Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Lake Chaffee

Learn about the people, housing, costs and businesses in Lake Chaffee, Connecticut

Median Home$334,800
Median Rent$1,246/month
Population284
Leading IndustriesWholesale Trade · Professional Services · Public Administration10% wholesale trade
Home Value Growth⬆⬆⬆+25.6% over 2 years
Young Adults33% of residentswell above average
Homeowners77% of occupied units
NotableHigh Incomes$122k/year · top 8% nationally
NotableTransit81/100 · excellent transit access
Lake Chaffee
CT

Frequently Asked Questions

What are today's mortgage rates in Lake Chaffee?

As of today, the 30-year fixed mortgage rate for Lake Chaffee is approximately 6.938% (6.976% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for Lake Chaffee
What is the median home price in Lake Chaffee?

The median home value in Lake Chaffee is $335k. The median monthly rent is $1,246. Annual property taxes average $7k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Chaffee?

Home values in Lake Chaffee have increased 25.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lake Chaffee?

Based on a typical all-in ownership cost of $1,837/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $79k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Chaffee is $122k/year.

Calculate your buying power
What industries drive the economy in Lake Chaffee?

The largest employment sectors in Lake Chaffee are public administration (26%) and retail (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.