Cheshire Village 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.
IndexCheshire VillageConnecticutNational
Cost of living index132128100
IndexCheshire VillageConnecticutNational
Goods & Services index121123100
Groceries index128125100
Health care index119117100
Housing index157144100
Transportation index109105100
Utilities index128130100
Displayed above is a general overview of the Cheshire Village, CT cost of living index. The overall cost of living index in Cheshire Village, CT is 132, which is 3% higher than the Connecticut average and 32% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Cheshire Village, CT are 2% lower than the Connecticut average and 21% higher than the national average.

Did you know?

  • The cost of living in Cheshire Village is 3% higher than the Connecticut average.
  • The cost of living in Cheshire Village is 32% higher than the national average.
  • The cost of housing in Cheshire Village is 57% 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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Compare Cheshire Village, CT Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Cheshire Village, CT to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Cheshire Village, CT, you have to earn a higher income in order to still have the same standard of living. To operate the Cheshire Village, CT salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$106,881$8,907$2,494$3,207
Renters$36,761$3,063$858$1,103
If you want to find a good determining factor for the cost of living and the general affordability of housing in Cheshire Village, CT, all you must look at 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, CT, the median monthly income is $106,881 for those who own their own homes. Under the standard rule, that income level would allow for $2,494 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $36,761, per the median income in the area. That would allow for renters to spend up to $858 on monthly rental expenses.

Connecticut Sales Tax

StateGeneral Sales TaxWith Max Surtax
Connecticut6.35%6.35%

Connecticut Income Tax

StateIncome Tax (Low)Income Tax (High)
Connecticut3%6.7%
When considering the overall cost of living expenses in Cheshire Village, CT, it's important to take into account the sales tax for Connecticut, as well as the rate for income tax in Connecticut. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Connecticut is 6.35%, and the sales tax in the state of Connecticut is 6.35%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Connecticut starts from 3% and goes up to 6.7%.

Goods & Services

ItemCheshire VillageNational avg.Difference
Haircut $17.50$14.5919.9%
Beauty Salon $47.06$34.6835.7%
Toothpaste $3.22$2.4730.2%
Shampoo $1.17$1.0214.5%
Movie $10.07$9.872.0%
Bowling $7.17$4.3963.3%

Groceries

ItemCheshire VillageNational avg.Difference
Ground Beef $6.34$4.4841.6%
Fried Chicken $1.90$1.4629.8%
Milk $2.56$2.368.6%
Potatoes $4.51$3.0647.3%
Pizza $10.11$9.249.4%
Beer $10.03$8.6316.2%

Health Care

ItemCheshire VillageNational avg.Difference
Optometrist $116.73$99.7817.0%
Doctor $123.77$105.0317.8%
Dentist $122.94$88.7038.6%
Ibuprofen $11.38$9.4120.9%
Lipitor $267.92$298.5010.2%

Housing

ItemCheshire VillageNational avg.Difference
Home Price $315,900.00$175,700.0079.8%
Avg. Mortgage Payment $1,493.00$1,081.0338.1%
Apartment Rent $959.00$920.004.2%

Transportation

ItemCheshire VillageNational avg.Difference
Gasoline $2.44$2.0916.6%
Tire Balancing $39.98$45.2911.7%

Utilities

ItemCheshire VillageNational avg.Difference
All Electricity$265.73$170.8055.6%
Phone $24.95$28.2611.7%
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, StatePopulationCost of Living IndexNational Avg.
Waterbury, CT109,88711111%
New Britain, CT73,09511313%
Meriden, CT60,61611616%
Terryville, CT5,12111717%
Oakville, CT9,11811717%
Cheshire Village, CT5,26413232%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Collegeville, PA5,26313030%
Avondale, LA5,26286-14%
Hilmar-Irwin, CA5,2661077%
South Amherst, MA5,26712323%
Zimmerman, MN5,26897-3%
Cheshire Village, CT5,26413232%
Source: The Cheshire Village, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.