CONNECTICUT, USA — Like prices on everything these days, the cost of housing is going up radically.
Our southern piece of New England is known for its fall foliage, good pizza, and charming shoreline communities, but those seeking a place to call home may say Connecticut should be known for high rents and sky-high home prices.
The expense has captured the attention of local and state leaders who are now looking for ways to help ease the squeeze on a home buyer's budget.
The Connecticut Department of Housing Commissioner Seila Mosquera-Bruno said this is nothing new.
“Lack of affordable housing has been an issue for a long time; 20 years ago, I started in the field, and there was a need for affordable housing even then,” Mosquera-Bruno said.
New Haven Mayor Justin Elicker tells us that the state's largest cities – Hartford, New Haven, and Bridgeport – are all facing a similar and simple problem: Too little supply, too high a demand.
“Right now, because the vacancy rate is so low, it means that all the housing prices are up because there are not a lot of units available,” Elicker said.
But just how costly is Connecticut? Let’s look at the averages according to Zillow and RentCafe:
In Bridgeport, those renting a basic one-bedroom apartment face an average monthly payment of $1,367, while the buyers see an average cost of $281,000 for a starter single-family home.
Hopping over to New Haven, the same sort of apartment goes for $2,051 per month on average, and home buyers see median costs of around $259,000.
Up north to Hartford, average rents are at $1,400 per month, and home buyers are looking at $145,000 as an average home price.
Compared to other states, Connecticut renters are paying around $150 more per month for an apartment in these three cities and across the state.
Those falling into the home-buying side of things could end up paying up to 150,000 less in some cases in these three cities.
Mosquera-Bruno says the above-average rents are an issue Gov. Ned Lamont’s administration is taking on.
“We started four years ago; we finished in the first term with 6,800 new units and $500 million in federal and state resources,” Mosquera-Bruno explained. “That brought in about $3 billion in development activities that help the economic engine of Connecticut.”
She said the goal is to increase the number of homes and apartments available and the affordable percentage, which is not an overnight process.
“We have a lot of work in front of us, we have done a lot, but we need to do more,” Mosquera-Bruno said.
Editor's Note: This article is part of a 5-part series looking into Connecticut's housing crisis.
Read part 2, The state of real estate in Connecticut, here.
Brooke Griffin is a reporter for FOX61 News. She can be reached at bgriffin@fox61.com. Follow her on Facebook, Twitter, and Instagram.
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