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These days, finding an affordable place to live in the South Lyme area can be challenging. Home prices in South Lyme are now at a median cost of $530,700, higher than the Connecticut average of $418,901.
The average cost of rent is $2,198/mo in South Lyme, primarily driven by the current value of real estate in the South Lyme area. In South Lyme, 1.05% of households rent, and 28.19% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in South Lyme is $11,848 per month. Households that rent pay about 18.55% of their income on rent here. South Lyme’s most expensive areas are in the central 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
- Giants Neck, CT: less expensive homes
- Niantic, CT: less expensive homes
- Laysville, CT: less expensive homes
- Old Lyme, CT: equally priced homes
- Millstone, CT: less expensive homes
- Fenwick, CT: higher priced homes
- East Lyme, CT: less expensive homes
- Waterford, CT: less expensive homes
- Old Saybrook, CT: equally priced homes
- Pleasure Beach, CT: less expensive homes
Cities with Similar Populations
- Port Alsworth, AK: less expensive homes
- Powys, PA: less expensive homes
- Powells Crossroads, AL: less expensive homes
- Powell, WI: less expensive homes
- Potter, NY: less expensive homes
- Portland, CO: less expensive homes
- Porter, KY: less expensive homes
- Portage Entry, MI: less expensive homes
- Port Stanley, WA: higher priced homes
- Port Jenkins, PA: less expensive homes
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