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City · 6,172 residents · Naugatuck Valley Planning Region, Connecticut

Cheshire Village , Connecticut

In Cheshire Village, a typical home is worth $424,100 and typical rent is $1,118 a month. Compared with all of Naugatuck Valley Planning Region, typical household income is 36% higher and the typical home value is 33% higher.

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  • Typical home value

    $424,100

    33% above the planning region

    16% above Connecticut

    • Cheshire Village
    • Naugatuck Valley
    • Connecticut

  • Typical rent

    $1,118a month

    16% below the planning region

    25% below Connecticut

    • Cheshire Village
    • Naugatuck Valley
    • Connecticut

  • Typical household income

    $117,218a year

    36% above the planning region

    22% above Connecticut

    • Cheshire Village
    • Naugatuck Valley
    • Connecticut

  • Households that own their home

    72%

    3 points above the planning region

    5 points above Connecticut

    • Cheshire Village
    • Naugatuck Valley
    • Connecticut

Source: U.S. Census Bureau, Average 2020–2024

Cheshire Village is in Naugatuck Valley Planning Region. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Naugatuck Valley Planning Region. See the county

Data updated: October 1, 2026 9 official sources

Only here

What sets Cheshire Village apart

What this place has that others do not, from public data, most unusual first.

  1. Cheshire Village has the 2nd lowest typical rent of the 63 cities in Connecticut with more than 5,000 people ($1,118).

  2. Nearby, in Waterbury, the typical home value is $208,500: 51% less than in Cheshire Village ($424,100).

  3. The typical household income in Cheshire Village is $117,218, 36% more than in Naugatuck Valley Planning Region as a whole ($86,191).

  4. The typical home in Cheshire Village is worth $424,100, 33% more than in Naugatuck Valley Planning Region as a whole ($317,700).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Cheshire Village

What homes there are in Cheshire Village, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house rules in Cheshire Village: 65% of homes, more than in Naugatuck Valley Planning Region (59%).

Year built

The typical home in Cheshire Village was built in 1962, 7 years before the typical one in Naugatuck Valley Planning Region.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$2,625 a month

Naugatuck Valley Planning Region: $2,229 a month

Without a mortgage

$1,339 a month

Naugatuck Valley Planning Region: $1,010 a month

Owners with a mortgage

59%

Naugatuck Valley Planning Region: 65%

The typical cost for an owner with a mortgage in Cheshire Village is $2,625 a month, more than in Naugatuck Valley Planning Region ($2,229); without one, $1,339.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Cheshire Village does not have the same boundaries as in 2015–2019: that is why there is no change to compare.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureCheshire VillageNaugatuck Valley Planning RegionConnecticutUnited States
Rental vacancy Unreliable estimate4.3%4.3%5.5%
Homeowner vacancy Unreliable estimate1.0%0.8%0.9%
More than one person per room Unreliable estimate2.4%2.1%3.4%
People per household 2.312.492.462.53
Drive alone 78%74%69%69%
Carpool 5%9%8%9%
Public transit Unreliable estimate1%3%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 13%13%16%15%
Other means Unreliable estimate2%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Households in Cheshire Village are smaller: 2.31 people on average; in Naugatuck Valley Planning Region, 2.49.

To get to work, 78% of workers in Cheshire Village drive alone; in Naugatuck Valley Planning Region, 74%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Cheshire Village?

A typical home costs more than the typical income allows

We start with a typical home in Cheshire Village, worth $424,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 39% of the typical household income in Cheshire Village, which is $117,218 a year. For that payment to be 28% of income, a household would need to earn about $162,562 a year.

The calculator's FHA and conventional loan limits are those of all of Naugatuck Valley Planning Region.

Your numbers

Local data
$

Starts at the typical home value in Cheshire Village. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $14,844 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,793

at 7.18% · 30 years

Loan amount
$416,418
Total interest
$599,128
Paid off in
November 2056

Includes $7,162 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,735 a month

  • Tight

    $2,735 to $3,517 a month

  • Hard

    more than $3,517 a month

    Your payment · 39%

Compared with the typical household income in Cheshire Village ($117,218 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,793
Principal & interest$2,821
Property tax$608
Home insurance$177
FHA mortgage insurance (MIP)$188

You need at least $14,844 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Cheshire Village and Naugatuck Valley Planning Region

Cheshire Village is in Naugatuck Valley Planning Region, Connecticut. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Cheshire Village's own numbers

Typical home value
$424,100
Typical monthly rent
$1,118
Typical yearly household income
$117,218
Households that own their home
72%
Effective property tax rate
1.72%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Naugatuck Valley Planning Region

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$851,000
HUD fair market rent, 2 bedrooms
$1,745
Price change over 5 years (FHFA)
+65%
Homes in a high flood-risk zone
0.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Naugatuck Valley Planning Region.

Everything about Naugatuck Valley Planning Region

Buying

Buying a home in Cheshire Village

A typical home in Cheshire Village is worth $424,100: 33% above the planning region and 16% above Connecticut. With the typical household income in Cheshire Village ($117,218 a year), a typical home costs 3.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Cheshire Village 3.6 years
  • Naugatuck Valley 3.7 years
  • Connecticut 3.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Naugatuck Valley Planning Region

According to FHFA’s house price index, home prices in Naugatuck Valley Planning Region rose 81% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Naugatuck Valley Planning Region.

Period Region Connecticut U.S.
Last year (2025) +6.4% +6.1% +2.9%
5 years (2020–2025) +65% +62% +47%
10 years (2015–2025) +81% +75% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Cheshire Village next to Naugatuck Valley Planning Region, Connecticut and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Cheshire Village $424,100
  • Naugatuck Valley $317,700
  • Connecticut $366,900
  • United States $332,700
Typical monthly rent
  • Cheshire Village $1,118
  • Naugatuck Valley $1,330
  • Connecticut $1,488
  • United States $1,413
Typical yearly household income
  • Cheshire Village $117,218
  • Naugatuck Valley $86,191
  • Connecticut $95,781
  • United States $80,734
See the full table
Cheshire Village next to Naugatuck Valley Planning Region and Connecticut
Measure Cheshire Village Naugatuck Valley Planning Region Connecticut U.S.
Typical home value $424,100 $317,700 $366,900 $332,700
Typical monthly rent $1,118 $1,330 $1,488 $1,413
Typical yearly household income $117,218 $86,191 $95,781 $80,734
Households that own their home 72% 69% 66% 65%
Typical yearly property tax $7,314 $5,983 $6,643 $3,119
Effective property tax rate 1.72% 1.88% 1.81% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Naugatuck Valley Planning Region. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Cheshire Village

For a typical $424,100 home in Cheshire Village, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Cheshire Village's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,793a month

    Least cash to close
    Down payment
    $14,844
    Cash to close
    $27,567
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $188

  • Conventional, 5% down $3,715a month

    Down payment
    $21,205
    Cash to close
    $33,928
    Rate
    7.18%
    Mortgage insurance
    PMI · $201

  • Conventional, 20% down, no PMI $3,083a month

    Down payment
    $84,820
    Cash to close
    $97,543
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $3,475a month

    Down payment
    $63,615
    Cash to close
    $76,338
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Cheshire Village and for Naugatuck Valley Planning Region.

Property tax

Effective rate in Cheshire Village

1.72%of the home’s value each year

$7,314 a year for the typical owner in Cheshire Village.

  • Cheshire Village 1.72%
  • Naugatuck Valley 1.88%
  • Connecticut 1.81%

What Connecticut publishes Deadline to appeal the assessment: February 20 (Connecticut General Assembly (General Statutes of Connecticut, Chapter 203))

Exemptions and deadlines in Connecticut

Flood risk in Naugatuck Valley Planning Region

FEMA does not publish these numbers by city: they are for all of Naugatuck Valley Planning Region.

Homes in the high-risk zone
0.8%
926
Of those, with NFIP insurance
38%
Region Connecticut U.S.
Homes in the high-risk zone 0.8% 3.1% 3.5%
Of those, with NFIP insurance 38% 51% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Cheshire Village

Typical rent in Cheshire Village is $1,118 a month: 16% below the planning region.

HUD publishes a fair market rent for all of Naugatuck Valley Planning Region, by unit size. To pay the 2-bedroom one ($1,745 a month) without spending more than 30% of your income, you would need to earn $33.56 an hour working full time.

HUD fair market rent for all of Naugatuck Valley Planning Region

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,249 $24.02 $49,960
1 bedroom $1,336 $25.69 $53,440
2 bedrooms $1,745 $33.56 $69,800
3 bedrooms $2,184 $42.00 $87,360
4 bedrooms $2,599 $49.98 $103,960

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

Free help

Help to buy or rent in Cheshire Village

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Naugatuck Valley Planning Region; 1 says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Cheshire Village

No down payment, repair or rent-help program on our list is for Cheshire Village or Naugatuck Valley Planning Region. The ones below are statewide in Connecticut: they work in Cheshire Village the same as in the rest of the state.

Which programs do I qualify for? All programs in Connecticut

Housing counselors near Cheshire Village

The HUD-approved agencies closest to the center of Cheshire Village, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Capital for Change, Inc. (housing Counseling Office)

    10 Alexander Dr, Wallingford · 5 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 3 more
    (203) 624-7406

  • Neighborhood Housing Services of Waterbury, Inc. (NEST)

    193 Grand St, Waterbury · 8 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 6 more
    (203) 753-1896

  • Urban League of Southern Connecticut

    10 Wintergreen Ave, New Haven · 12 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 8 more
    (203) 327-5810

Every agency in Naugatuck Valley Planning Region All counseling agencies in Connecticut

Help in Spanish near Cheshire Village

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Cheshire Village

In HUD’s record, no housing authority with an office in Naugatuck Valley Planning Region is named for Cheshire Village or Naugatuck Valley Planning Region.

6 other authorities have an office in Naugatuck Valley Planning Region: see the list Source: HUD

Cities

Other cities in Naugatuck Valley Planning Region

These cities are also in Naugatuck Valley Planning Region. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Naugatuck Valley Planning Region Housing in Connecticut

Nearby cities

The cities closest to Cheshire Village, with the typical home value.

Neighboring counties

If Naugatuck Valley Planning Region is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Cheshire Village.

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Cheshire Village

Short answers with the numbers for Cheshire Village and all of Naugatuck Valley Planning Region. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Cheshire Village?

The typical home value in Cheshire Village is $424,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Naugatuck Valley Planning Region it is $317,700.

How much does it cost to rent in Cheshire Village?

Typical rent in Cheshire Village is $1,118 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Naugatuck Valley Planning Region is $1,745.

What is the FHA loan limit in Cheshire Village?

Cheshire Village uses the FHA limit for all of Naugatuck Valley Planning Region (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Cheshire Village?

The typical homeowner in Cheshire Village pays $7,314 a year, according to the U.S. Census Bureau. That is 1.72% of the home’s value; in Naugatuck Valley Planning Region, the rate is 1.88%.

Where can I find free help to buy or rent in Cheshire Village?

There is 1 HUD-approved counseling agency with an office in Naugatuck Valley Planning Region. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).