What $500,000 will buy you in Southwestern Connecticut

Want to live on the water for less than $500,000? Give Stratford a look. We found this two-bedroom, 2.5-bathroom condo with a deck and 1,478 square feet of living space on the market for $475,000. The Census reports the median value of an owner-occupied house in the town is $289,300.

Want to live on the water for less than $500,000? Give Stratford a look. We found this two-bedroom, 2.5-bathroom condo with a deck and 1,478 square feet of living space on the market for $475,000. The Census reports the median value of an owner-occupied house in the town is $289,300.

Last week, we looked at what the average New Englander’s home-buying budget of $260,000 would get for house hunters in our neck of the woods. The short answer: Not much. So we decided to raise the budget a little bit and shop around Southwestern Connecticut, armed wit a $500,000 budget.

Just like last week, we saw quite the variation from town to town, which makes sense. According to the Census, the median value of an owner-occupied unit in Naugatuck comes in at $221,400, so the budget stretched pretty far in that town. But in places like Greenwich and Westport, where the median value of homes is more than $1 million, it was slim pickings.

Maggie Gordon