 06111 zip code in Newington comes in at No. 4 on our list of the cheapest places to live in New England.
🔎 Key data about Newington
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 55.2 | No. 4 | N/A |
| Median home value | $341,700[22] | No. 47 | -$147,134.59 |
| Home affordability ratio | 3.4 | No. 14 | -2.2 |
| Home value five-year change | 55.6%[23] | No. 28 | -1.1% |
| Home value one-year forecast | 2.7%[24] | No. 78 | 0.7% |
| Rental costs | $1,867[25] | No. 24 | -$304 |
| Rent affordability ratio | 1.86% | No. 11 | -0.6% |
| Median household income | $100,239[26] | No. 58 | $12,538 |
| Property taxes | $6,259[27] | No. 55 | $562 |
| Energy costs | $0.20 kWh[28] | No. 39 | $0.01 |
The No. 4 cheapest housing market in New England is Newington's 06111 zip code, where the median home value is $341,700. Renters here pay an average of $1,867 per month.
When it comes to energy costs, Newington ranks 39th among the region's markets. Residents pay $0.20 per kWh of electricity.
The median property tax for households in the zip code is $6,259, which makes it the 55th-cheapest market in New England.
5. Bristol, Connecticut
The 06010 zip code in Bristol ranks No. 5 among the region's most affordable places to live.
🔎 Key data about Bristol
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 54.5 | No. 5 | N/A |
| Median home value | $313,888[29] | No. 33 | -$174,946.31 |
| Home affordability ratio | 3.8 | No. 34 | -1.7 |
| Home value five-year change | 67.4%[30] | No. 94 | 10.7% |
| Home value one-year forecast | 2.7%[31] | No. 78 | 0.7% |
| Rental costs | $1,618[32] | No. 9 | -$553 |
| Rent affordability ratio | 1.97% | No. 16 | -0.5% |
| Median household income | $82,159[33] | No. 76 | -$5,542 |
| Property taxes | $5,383[34] | No. 33 | -$314 |
| Energy costs | $0.20 kWh[35] | No. 39 | $0.01 |
Bristol's 06010 zip code has a median home value of $313,888, the 33rd-cheapest market in the region. Forecasts project a 2.7% change in home values in the next year.
The median property tax per household in Bristol is $5,383. It's the 33rd-cheapest market by tax rate in New England.
6. Wethersfield, Connecticut
The No. 6 most affordable place to live in New England is the 6109 zip code in Wethersfield.
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🔎 Key data about Wethersfield
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 53.1 | No. 6 | N/A |
| Median home value | $379,006[36] | No. 62 | -$109,828.55 |
| Home affordability ratio | 3.48812893 | No. 20 | -2.1 |
| Home value five-year change | 0.5418835543[37] | No. 16 | -2.5% |
| Home value one-year forecast | 2.6%[38] | No. 53 | 0.6% |
| Rental costs | $1,909[39] | No. 28 | -$262 |
| Rent affordability ratio | 1.76% | No. 5 | -0.7% |
| Median household income | 108656[40] | No. 45 | $20,955 |
| Property taxes | $7,324[41] | No. 86 | $1,627 |
| Energy costs | 0.197636775 kWh[42] | No. 39 | $0.01 |
The back half of our top 10 kicks off with Wethersfield's 6109 zip code, which has the 62nd-cheapest home values in New England. The median home value is $379,006. Rents average $1,909 per month, making it the 28th-most affordable rental market in the region.
Residents pay 0.197636775 per kWh of electricity. It's the 39th-cheapest energy market.
7. Manchester, Connecticut
Manchester's 6042 zip code is the 7th-cheapest place to live in New England.
🔎 Key data about Manchester
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 52.5 | No. 7 | N/A |
| Median home value | $296,453[43] | No. 25 | -$192,382.03 |
| Home affordability ratio | 3.376146316 | No. 11 | -2.2 |
| Home value five-year change | 0.6664463539[44] | No. 90 | 9.9% |
| Home value one-year forecast | 2.8%[45] | No. 92 | 0.8% |
| Rental costs | $1,955[46] | No. 32 | -$216 |
| Rent affordability ratio | 2.23% | No. 25 | -0.3% |
| Median household income | 87808[47] | No. 71 | $107 |
| Property taxes | $4,874[48] | No. 14 | -$823 |
| Energy costs | 0.197636775 kWh[49] | No. 39 | $0.01 |
You'll find the 25th-cheapest home values in New England in Manchester's 6042 zip code. The median value: $296,453. Renters in Manchester pay an average of $1,955 per month.
Homeowners in Manchester pay a median property tax of $4,874 per year, which is the region's 14th-most affordable market.
The average household income is 87808, which ranks 71st-highest in New England.
8. Naugatuck, Connecticut
The 8th-cheapest place to live in New England is Naugatuck's 6770 zip code.
🔎 Key data about Naugatuck
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 52.5 | No. 8 | N/A |
| Median home value | $327,673[50] | No. 38 | -$161,161.76 |
| Home affordability ratio | 3.596296189 | No. 24 | -2.0 |
| Home value five-year change | 0.7088351762[51] | No. 102 | 14.2% |
| Home value one-year forecast | 2.6%[52] | No. 53 | 0.6% |
| Rental costs | $1,811[53] | No. 22 | -$360 |
| Rent affordability ratio | 1.99% | No. 17 | -0.5% |
| Median household income | 91114[54] | No. 68 | $3,413 |
| Property taxes | $6,219[55] | No. 53 | $522 |
| Energy costs | 0.197636775 kWh[56] | No. 39 | $0.01 |
The 38th-cheapest housing market in New England is Naugatuck's 6770 zip code, with a median home value of $327,673. Renters pay an average of $1,811 per month, the No. 22 rental market in the region.
The median property tax for households in Naugatuck is $6,219, which makes it the 53rd-cheapest place in New England. The average household income of 91114 ranks 68th.
9. Windsor Locks, Connecticut
Windsor Locks's 6096 zip code sneaks into the top ten of the region's most affordable places to live.
🔎 Key data about Windsor Locks
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 52.5 | No. 9 | N/A |
| Median home value | $293,025[57] | No. 21 | -$195,809.54 |
| Home affordability ratio | 3.424391127 | No. 17 | -2.1 |
| Home value five-year change | 0.5781987309[58] | No. 42 | 1.1% |
| Home value one-year forecast | 2.7%[59] | No. 78 | 0.7% |
| Rental costs | $2,201[60] | No. 41 | $30 |
| Rent affordability ratio | 2.25% | No. 28 | -0.2% |
| Median household income | 85570[61] | No. 73 | -$2,131 |
| Property taxes | $3,664[62] | No. 2 | -$2,033 |
| Energy costs | 0.197636775 kWh[63] | No. 39 | $0.01 |
The 21st-cheapest housing market in New England is Windsor Locks's 6096 zip code, where the median home value is $293,025. Renters pay an average of $2,201 per month. It's the region's 41st-cheapest rental market.
The median property tax for households within the zip code is $3,664, which makes it the 2nd-cheapest property tax rate in New England.
10. Torrington, Connecticut
The final spot on our list of the most affordable places to live in New England goes to the 6790 zip code in Torrington.
🔎 Key data about Torrington
| Data point | Value | Rank (out of 485 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 51.8 | No. 10 | N/A |
| Median home value | $269,698[64] | No. 15 | -$219,136.43 |
| Home affordability ratio | 4.039697123 | No. 52 | -1.5 |
| Home value five-year change | 0.9291358852[65] | No. 118 | 36.2% |
| Home value one-year forecast | 4.6%[66] | No. 122 | 2.6% |
| Rental costs | $1,481[67] | No. 4 | -$690 |
| Rent affordability ratio | 2.22% | No. 24 | -0.3% |
| Median household income | 66762[68] | No. 96 | -$20,939 |
| Property taxes | $5,147[69] | No. 25 | -$550 |
| Energy costs | 0.197636775 kWh[70] | No. 39 | $0.01 |
The 15th-most affordable housing market in New England is Torrington's 6790 zip code. The median home value is $269,698. Rent in the market costs $1,481 per month on average, making it the 4th-most affordable rental market in New England.
The median property tax for households in Torrington is $5,147, which is the 25th-cheapest property tax rate in the region.
Torrington ranks No. 39 among New England markets by energy costs, with households paying 0.197636775 per kWh of electricity.
How we ranked the most affordable places in New England
We evaluated 485 zip codes in New England with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a region by zip code.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in New England, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the regional average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the regional average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
