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These days, finding an affordable place to live in the Colchester area can be challenging. Home prices in Colchester are now at a median cost of $365,812, lower than the Connecticut average of $418,901.
The average cost of rent is $1,591/mo in Colchester, primarily driven by the current value of real estate in the Colchester area. In Colchester, 24.06% of households rent, and 29.87% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Colchester is $10,701 per month. Households that rent pay about 14.87% of their income on rent here. Colchester’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Westchester, CT: higher priced homes
- Amston, CT: equally priced homes
- Millington, CT: higher priced homes
- Salem, CT: higher priced homes
- Lebanon, CT: equally priced homes
- Moodus, CT: less expensive homes
- Gilman, CT: equally priced homes
- East Haddam, CT: equally priced homes
- Liberty Hill, CT: less expensive homes
- Bozrah, CT: less expensive homes
Cities with Similar Populations
- Shelby, OH: less expensive homes
- Fort Morgan, CO: less expensive homes
- Solana Beach, CA: higher priced homes
- Snyder, TX: less expensive homes
- Lumberton, NJ: higher priced homes
- Smithville, MO: equally priced homes
- Luling, LA: less expensive homes
- Slippery Rock, PA: less expensive homes
- Skiatook, OK: less expensive homes
- Silsbee, TX: less expensive homes
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