How much do homeowners pay a month in Old Lyme, CT?
Homeowners with a mortgage in Old Lyme, CT pay a median of $2,742 (±$287) a month in selected owner costs (2020–2024 American Community Survey).
Owners without a mortgage pay $1,013 (±$139).
59.0% of owned homes carry a mortgage.
In Old Lyme, the median monthly cost with a mortgage went from $2,456 in 2015–2019 to $2,742 in 2020–2024 (+11.6%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Figures last updated on .
- With a mortgage
- $2,742 (±$287)
- Without a mortgage
- $1,013 (±$139)
- Owned with a mortgage
- 59.0%
Monthly owner costs in Old Lyme
| Old Lyme | Lower Connecticut River Valley Planning Region | Connecticut | United States | |
|---|---|---|---|---|
| With a mortgage | $2,742 (±$287) | $2,411 (±$43) | $2,429 (±$11) | $1,963 |
| Without a mortgage | $1,013 (±$139) | $1,020 (±$30) | $1,071 (±$7) | $638 |
| Owned homes with a mortgage | 59.0% (±5.6 points) | 61.7% (±1.7 points) | 64.6% (±0.4 points) | 60.6% |
| Median real estate taxes (a year) | $6,284 (±$205) | $6,357 (±$104) | $6,643 (±$25) | $3,119 |
Selected monthly owner costs are the mortgage payment, property taxes, insurance, utilities, fuels and any condominium or mobile-home fees.
In Old Lyme, the median cost with a mortgage is higher than in Lower Connecticut River Valley Planning Region ($2,411).
It is also higher than in Connecticut ($2,429).
It is higher than the national figure ($1,963).
In Lower Connecticut River Valley Planning Region, Old Lyme ranks 4 of 17 places with a published estimate, from highest to lowest median monthly cost with a mortgage.
Statewide, it ranks 39 of 169.
Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.
How owner costs in Old Lyme have changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Median owner cost with a mortgage | $2,456 (±$188) | $2,742 (±$287) | +11.6% | No measurable change after inflation |
| Median real estate taxes | $5,791 (±$291) | $6,284 (±$205) | +8.5% | Down after inflation |
| Median home value | $387,200 (±$16,086) | $484,200 (±$21,146) | +25.1% | No measurable change after inflation |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Median monthly cost with a mortgage in places near Old Lyme
| Place | Distance | Median monthly cost with a mortgage | Compared with this place |
|---|---|---|---|
| Old Lyme | — | $2,742 (±$287) | — |
| Old Saybrook Center | 3.2 mi | $2,386 (±$1,000) | Not measurably different |
| Old Saybrook | 4.2 mi | $2,619 (±$191) | Not measurably different |
| East Lyme | 5.0 mi | $2,448 (±$123) | Not measurably different |
| Essex Village | 5.5 mi | $3,200 (±$572) | Not measurably different |
| Niantic | 5.5 mi | $2,110 (±$371) | Lower |
| Saybrook Manor | 5.6 mi | $2,495 (±$317) | Not measurably different |
| Lyme | 6.1 mi | $3,062 (±$326) | Not measurably different |
| Essex | 6.2 mi | $2,544 (±$186) | Not measurably different |
Nearby places with a measurably lower figure: Niantic, CT ($2,110).
Distance is measured in a straight line between the Census Bureau’s internal points for each place.
Median monthly cost with a mortgage across Lower Connecticut River Valley Planning Region, place by place
| Rank | Place | Median monthly cost with a mortgage |
|---|---|---|
| 1 | Lyme | $3,062 (±$326) |
| 2 | Killingworth | $2,910 (±$386) |
| 3 | Durham | $2,790 (±$162) |
| 4 | Old Lyme | $2,742 (±$287) |
| 5 | Chester | $2,672 (±$322) |
| 6 | Old Saybrook | $2,619 (±$191) |
| 7 | Essex | $2,544 (±$186) |
| 8 | Portland | $2,477 (±$185) |
| 9 | Westbrook | $2,473 (±$257) |
| 10 | Clinton | $2,402 (±$114) |
Showing 10 of 17 places in Lower Connecticut River Valley Planning Region, ranked from highest to lowest.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Old Lyme
What is the average mortgage payment in Old Lyme?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Old Lyme, CT is $2,742 (±$287) a month, including taxes, insurance and utilities.
How much does it cost to own a paid-off home in Old Lyme?
Owners without a mortgage in Old Lyme pay a median of $1,013 (±$139) a month in taxes, insurance, utilities and fees.
Has the cost of owning a home in Old Lyme gone up?
In Old Lyme, the median monthly cost with a mortgage went from $2,456 in 2015–2019 to $2,742 in 2020–2024 (+11.6%).
Prices (CPI-U) rose 22.7% over the same years; the change is not measurably different from the rise in prices.
Sources
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Old Lyme town, Lower Connecticut River Valley Planning Region, Connecticut
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Old Lyme town, Lower Connecticut River Valley Planning Region, Connecticut
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) and detailed tables (acs/acs5) for Old Lyme town, Lower Connecticut River Valley Planning Region, Connecticut (county subdivision:57040, in state:09 county:130).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B25088_002E, B25088_002M, B25103_001E, B25103_001M, B25077_001E, B25077_001M from the 2019 release.
The API needs a free key.
DP04_0101E, DP04_0101M, DP04_0109E, DP04_0109M, DP04_0091PE, DP04_0091PM, B25103_001E, B25103_001M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .
Related
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- Population growth in Old Lyme
- How long people stay in Old Lyme
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- Fair Market Rent in Old Lyme
- Connecticut landlord and tenant rules
- Housing across Lower Connecticut River Valley Planning Region
- Housing data for every place in Connecticut