Cost Of Living in Cheshire Village, CT

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Cheshire Village	Connecticut	National
Cost of living	124	118	100
Goods & Services	108	109	100
Groceries	99	102	100
Health care	113	109	100
Housing	157	137	100
Transportation	103	100	100
Utilities	133	130	100

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Cost Of Living Quick Facts

The cost of living in Cheshire Village is 5% higher than the Connecticut average
The cost of living in Cheshire Village is 24% higher than the national average
Cheshire Village housing is 57% higher than the national average
Connecticut general sales tax is 24% higher than the national average
Connecticut state income tax is 16% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$127,024	$10,585	$2,964	$3,811
Renters	$23,333	$1,944	$544	$700

A good indicator of the general affordability of housing in Cheshire Village, CT, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Cheshire Village, the median monthly income is $127,024 for those who own their own homes. Under the standard rule, that income level would allow for $2,964 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $23,333, per the median income in the area. That would allow for renters to spend up to $544 on monthly rental expenses.

Connecticut Sales Tax

State	General Sales Tax	With Max Surtax
Connecticut	6.35%	6.35%

Connecticut Income Tax

State	Income Tax (Low)	Income Tax (High)
Connecticut	3%	6.99%

Goods & Services

Item	Cheshire Village	National avg.	Difference
Haircut	$39.78	$24.26	64.0%
Beauty Salon	$69.00	$45.56	51.4%
Toothpaste	$3.86	$3.70	4.2%
Shampoo	$1.47	$1.28	14.8%
Movie	$15.07	$12.13	24.2%
Bowling	$24.00	$18.00	33.3%

Groceries

Item	Cheshire Village	National avg.	Difference
Ground Beef	$6.28	$5.84	7.6%
Fried Chicken	$1.59	$1.57	1.4%
Milk	$4.83	$4.67	3.3%
Potatoes	$5.03	$4.93	2.0%
Pizza	$13.21	$12.09	9.3%
Beer	$10.53	$10.41	1.1%

Health Care

Item	Cheshire Village	National avg.	Difference
Optometrist	$134.70	$125.68	7.2%
Doctor	$162.26	$135.78	19.5%
Dentist	$136.03	$113.29	20.1%
Ibuprofen	$11.26	$10.65	5.7%
Lipitor	$375.63	$468.60	19.8%

Housing

Item	Cheshire Village	National avg.	Difference
Home Price	$333,500.00	$184,700.00	80.6%
Avg. Mortgage Payment	$3,730.18	$2,346.69	59.0%
Apartment Rent	$974.00	$949.00	2.6%

Transportation

Item	Cheshire Village	National avg.	Difference
Gasoline	$3.47	$3.46	0.2%
Tire Balancing	$63.33	$59.92	5.7%

Utilities

Item	Cheshire Village	National avg.	Difference
All Electricity	$296.64	$193.99	52.9%
Phone	$185.16	$192.25	3.7%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Waterbury, CT	107,841	101	1.1%
New Britain, CT	72,543	103	3.2%
Meriden, CT	59,512	104	4.4%
Terryville, CT	5,019	106	6.0%
Naugatuck, CT	31,201	108	8.4%
Cheshire Village, CT	6,491	124	23.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Irvington, NY	6,494	172	72.4%
Moraine, OH	6,494	88	11.5%
Ambler, PA	6,494	117	17.3%
Peace River D, BC	6,494	n/a
Thermalito, CA	6,495	106	6.4%
Cheshire Village, CT	6,491	124	23.8%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Cheshire Village, CT