In October 2023, the median home price in Connecticut increased by 11.7% to $336,600. As per the housing market prediction 2024, the median sale price will increase due to the tight inventory.
Near the coastal areas, the home prices are relatively higher in the Constitution State but as you move in the inland areas, you can find cheaper options to live in.
4 Reasons to live in Connecticut ⭐
- Cheaper Houses: The median home sale price in Connecticut is ~$350K but you can get houses between $175K and $250K in cities like Hartford, Waterbury, and Norwich. This can save you thousands while enjoying better earning opportunities in the Constitution State.
- Tax Benefits: The Connecticut Constitution forbids personal income taxes.
- Affordable Healthcare: Healthcare in cities that are listed below is up to 6% lower than the state average. In some cities, the average healthcare is even cheaper than the national average.
- Cheaper Rentals: The rent prices of these cities are lower than the state average and national average. You can save up to $800 per month in rent.
Cheapest Places to Live in Connecticut in 2024
This list provides insights into the average household income, median listing price, population, unemployment rate, and poverty rate of the cities.
| City | Median Household Income | Median Home Value | Population | Unemployment Rate | Poverty Rate |
|---|---|---|---|---|---|
| Hartford | $37,477 | $230,000 | 121,562 | 14.0% | 28.4% |
| Waterbury | $48,787 | $230,523 | 113,783 | 13.0% | 21.7% |
| Norwich | $59,791 | $242,510 | 40,020 | 11.8% | 10.6% |
| Torrington | $63,135 | $284,627 | 35,447 | 10.0% | 13.6% |
| New Britain | $50,379 | $247,379 | 74,022 | 4.5% | 20.5% |
| East Hartford | $58,922 | $257,002 | 50,971 | 10.9% | 13.1% |
| New London | $50,819 | $265,000 | 27,585 | 3.3% | 24.3% |
7 Cheapest Places to Live in CT
The cost of living in Connecticut is 16% higher than the national average. The Constitution State is still the home to some of the nation’s most expensive cities. However, amidst this disparity, the Constitution State has several affordable living options.
1. Hartford
| 🟢 Cost of Living Compared to National Average | 15%⬇️ |
| 🏡 Median Home Price | $230,000 |
| 💲 Median Rent | $1300 |
| 🌅 Known For | Deep-Water Seaport |
Hartford is an affordable place to live in Connecticut. Its median house rent ranges from $700 – $3,333. With an average household income of $37,477, you can comfortably live in this city.
Hartford is home to several reputable educational institutions, including the University of Connecticut School of Law, Trinity College, and the University of Hartford.
It is referred to as the “Insurance Capital of the World. Hence, creating several job opportunities in this industry.
» Homes for Sale in Hartford, CT: Find your dream home in this city.
2. Waterbury
| 🟢 Cost of Living Compared to National Average | 9%⬇️ |
| 🏡 Median Home Price | $230,523 |
| 💲 Median Rent | $1,400 |
| 🏞️ Known For | Museums and Zoo |
Waterbury is one of Connecticut’s most budget-friendly rental destinations with an average home rent of $1,400. A low cost of living and affordable housing has led to a population growth of 0.5% since 2020.
Waterbury is a great place for people looking to buy a home. It has good opportunities for businesses, and living here is not expensive. Moreover, it draws a varied community, including healthcare workers, financial experts, and military personnel, attracted by the employment possibilities.
» Homes for Sale in Waterbury, CT: Browse thousands of property listings in Lamar.
3. Norwich
| 🟢 Cost of Living Compared to National Average | 9%⬇️ |
| 🏡 Median Home Price | $242,510 |
| 💲 Median Rent | $1,025 |
| 🏖️ Known For | Hamilton Building |
With rental costs below the national average, Norwich stands as one of the most affordable cities to live in Connecticut. The house rent price is between $850 – $3,000.
Norwich is a great place for nature lovers. It’s like a peaceful getaway from the busy city life. There are lots of green spaces where people can relax and take in some fresh air.
» Homes for Sale in Norwich, CT: View all the properties for sale in this city.
4. Torrington
| 🟢 Cost of Living Compared to National Average | 9%⬇️ |
| 🏡 Median Home Price | $246,278 |
| 💲 Median Rent | $1,350 |
| 🏖️ Known For | National Ranching Heritage Center |
Torrington offers budget-friendly living with a median rent of $1,400, which is $650 lower than the national median. With monthly utilities costs being 11% lower than the state average, the city stands out as one of the most inexpensive places to live in Connecticut.
You can discover the displays at the Museum of Connecticut Tech University or check out the Buddy Holly Center. You can also take a walk through the Lubbock downtown historic district to find different types of shops, eateries, and entertainment choices.
» Homes for Sale in Torrington, CT: Browse through thousands of affordable properties.
5. New Britain
| 🟢 Cost of Living Compared to National Average | 3%⬇️ |
| 🏡 Median Home Price | $247,379 |
| 💲 Median Rent | $1,274 |
| 🎨 Known For | Visual Arts |
Also known as “The Pearl of West Connecticut,” New Britain’s cost of living is 7% lower than the state average. The average grocery expenses are 3% lower than the state average.
New Britain’s affordable food, health, housing, and transportation facilities make the city one of the cheapest places to live in Connecticut.
» Homes for Sale in New Britain, CT: Browse through thousands of properties in New Britain.
6. East Hartford
| 🟢 Cost of Living Compared to National Average | 6%⬇️ |
| 🏡 Median Home Price | $257,002 |
| 💲 Median Rent | $1,450 |
| 🏫 Known For | Strawberry Festival |
The house rent in East Hartford is between $700–$3,425. With an average household income of $64,244, you can comfortably live in this city.
East Hartford is a compelling real estate choice for outdoor enthusiasts seeking affordable living in Connecticut. This city is known for being affordable. Houses don’t cost a lot, and the everyday expenses are low.
» Homes for Sale in East Hartford, CT: Find a home in one of the cheapest places to live in Connecticut.
7. New London
| 🟢 Cost of Living Compared to National Average | 6.8%⬆️ |
| 🏡 Median Home Price | $265,000 |
| 💲 Median Rent | $1,498 |
| 🖼️ Known For | Fort Hood |
New London is one of the best places to live in Connecticut. The median home price in New London is $265,000. The monthly expenditure on food for an individual amounts to $599, making it one of the most budget-friendly options across the country.
People in New London can check out the cool stuff at the 1st Cavalry Division Museum. You can also go to Stillhouse Hollow Lake for fun outdoor things like boating, fishing, and hiking.
» Homes for Sale in New London, CT: Get yourself a home in New London.
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The Bottom Line
Despite expensive home prices, you can find affordable housing in Connecticut. Apart from housing, some cities also offer affordable living. It would help if you researched the city’s home prices and living costs before relocating.
Find Homes for Sale in CT Under Your Specific Budget
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Research Methodology
We’ve created this list by considering the cost of living, median home price, and rental price range. We have also accounted for the population, median household income, poverty rate, and unemployment rate in these cities.
To compile this list of the cheapest areas to live in Connecticut, we have drawn data from the Economic Research Institute, World Population Review, Rent Cafe, and Zillow.
FAQs
Where is the cheapest place to live in Connecticut?
The cheapest place to live in Connecticut is Hartford. It offers one of the most affordable utilities in the state, which is 4.8% lower than the state average.
» 7 Cheapest Places to Live in Connecticut: Find out the other cheapest places to live in Connecticut!
Is Connecticut the cheapest place to live in?
No, it is not. The median home value is $336,600. If you're looking for cities with affordable housing and a low cost of living, you can try your luck in some of these cheapest places in America.
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