Cost Of Living in Southwood Acres, 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	Southwood Acres	Connecticut	National
Cost of living	111	118	100
Goods & Services	108	109	100
Groceries	101	102	100
Health care	103	109	100
Housing	121	137	100
Transportation	96	100	100
Utilities	127	130	100

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Cost Of Living Quick Facts

The cost of living in Southwood Acres is 6% lower than the Connecticut average
The cost of living in Southwood Acres is 11% higher than the national average
Southwood Acres housing is 21% 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	$98,813	$8,234	$2,305	$2,965
Renters	$88,926	$7,411	$2,075	$2,668

To approximate the cost of living and the housing affordability in Southwood Acres, CT, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Southwood Acres have a median income of $98,813. Therefore, the amount that a consumer should spend on housing costs should be no more than $2,305 per month to avoid calamity and poverty. The renters in the city have an income of about $88,926, which would make their monthly maximum allowable rental costs $2,075.

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	Southwood Acres	National avg.	Difference
Haircut	$33.78	$24.26	39.2%
Beauty Salon	$58.55	$45.56	28.5%
Toothpaste	$3.65	$3.70	1.5%
Shampoo	$1.42	$1.28	10.9%
Movie	$12.85	$12.13	5.9%
Bowling	$18.33	$18.00	1.9%

Groceries

Item	Southwood Acres	National avg.	Difference
Ground Beef	$6.23	$5.84	6.7%
Fried Chicken	$1.46	$1.57	7.4%
Milk	$4.73	$4.67	1.2%
Potatoes	$4.96	$4.93	0.6%
Pizza	$10.79	$12.09	10.7%
Beer	$10.49	$10.41	0.8%

Health Care

Item	Southwood Acres	National avg.	Difference
Optometrist	$166.22	$125.68	32.3%
Doctor	$182.50	$135.78	34.4%
Dentist	$127.00	$113.29	12.1%
Ibuprofen	$10.89	$10.65	2.2%
Lipitor	$384.88	$468.60	17.9%

Housing

Item	Southwood Acres	National avg.	Difference
Home Price	$197,400.00	$184,700.00	6.9%
Avg. Mortgage Payment	$2,110.08	$2,346.69	10.1%
Apartment Rent	$1,447.00	$949.00	52.5%

Transportation

Item	Southwood Acres	National avg.	Difference
Gasoline	$3.34	$3.46	3.4%
Tire Balancing	$71.63	$59.92	19.5%

Utilities

Item	Southwood Acres	National avg.	Difference
All Electricity	$302.09	$193.99	55.7%
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.
Blue Hills, CT	2,600	102	2.0%
Springfield, MA	153,677	102	2.1%
Rockville, CT	7,084	102	2.4%
Stafford Springs, CT	4,784	104	3.8%
Hartford, CT	122,549	104	3.9%
Southwood Acres, CT	8,352	111	11.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Fruitvale, CO	8,352	107	6.7%
Fort Dix, NJ	8,350	139	39.0%
Gonzales, CA	8,348	137	37.0%
Somers, WI	8,348	106	6.1%
Moundsville, WV	8,356	81	19.2%
Southwood Acres, CT	8,352	111	11.2%

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 Southwood Acres, CT