One income no longer cuts it in Connecticut’s housing market

One source of income is no longer sufficient to afford housing in Connecticut, whether renting or buying. Jada Appiah pays $1,400 per month for a one-bedroom apartment in New Britain while attending Central Connecticut State University, and even that stretches her budget. She says sharing costs with a roommate or having two incomes is now essential. The average rent across the state is $2,000, and in places like East Hartford, rent rose 9 percent between February 2025 and 2026. Mortgage rates have spiked in recent weeks due to concerns about the economy and higher inflation. That surge has priced many buyers out of the market entirely. Homes in Hartford County—named Zillow’s 2026 hottest housing market—often sell within a day of listing, with neighborhoods like West Hartford seeing intense competition. Supply remains low, demand remains high, and prices keep climbing. Amarachi Bard, who bought her home in Newington in December 2020, is grateful she locked in a low rate. She and others from that era cannot contemplate re-entering the market under today’s terms. Friends she knows are unable to buy, not only because of interest rates but because few homes are available at price points that match their budgets. Realtors acknowledge the strain but urge qualified buyers to act anyway. Carl Lantz, former president of Connecticut Realtors, says rising home values will build equity over time—and buyers can refinance later if rates drop. But for now, the barrier to entry is higher than ever. One income no longer cuts it in Connecticut’s housing market.