Market Overview
Home Prices in Old Lyme, CT
The median home value in Old Lyme, CT is $690,556 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 11.4% compared to a year ago and up 3.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Old Lyme are priced68% above average. Old Lyme is part of the Norwich-New London, CT metro area.
Over the past five years, Old Lyme home values have risen by approximately50.5%, reflecting strong long-term appreciation in this market.
Price History
Old Lyme Home Price Trend
City Comparison
Old Lyme vs. National Median
At $690,556, homes in Old Lyme cost 68% above the national median of $410,000. Buyers in Old Lyme should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Old Lyme?
20% Down Payment
$138,111
on $690,556
Monthly P&I
$3,602/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,575/mo
incl. taxes & insurance
Income Needed
$183,000
gross annual (30% rule)
10% Down Option
$69,056
+ PMI applies
Loan Amount (20% dn)
$552,445
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Old Lyme, CT?
The median home value in Old Lyme is $690,556 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 11.4% year-over-year.
How much have home prices changed in Old Lyme?
Over the past year, home values in Old Lyme have increased by 11.4%. Over five years, prices have risen approximately 50.5%.
How much do I need to earn to buy a home in Old Lyme?
To comfortably afford the median home price of $690,556 with a 20% down payment ($138,111) at today's rates (6.8%), you'd need a gross annual income of approximately $183,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Old Lyme compare to the national average home price?
The national median home value is approximately $410,000. At $690,556, homes in Old Lyme are 68% above the national average.
What metro area is Old Lyme part of?
Old Lyme is part of the Norwich-New London, CT metropolitan area. Home prices and market conditions can vary across the broader metro region.