East Hampton, CT Real Estate & Homes For Sale

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East Hampton Real Estate Market Facts

$241,000Median home price
11% lower than Connecticut
$755Median rent asked
31% lower than Connecticut
86.1%Home owners
30% higher than Connecticut
2.5People per home
equal to Connecticut

A general summary of the real estate market in East Hampton, CT is listed above. Properties in East Hampton, CT average a cost of $241,000, which is 11% lower than the median home price for real estate located in Connecticut. This means that the region of East Hampton, CT is, on average, more affordable when compared to the remainder of Connecticut. Since tenants living in East Hampton, CT will pay an average of $755, the median rental cost is 31% lower than in Connecticut. 86.1% of people in East Hampton, CT own their own homes, and an average of 2.5 people inhabit each property. East Hampton, CT has many assorted real estate listings available. These range from urban townhouses to inexpensive condos to luxurious residences. We make finding homes for sale and browsing real estate listings effortless. Simply use the search function above, and obtain filtered results according to price, location, bathrooms and bedrooms.

East Hampton Home Affordability

$241,000Median home price
11% lower than Connecticut
$86,569Median home income
21% higher than Connecticut
2.8xHome price to income ratio
26% lower than Connecticut

When starting your search for real estate in East Hampton, CT, it is crucial to consider home affordability. When calculating home affordability, the ratio of home price to median household income is one of the methods that is applicable in doing so. On average, a home in East Hampton, CT costs $241,000 while each household has an average income of $86,569. Consequently, the ratio of home price to household income is 2.8x; this ratio is 26% lower than the average in Connecticut. Calculating the home affordability ratio involves dividing the average price of a home by the average income of homes in East Hampton, CT. When the ratio of home price to income is relatively low, the implication is that homes are more affordable on the basis of the home price in comparison with the home income. Note that besides home price to median household income ratio, there are various other factors to put into consideration when determining if home affordability exists. Check the home affordability calculator shown below to calculate how much you can afford to pay for real estate in East Hampton, CT.

East Hampton Affordability Calculator

You can afford a home up to:

Debt-to-income ratio

Monthly income breakdown

Monthly income
Monthly payment
Debt payment
Income taxes
Remainder

If you are looking to purchase real estate in East Hampton, CT, it is imperative that it falls within your established budget range. Our home affordability calculation tool lets you figure out the price of your prospective home in East Hampton, CT as the calculation is based on your salary, your debts and the amount of the down payment that you have available. If you want an even more detailed report, you can include more information such as mortgage terms, rates, property taxes, homeowners insurance and HOA dues. By adding in those additional details, you will be able to see a more accurate price of a home that you will be able to afford in East Hampton, CT. This is a very useful tool because it prevents you from falling in love with a property that you will not be able to safely afford. The home affordability calculation tool is also a great way to manage your budget because you will be able to clearly see how much money you will be spending on home ownership, and how much money will be available for other livings costs and hopefully, savings.

East Hampton Mortgage Calculator

Your monthly payment will be:

Monthly payment breakdown

Monthly payment
Mortgage
PMI fees
Property tax
Home insurance
HOA dues

What will be my monthly costs if I purchase East Hampton, CT real estate? There are various factors that determine the monthly cost of a home. Obviously, the major factor is the price of the home itself. However, beyond the price of the home,it is also important to consider the down payment, loan term, interest rate, property taxes, home insurance, HOA dues and PMI (private mortgage insurance). For homeowners who are able to put 20% or more towards a down payment, PMI payments can be completely emlinated, which saves a home owner money. Typical mortgage calculators have preset default values for these details, but they can be altered to give a potential buyer a more accurate depiction of the estimated monthly payment. When it comes to financing, a generally accepted recommendation is to keep the DTI (debt-to-income) ratio to no more than 36 percent, which means no more than 36 percent of your gross monthly income should go to paying all debts.

East Hampton Demographics

2,693Population
1,057People / sq mile
41.4Median age
1.1:1Male/Female ratio

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Willimantic, CT	17,339	$140,400	24%
New Britain, CT	72,876	$157,300	15%
Hartford, CT	124,320	$159,100	14%
East Hartford, CT	50,834	$163,300	12%
Manchester, CT	30,364	$167,700	9%
East Hampton, CT	2,693	$241,000	30%

Cities with similar population

City, State	Population	Home Price	National Avg.
Hampton, SC	2,693	$93,800	49%
Conneaut Lakeshore, PA	2,693	$155,200	16%
Mountain View, MO	2,694	$87,000	53%
Howe, TX	2,692	$100,700	45%
Bath, PA	2,691	$154,800	16%
East Hampton, CT	2,693	$241,000	30%

Source: The East Hampton, CT housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).