Finding the most affordable places to live in Connecticut is challenging even if you're a native. State-wide, Connecticut has a median home value of $329,900. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home. Because of that, we scoured the data to find the most affordable cities in Connecticut, looking at median home prices, cost of living, and other factors to find your best options.
Looking for the most affordable places in Connecticut is a start, but you'll save even more money by working with a great agent. The top Connecticut real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.
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Ready to learn more about the most affordable places in Connecticut? These are our top picks.
1. Torrington
Tucked into the Northwest corner of Connecticut, Torrington has the most affordable home price to income ratio on this list. The micropolitan is home to about 36,000 people within city limits and has been rated as one of the best places in the country to retire.
The median home value is about $160,000, which is $60K below the national average, while the median household income is $61,000, which is about $2K higher than the national average. These dynamics alone make living here more affordable than many other areas in New England.
2. Naugatuck
Settled on the Naugatuck River, this small town is second only to Torrington in terms of home value to income. The median home value is just under $180,000, while the median household income is a healthy $63,000.
The city has been rated as a desirable place to raise a family, thanks to good schools, low crime rates, and a stable economy. The town is just a half hour’s drive from New Haven and all the coastal amenities that come with it, less than an hour from Hartford, and just two hours from New York City.
Finding a home to buy here is easier with a local agent! With Clever, you'll find a great Connecticut realtor who can help with your home search.
3. Bristol
Whether you’re renting or buying, Bristol makes living in Connecticut affordable. The median home value is $191,000, which has remained relatively flat over the past year. The cost of living is lower here than Connecticut as a whole, which takes into account housing costs, healthcare, and goods and services.
It’s earned a reputation among families and retirees alike, thanks to a quiet suburban setting that’s not far from larger cities like Hartford or New Haven. The crime rates are fairly low and the schools are above average. The area is also a hot spot for young professionals attracted to the area’s strong economy.
4. Meriden
Tucked between Middletown and Waterbury, two other affordable cities in Connecticut, it’s easy to see the appeal that Meriden’s quality of life offers. This city of 60,000 residents has affordable housing and a low overall cost of living. The median home value is $173,000, while the median household income is just under the national average at $57,000.
The town has ranked well for its diversity and opportunities for young professionals. The city has everything from public transit to gyms to coffee shops and libraries, so just about everything you need on a daily basis can be found without having to travel out of town.
» FIND: Top Real Estate Agents in Connecticut
5. Waterbury
If you prefer big city living without the high prices of living in a big city, Waterbury is an attractive option. Home to 110,000 residents, the city offers a lower cost of living and more affordable housing than New Haven or Hartford, especially when comparing home values to income. The median home value is a modest $128,900, while the median income is $41,000.
Being a larger city, there’s plenty to see and do in town. Restaurants, libraries, great schools, shopping, parks, and entertainment are in abundance, all of which are priced well for the area to keep your living costs low.
How to find affordable homes in Connecticut
Whether you want to live in a bustling Connecticut metro area or a tranquil small town, there's plenty to love in Connecticut. Working with a local real estate agent is the best way to find the most affordable places to live in Connecticut.
Ready to start house hunting? Clever is a free service that can match you with the best realtors in Connecticut. And, when you buy with a Clever partner agent, you could get 0.5% of your purchase price back as a check after closing. On a $300,000 home, that's an extra $1,500 back in your pocket. That's real money!