States › Connecticut › Putnam

Is Putnam, CT expensive to live in?

OKRent takes 22 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,28727% lower than U.S. average
💵 Families earn per year (2026)$70,654about $5,888/month · 19% lower than U.S. average
🔑 House price$245,10026% lower than U.S. average

Rent is lower than in 70% of U.S. cities. A typical house costs about 3.5 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $51,480 a year. That is $25 an hour at a full-time job.

Is rent cheaper than other Connecticut cities?

Yes. Rent here is cheaper than in most of Connecticut. It is number 6 of 64 cities from cheapest to most expensive.

Putnam
$1,287
Rockville
$1,177
Winsted
$1,490
Glastonbury Center
$2,467
Ridgefield
$2,434
Old Greenwich
$3,500+
Staples
$2,569

How much do households earn in Putnam?

Under $25k
14.0%
$25k–50k
21.2%
$50k–100k
41.3%
$100k–150k
11.2%
$150k+
4.3%

Share of households by yearly income. 15.5% of households earn $100,000 or more.

Rent by apartment size in Putnam

SizePutnamU.S. average
1 bedroom$1,087$1,324
2 bedrooms$1,284$1,509
3 bedrooms$1,360$1,698
4 bedrooms$1,886$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Putnam overall?

Everyday prices in Connecticut overall are 4% above the U.S. average (index 103.6, U.S. = 100).

Housing
117
Goods (food, clothes…)
97
Utilities
146
Other services
103
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Putnam, so the Connecticut figure is shown.

Taxes and bills in Putnam

🏛️ Property tax$3,564a year · 1.45% of home value · U.S. $3,119
⚡ Electric bill$148a month (typical) · U.S. $156

Life in Putnam

Commute to work25.1 minU.S.: 26.4 min
College degree18.8%U.S.: 35.7%
Own their home50.7%U.S.: 65.2%
Below poverty line11.7%U.S.: 12.5%
Unemployment4.1%U.S.: 5.2%

Is it cheaper to rent or buy in Putnam?

Renting is cheaper right now: about $414 a month less.

Renting
$1,287
Owning
$1,701

Owning assumes a typical $245,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $24,510 for the down payment.

Frequently asked questions

What is the average rent in Putnam, CT?

Renting in Putnam costs a median of about $1,287 a month in 2026, including utilities. The Connecticut median is $1,920.

How much do I need to make to live in Putnam?

To keep rent under 30% of income, you need about $51,480 a year, or $25 an hour at a full-time job.

Is Putnam cheap or expensive?

Putnam is rated OK: rent takes 21.9% of the typical household income of $70,654. It ranks 6th cheapest of 64 Connecticut cities we track.

How much are property taxes in Putnam?

The median homeowner in Putnam pays $3,564 a year in property taxes, about 1.45% of the median home value.

Is Putnam more expensive than the national average?

Overall prices in Connecticut are 4% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Putnam?

The median home value in Putnam is $245,100, about 3.5 times the typical yearly household income.

7,120 people live in Putnam. Numbers are typical (middle) values.