City · 7,120 residents · Northeastern Connecticut Planning Region, Connecticut
Putnam, Connecticut
In Putnam, a typical home is worth $245,100 and typical rent is $1,147 a month. Compared with all of Northeastern Connecticut Planning Region, typical household income is 28% lower, the typical home value is 20% lower, and the share of households that own their home is 27 points lower.
Putnam is in Northeastern Connecticut 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 Northeastern Connecticut Planning Region. See the county
What this place has that others do not, from public data, most unusual first.
1
51% of households in Putnam own their home, against 77% in Northeastern Connecticut Planning Region.
2
Putnam has the 3rd smallest share of rent-burdened renters of the 60 cities in Connecticut with more than 5,000 people (38%).
3
The typical household income in Putnam is $65,511,28% less than in Northeastern Connecticut Planning Region as a whole ($90,589).
4
Nearby, in Willimantic, the typical home value is $190,900: 22% less than in Putnam ($245,100).
5
The typical home in Putnam is worth $245,100,20% less than in Northeastern Connecticut Planning Region as a whole ($307,600).
6
Putnam has the 5th lowest typical rent of the 63 cities in Connecticut with more than 5,000 people ($1,147).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Putnam
What homes there are in Putnam, 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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Kind of home: Putnam and its comparisons
Measure
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Detached house
36%
74%
59%
61%
Attached house
8%
4%
7%
6%
Building of 2 to 4
40%
12%
16%
8%
Apartments (5 or more)
Unreliable estimate
8%
19%
19%
Mobile home
Unreliable estimate
2%
1%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Putnam there is a bit of everything: no kind of home reaches half. The most common are buildings of 2 to 4 homes (40%), more than in Northeastern Connecticut Planning Region (12%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Year built: Putnam and its comparisons
Measure
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Before 1960
53%
35%
41%
26%
1960–1979
22%
24%
27%
24%
1980–1999
16%
25%
20%
25%
2000–2009
6%
12%
7%
14%
2010 or later
Unreliable estimate
5%
5%
11%
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K21%
$200K–$300K53%
$300K–$500K17%
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Putnam and its comparisons
Measure
Putnam
Under $100K
Unreliable estimate
$100K–$200K
21%
$200K–$300K
53%
$300K–$500K
17%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99922%
$1,000–$1,49957%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Putnam and its comparisons
Measure
Putnam
Under $500
Unreliable estimate
$500–$999
22%
$1,000–$1,499
57%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,813 a month
Northeastern Connecticut Planning Region: $1,985 a month
Without a mortgage
$754 a month
Northeastern Connecticut Planning Region: $813 a month
Owners with a mortgage
66%
Northeastern Connecticut Planning Region: 69%
Owning costs less in Putnam: with a mortgage, the typical cost is $1,813 a month; in Northeastern Connecticut Planning Region, $1,985. Without one, $754.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019: Putnam and its comparisons
Measure
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Typical home value
Boundaries changed
Boundaries changed
+33%
+53%
Typical rent
Boundaries changed
Boundaries changed
+26%
+33%
Typical household income
Boundaries changed
Boundaries changed
+22%
+29%
The boundaries of Putnam changed since 2015–2019, so the Census does not compare its figures from then and now.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Putnam and its comparisons
Measure
Putnam
Northeastern Connecticut Planning Region
Connecticut
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
4.3%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
0.5%
2.1%
3.4%
People per household
2.14
2.41
2.46
2.53
Drive alone
82%
80%
69%
69%
Carpool
10%
6%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
3%
3%
Walk or bike
Unreliable estimate
1%
3%
3%
Work from home
7%
12%
16%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Putnam has 2.14 people, fewer than in Northeastern Connecticut Planning Region (2.41).
In Putnam, 10% of workers share a car to get to work; in Northeastern Connecticut Planning Region, 6%.
Do the math
What would you pay each month for a home in Putnam?
A typical home costs more than the typical income allows
We start with a typical home in Putnam, worth $245,100, 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 Putnam, which is $65,511 a year. For that payment to be 28% of income, a household would need to earn about $91,586 a year.
The calculator's FHA and conventional loan limits are those of all of Northeastern Connecticut Planning Region.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Putnam. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $8,579 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,137
at 7.18% · 30 years
Loan amount
$240,660
Total interest
$346,253
Paid off in
November 2056
Includes $4,139 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,529 a month
Tight
$1,529 to $1,965 a month
Hard
more than $1,965 a month
Your payment · 39%
Compared with the typical household income in Putnam ($65,511 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,630
Property tax
$296
Home insurance
$102
FHA mortgage insurance (MIP)
$108
You need at least $8,579 for the down payment, plus closing costs.
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.
Total monthly payment $2,137; principal and interest $1,630.
The city and its county
Putnam and Northeastern Connecticut Planning Region
Putnam is in Northeastern Connecticut 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).
Putnam
Map of Northeastern Connecticut Planning Region, Connecticut, with Putnam marked. Around it, the neighboring counties.
Putnam
Northeastern Connecticut Planning Region
Other cities with a page
Putnam's own numbers
Typical home value
$245,100
Typical monthly rent
$1,147
Typical yearly household income
$65,511
Households that own their home
51%
Effective property tax rate
1.45%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Northeastern Connecticut Planning Region
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,568
Price change over 5 years (FHFA)
+62%
Homes in a high flood-risk zone
0%
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 Northeastern Connecticut Planning Region.
A typical home in Putnam is worth $245,100: 20% below the planning region and 33% below Connecticut. With the typical household income in Putnam ($65,511 a year), a typical home costs 3.7 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.
Putnam3.7 years
Northeastern Connecticut3.4 years
Connecticut3.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Northeastern Connecticut Planning Region
According to FHFA’s house price index, home prices in Northeastern Connecticut Planning Region rose 95% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Northeastern Connecticut Planning Region.
Yearly change in FHFA’s price index in Northeastern Connecticut Planning Region, 2016 to 2025
2016: +0.4% +0.4% 2016
2017: +5.4% +5.4% 2017
2018: +5.2% +5.2% 2018
2019: +3.2% +3.2% 2019
2020: +4.8% +4.8% 2020
2021: +14.5% +14.5% 2021
2022: +10.3% +10.3% 2022
2023: +10.3% +10.3% 2023
2024: +9.0% +9.0% 2024
2025: +6.6% +6.6% 2025
Change in FHFA’s price index in Northeastern Connecticut Planning Region, Connecticut and the United States
Period
Region
Connecticut
U.S.
Last year (2025)
+6.6%
+6.1%
+2.9%
5 years (2020–2025)
+62%
+62%
+47%
10 years (2015–2025)
+95%
+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
Putnam next to Northeastern Connecticut 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
Putnam$245,100
Northeastern Connecticut$307,600
Connecticut$366,900
United States$332,700
Typical monthly rent
Putnam$1,147
Northeastern Connecticut$1,155
Connecticut$1,488
United States$1,413
Typical yearly household income
Putnam$65,511
Northeastern Connecticut$90,589
Connecticut$95,781
United States$80,734
See the full table
Putnam next to Northeastern Connecticut Planning Region and Connecticut
Measure
Putnam
Northeastern Connecticut Planning Region
Connecticut
U.S.
Typical home value
$245,100 ▼20% below the planning region
$307,600
$366,900
$332,700
Typical monthly rent
$1,147
$1,155
$1,488
$1,413
Typical yearly household income
$65,511 ▼28% below the planning region
$90,589
$95,781
$80,734
Households that own their home
51% ▼27 points below the planning region
77%
66%
65%
Typical yearly property tax
$3,564 ▼19% below the planning region
$4,375
$6,643
$3,119
Effective property tax rate
1.45% ▲0.03 points above the planning region
1.42%
1.81%
0.94%
Renters with high rent for their income
38% ▼3 points below the planning region
41%
53%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Northeastern Connecticut 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 Putnam
For a typical $245,100 home in Putnam, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Putnam's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,137a month
Least cash to close
Down payment
$8,579
Cash to close
$15,932
Rate
7.18%
Mortgage insurance
FHA MIP · $108
Conventional, 5% down$2,092a month
Down payment
$12,255
Cash to close
$19,608
Rate
7.18%
Mortgage insurance
PMI · $116
Conventional, 20% down, no PMI$1,727a month
Down payment
$49,020
Cash to close
$56,373
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,953a month
Down payment
$36,765
Cash to close
$44,118
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Putnam
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,137
$8,579
$240,661
7.18%
FHA MIP · $108
$15,932
580
Conventional, 5% down
$2,092
$12,255
$232,845
7.18%
PMI · $116
$19,608
620*
Conventional, 20% down, no PMI
$1,727
$49,020
$196,080
7.18%
None
$56,373
620*
ITIN, 15% down (example)
$1,953
$36,765
$208,335
8.18%
None
$44,118
Set by the lender
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.
Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Putnam and for Northeastern Connecticut Planning Region.
Property tax
Effective rate in Putnam
1.45%of the home’s value each year
$3,564 a year for the typical owner in Putnam.
Putnam1.45%
Northeastern Connecticut1.42%
Connecticut1.81%
What Connecticut publishesDeadline to appeal the assessment: February 20 (Connecticut General Assembly (General Statutes of Connecticut, Chapter 203))
Typical rent in Putnam is $1,147 a month: about the same as the planning region. In Putnam, 38% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for each area of Northeastern Connecticut Planning Region; Putnam is in Northeastern Connecticut Planning Region, CT. To pay the 2-bedroom one ($1,568 a month) without spending more than 30% of your income, you would need to earn $30.15 an hour working full time.
Fair market rent by size in Northeastern Connecticut Planning Region, CT
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Northeastern Connecticut Planning Region, CT (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$1,092
$21.00
$43,680
1 bedroom
$1,262
$24.27
$50,480
2 bedrooms
$1,568
$30.15
$62,720
3 bedrooms
$2,006
$38.58
$80,240
4 bedrooms
$2,126
$40.88
$85,040
HUD splits this region into 2 areas with different fair market rents: for 2 bedrooms they run from $1,568 to $1,568. The table by area, below, shows which one each town is in.
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
Fair market rent by HUD area in Northeastern Connecticut Planning Region
HUD splits this region into 2 areas, each with its own fair market rent. Find your town in its area's list; the housing agency tells you which one it uses for your voucher.
Fair market rent by HUD area in Northeastern Connecticut Planning Region
HUD area
Studio
1 bd
2 bd
3 bd
4 bd
Hourly wage, 2 bd
Northeastern Connecticut Planning Region, CTThe area where most people livePutnam is in this area15 towns in this area
Voluntown town, CT Exception Area1 town in this area
Voluntown town
$1,092
$1,262
$1,568
$2,006
$2,206
$30.15
HUD fair market rent by area and size, per month, Fiscal year 2027. The wage is what full-time work must pay to rent 2 bedrooms without spending more than 30% of income. Source: HUD, Fiscal year 2027Source: Fair Market Rents (HUD)Fiscal year 2027Fair Market Rents (HUD) (external site)
Low-income apartments
Low-income apartments in Putnam
HUD lists 2 buildings with rents for lower incomes in Putnam. These are the largest.
Ella Grasso Gardens65 Ballou St, Putnam 0626072 low-income homes · For older adults(860) 928-5815
Bulger Apartments218 Woodstock Ave, Putnam 0626027 low-income homes · For older adults(860) 963-6829
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.
We found no HUD-approved agencies with an office in Northeastern Connecticut Planning Region. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Putnam or Northeastern Connecticut Planning Region. The ones below are statewide in Connecticut: they work in Putnam the same as in the rest of the state.
Connecticut state agency second mortgage for the down payment and closing costs: 4% of the price, between $3,000 and $15,000, together with a CHFA mortgage.Offered by Connecticut Housing Finance Authority (CHFA).
Connecticut state agency loan of up to $25,000, with no interest or monthly payments, for the down payment and closing costs, forgiven 10% each year over ten years; it goes with a CHFA mortgage.Offered by Connecticut Housing Finance Authority (CHFA), on behalf of the CT Department of Housing.
Connecticut state agency mortgage for first-time buyers and for people who have owned a home before, with deferred 0% help of up to 3.5% of the loan for the down payment or closing costs.Offered by Connecticut Housing Finance Authority (CHFA).
1 of the 3 agencies on this list says it serves 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 Putnam
HUD’s record names them for Putnam or Northeastern Connecticut Planning Region. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.
Putnam Housing AuthorityPublic housing and Section 8 vouchers(860) 963-6829
No legal help resource on our list is for Putnam or Northeastern Connecticut Planning Region in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Putnam and all of Northeastern Connecticut 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 Putnam?
The typical home value in Putnam is $245,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Northeastern Connecticut Planning Region it is $307,600.
How much does it cost to rent in Putnam?
Typical rent in Putnam is $1,147 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Northeastern Connecticut Planning Region is $1,568.
What is the FHA loan limit in Putnam?
Putnam uses the FHA limit for all of Northeastern Connecticut 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 Putnam?
The typical homeowner in Putnam pays $3,564 a year, according to the U.S. Census Bureau. That is 1.45% of the home’s value; in Northeastern Connecticut Planning Region, the rate is 1.42%.
Where can I find free help to buy or rent in Putnam?
We found no HUD-approved counseling agencies with an office in Northeastern Connecticut Planning Region; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
