The purpose of this paper is to improve the inappropriate analysis results when the end of the brace on braced frame is applied as pinned connection in practice. The stiffness of the gusset plate connection on the braced frame has the amount of between pinned and rigid connection, and the analysis model that applies the stiffness of the connection must be used for accurate performance evaluation. In this study, the stiffness of the gusset plate designed by the balanced design procedure are quantified, and applied to the analysis model to simulate the gusset plate connection. The proposed model was verified through nonlinear static analysis (pushover analysis) of SAP2000. The effect of the connection on the seismic performance of the braced frame was analyzed by comparing the proposed model and pinned model. As a result, it was confirmed that the performance of the braced frame was evaluated conservatively in practice, and the ductility was overestimated. Therefore, it is important to consider the connection for accurate and economical performance evaluation.