At $2,197/mo, rent takes about 36% of the local median household income, slightly above the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,197 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Waterford changed +3.7% over the year to September 2026. Across the 41 Connecticut cities Zillow tracks, the typical change was +3.7%.
Rent has risen 3 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($73,156) is $1,829 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,550); a 2-bedroom is $1,900.
New London, 3 miles away, rents for 23% less ($1,700/mo), about $6,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Waterford. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
Who lives here
Waterford, CT is majority owner-occupied, has a large retiree population, 27.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Waterford, CT has changed in 5 years
Median household income rose from $67,333 to $73,156 between 2021 and 2024, a 8.6% shift. The population has grown by 7.9% since 2021, moving from about 3,061 residents to roughly 3,304. Renters now make up 33.1% of households, compared with 36.9% five years ago. College-educated residents now make up 27.3% of adults here, versus 21.7% in 2021.
Discussions about Waterford
No discussions yet. Start the conversation.
Can you afford rent in Waterford on your salary?
At $2,197/mo, how Waterford rent compares to typical pay (30% rule).
Waterford rent by bedroom count
Median rent for each apartment size in Waterford. Click any size for full breakdown.
Tips for renters in Waterford
Last updated: October 17, 2026
The median rent in Waterford is $2,197/mo as of October 2026. A studio apartment averages $1,300/mo while a 2-bedroom runs $1,900/mo. One-bedroom apartments average $1,550/mo and 3-bedroom units go for $2,460/mo.
At 36% of local median household income ($73,156/yr), Waterford ranks as moderate compared to the national benchmark of 30%. Rents have increased 3.7% over the past year.
Frequently asked questions
How much income do you need to rent in Waterford?
Is rent going up or down in Waterford?
How does Waterford rent compare to other cities in Connecticut?
Which nearby cities are cheaper to rent in than Waterford?
At $2,197/mo, rent takes ~36% of Waterford's median household income ($73,156/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Waterford.
No discussions yet.