Rent vs buy in Hartford, CT
In Hartford, Connecticut, the typical rent is $1,555 /mo and the typical home price is $202,489.
Buying comes out $12k ahead over 7 years
Today's mortgage rate is used, along with Hartford's figures for typical rent and home value and 20% down. Break-even occurs in year 5.
Clearly labeled opinion, with the math shown. These are estimates, not quotes. Adjust a number and the stamp changes.
- Owning leads by
- $12k after 7 years
- Break-even point
- 5th year when owning catches up
- Owning's true cost
- Each month: $2,014 year 1, against $1,555 rent
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Hartford's typical rent and home value are what the stamp uses. Your rent, price and years can change the result.
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Is it cheaper to rent or buy in Hartford?
After counting the money you get back when you sell, buying costs $11,805 less over 7 years. In year 5, owning's net cost falls below renting's and remains lower.
Renting. Owning. Net cost to date for each year.
Hartford's average rent compared with its mortgage payment
Rent and mortgage payments don't tell the whole story. At Hartford's typical price, these are all monthly costs in year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,555 | All of it, every month |
| Mortgage payment | $1,104 | $973 of it is interest in year 1 |
| Property tax | $339 | 2.01% of the value a year |
| Insurance | $120 | Census median for the city |
| Upkeep | $169 | 1% of the value a year |
| Owning, cash out | $1,732 | $131 of it builds equity |
| Lost return on the down payment | $329 | What the cash would earn yearly at 8.3% |
| Buying costs, spread out | $84 | 3.5% of the price over 7 years |
| True cost of owning | $2,014 | Cash out minus the equity amount, plus the two lines above |
The Hartford verdict's numbers
- Typical home valueZillow ZHVI, September 2026
- $202,489
- Typical rentZillow ZORI, September 2026
- $1,555 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Connecticut, 1995 to 2025
- 3.9% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Hartford
- 2.01% of value
- Home insuranceCensus ACS 2020-2024, Hartford
- $120 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would change the Hartford result?
Each line shows where Hartford's 7-year result changes, while all other factors stay the same.
Renting wins if
- Annual home price growth stays below 3.1%; our calculation uses 3.9%, the long-run rate for Connecticut's market.
- The mortgage rate remains higher than 8.27%.
- Monthly rent for a similar home comes to under $1,430 (typical here: $1,555).
- Your move happens before year 5.
When buying wins
- Annual home price growth exceeds 3.1%.
- You lock a mortgage rate under 8.27%; today's rate is 7.24%.
- The same home would cost over $1,430 a month to rent.
- You remain in the home for 5 years or longer.
Hartford compared with the other 812 cities
| Measure | Hartford | Median city |
|---|---|---|
| Typical home value | $202,489 | $422,451 |
| Typical rent | $1,555 /mo | $1,837 /mo |
| Price-to-rent ratio | 10.9 (#783 of 813) | 18.5 |
| Home prices, last 10 years | 6.4% a year | 6.2% a year |
| Rents, last 5 years | 6.7% a year | 4% a year |
| Property tax | 2.01% | 0.87% |
| Households that rent | 74% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
More cities in Connecticut
- Rent. In Bridgeport, CT, renting wins by $51k.
- Rent. In Stamford, CT, renting wins by $142k.
- Rent. Renting wins by $39k in New Haven, CT.
- Rent. Renting wins by $51k in Waterbury, CT.
- Rent. In Norwalk, CT, renting wins by $130k.
- Rent. In Danbury, CT, renting wins by $44k.
- Rent. Renting wins by $56k in New Britain, CT.
- Rent. Renting wins by $64k in Bristol, CT.
- Rent. In Meriden, CT, renting wins by $35k.
- Rent. Renting wins by $63k in West Haven, CT.
- Rent. Renting wins by $70k in Milford, CT.