Rent vs buy in West Haven, CT

In West Haven, Connecticut, typical rent is $1,919 /mo and a typical home costs $362,817.

Rent

Over 7 years, renting comes out ahead by $63k

Based on West Haven's typical home value and rent, plus a 20% down payment and today's mortgage rate. There is no break-even point within 30 years.

This is an opinion, clearly labelled, with the math shown. These are estimates, not quotes. Change any number, and the stamp changes with it.

Renting leads by: $63k
Break-even point: 30+ years
Full cost of ownership: $3,633 /mo

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In West Haven, is renting or buying cheaper?

Over 7 years, renting saves $62,983 after counting the money you receive when you sell. Renting's net cost remains below owning's throughout the years shown. Within 30 years, owning never catches up.

Rent option Ownership choice Yearly net cost to date

Average rent compared with mortgage payments in West Haven

At West Haven's typical price, monthly costs during year 1 go beyond rent and the mortgage. Here is the full list.

Each month, year 1	Amount	What it is
Rent	$1,919	All of it, every month
Mortgage payment	$1,978	$1,744 of it is interest in year 1
Property tax	$720	2.38% of the value a year
Insurance	$127	Census median for the city
Upkeep	$302	1% of the value a year
Owning, cash out	$3,127	$235 of it builds equity
Lost return on the down payment	$590	What cash would earn yearly at 8.3%
Buying costs, spread out	$151	3.5% of the price over 7 years
True cost of owning	$3,633	Subtract the equity portion from cash out, then add the two lines above.

West Haven verdict by the numbers

Typical home value: Zillow ZHVI, September 2026: $362,817
Typical rent: Zillow ZORI, September 2026: $1,919 /mo
A 20% down payment avoids private mortgage insurance, but the engine doesn't model it.: 20%
Mortgage rate: Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Growth in home prices: FHFA house price index for Connecticut, 1995 to 2025: Annual rate: 3.9%
Rent growth: CPI for primary residence rent, yearly growth 2006 to 2026: Annual rate: 3.5%
Return on savings: 60% S&P 500 with dividends plus 40% 10-year Treasuries, rebalanced each year, 1928 to 2025: Annual return: 8.3%
Property tax: Census ACS 2020-2024, West Haven: 2.38% of the property value
Home insurance: Census ACS 2020-2024, West Haven: Each month: $127
Maintenance: Fannie Mae, low end of 1% to 4%: Each year: 1% of value
Buying costs: Freddie Mac, middle of 2% to 5%: That's 3.5% of the price.
Selling costs: Agent commission and closing costs: 6% of the price

What would make West Haven's result reverse?

The 7-year verdict for West Haven changes at each line, and all other figures remain as they are.

When renting wins

Home prices rise by less than 6.1% a year (we apply 3.9%, Connecticut's rate over the long run).
The mortgage rate remains higher than 4.13%.
Renting a home like this costs less than $2,590 each month. Here, the typical rent is $1,919.
If you move at any time within the next 30 years, owning still won't catch up at these figures.

When buying wins

Home prices increase by more than 6.1% a year.
You lock in a mortgage rate under 4.13% (today's rate is 7.24%).
For the same home, monthly rent would cost you more than $2,590.

West Haven compared with the other 812 cities

Measure	West Haven	Median city
Typical home value	$362,817	$422,451
Typical rent	$1,919 /mo	$1,837 /mo
Price-to-rent ratio	15.8 (#578 of 813)	18.5
Home prices, last 10 years	8% a year	6.2% a year
Rents, last 5 years	6.9% a year	4% a year
Property tax	2.38%	0.87%
Households that rent	49%	42%

Sources: Zillow ZHVI, ZORI, Census ACS 2020-2024.

Cities in Connecticut besides West Haven

Rent. Norwalk, CT. Renting saves $130k.

Connecticut's rent vs buy figures