Cost Of Living In Byram, CT

Byram cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Byram	Connecticut	National
Cost of living index	183	128	100
Index	Byram	Connecticut	National
Goods & Services index	122	121	100
Groceries index	134	128	100
Health care index	114	117	100
Housing index	322	144	100
Transportation index	111	114	100
Utilities index	126	116	100

Here we can see a simple outline of the cost of living in Byram, CT. As you can see, with the average cost of living in Byram, CT being 183, that puts it 43% higher than the average of Connecticut and 83% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Byram, CT, the price of goods and services are 1% higher than the average of Connecticut as well as 22% higher than the nation's average.

Did you know?

The cost of living in Byram is 43% higher than the Connecticut average.
The cost of living in Byram is 83% higher than the national average.
The cost of housing in Byram is 222% higher than the national average.
Connecticut general sales tax is 25% higher than the national average.
Connecticut state income tax is 35% 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

The salary calculator allows you to compare how much your current salary in Byram, CT would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Byram, CT, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Byram, CT salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$109,643	$9,137	$2,558	$3,290
Renters	$74,185	$6,182	$1,731	$2,226

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Byram, CT, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Byram, CT has a median income of about $109,643 for people who own homes. Based on that number, a person should spend a maximum of $2,558 on expenses related to housing. Renters have a slightly different median income, which is $74,185. Based on this average, renters should spend no more than $1,731 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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%	6.7%

When assessing the complete cost of living in Byram, CT, the Connecticut income tax and the Connecticut sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Connecticut maximum surtax is 6.35%, and the Connecticut sales tax is 6.35%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3% to 6.7% in Connecticut.

Goods & Services

Item	Byram	National avg.	Difference
Haircut	$19.59	$15.56	25.9%
Beauty Salon	$64.49	$36.11	78.6%
Toothpaste	$3.04	$2.47	22.8%
Shampoo	$0.98	$0.96	1.2%
Movie	$12.88	$10.13	27.2%
Bowling	$7.01	$4.74	48.0%

Groceries

Item	Byram	National avg.	Difference
Ground Beef	$5.75	$3.98	44.3%
Fried Chicken	$1.66	$1.41	17.7%
Milk	$2.70	$2.06	30.8%
Potatoes	$5.37	$2.98	80.1%
Pizza	$9.80	$9.47	3.4%
Beer	$9.94	$8.79	13.0%

Health Care

Item	Byram	National avg.	Difference
Optometrist	$114.84	$101.04	13.7%
Doctor	$124.85	$107.44	16.2%
Dentist	$110.04	$90.42	21.7%
Ibuprofen	$10.40	$9.28	12.1%
Lipitor	$413.65	$426.50	3.0%

Housing

Item	Byram	National avg.	Difference
Home Price	$655,300.00	$175,700.00	273.0%
Avg. Mortgage Payment	$2,269.26	$1,133.23	100.2%
Apartment Rent	$1,860.00	$920.00	102.2%

Transportation

Item	Byram	National avg.	Difference
Gasoline	$2.19	$1.99	10.0%
Tire Balancing	$52.50	$45.76	14.7%

Utilities

Item	Byram	National avg.	Difference
All Electricity	$237.81	$163.81	45.2%
Phone	$29.01	$28.39	2.2%

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, State	Population	Cost of Living Index	National Avg.
Greenville, NY	573	103	3%
Haverstraw, NY	12,060	124	24%
Hartsdale, NY	5,346	136	36%
Fairview CDP (Westchester County), NY	2,978	141	41%
Great Neck Plaza, NY	6,823	152	52%
Byram, CT	4,885	183	83%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Union Grove, WI	4,883	99	-1%
Farrell, PA	4,883	82	-18%
Porter, IN	4,883	106	6%
Fort Pierce South, FL	4,887	88	-12%
Floral City, FL	4,883	85	-15%
Byram, CT	4,885	183	83%

Source: The Byram, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.

Byram, CT Cost of Living