Cos Cob 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.
IndexCos CobConnecticutNational
Cost of living index216128100
IndexCos CobConnecticutNational
Goods & Services index122121100
Groceries index134128100
Health care index114117100
Housing index434144100
Transportation index111114100
Utilities index126116100
A general summary of the cost of living index in Cos Cob, CT is shown above. Compared to the state average of Connecticut the cost of living index in Cos Cob, CT is 216, which is 70% higher than the average in Connecticut and compared to the national average it is 116% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Cos Cob, CT goods and services come in at 1% higher than the average in Connecticut and are 22% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Cos Cob is 70% higher than the Connecticut average.
  • The cost of living in Cos Cob is 116% higher than the national average.
  • The cost of housing in Cos Cob is 334% 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.

Find Real Estate Listings In Cos Cob

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Cos Cob

Compare Cos Cob, CT Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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 Cos Cob, 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 Cos Cob, CT, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Cos Cob, 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 IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$154,107$12,842$3,596$4,624
Renters$96,050$8,004$2,241$2,882
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 Cos Cob, 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. Cos Cob, CT has a median income of about $154,107 for people who own homes. Based on that number, a person should spend a maximum of $3,596 on expenses related to housing. Renters have a slightly different median income, which is $96,050. Based on this average, renters should spend no more than $2,241 on all of their rental costs if they want to maintain a non-impoverished standard of living.

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 assessing the complete cost of living in Cos Cob, 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

ItemCos CobNational avg.Difference
Haircut $19.59$15.5625.9%
Beauty Salon $64.49$36.1178.6%
Toothpaste $3.04$2.4722.8%
Shampoo $0.98$0.961.2%
Movie $12.88$10.1327.2%
Bowling $7.01$4.7448.0%

Groceries

ItemCos CobNational avg.Difference
Ground Beef $5.75$3.9844.3%
Fried Chicken $1.66$1.4117.7%
Milk $2.70$2.0630.8%
Potatoes $5.37$2.9880.1%
Pizza $9.80$9.473.4%
Beer $9.94$8.7913.0%

Health Care

ItemCos CobNational avg.Difference
Optometrist $114.84$101.0413.7%
Doctor $124.85$107.4416.2%
Dentist $110.04$90.4221.7%
Ibuprofen $10.40$9.2812.1%
Lipitor $413.65$426.503.0%

Housing

ItemCos CobNational avg.Difference
Home Price $937,700.00$175,700.00433.7%
Avg. Mortgage Payment $2,269.26$1,133.23100.2%
Apartment Rent $1,858.00$920.00102.0%

Transportation

ItemCos CobNational avg.Difference
Gasoline $2.19$1.9910.0%
Tire Balancing $52.50$45.7614.7%

Utilities

ItemCos CobNational avg.Difference
All Electricity$237.81$163.8145.2%
Phone $29.01$28.392.2%
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, StatePopulationCost of Living IndexNational Avg.
Greenville, NY5731033%
Hartsdale, NY5,34613636%
Fairview CDP (Westchester County), NY2,97814141%
Mount Vernon, NY67,96213333%
Huntington Station, NY34,00514343%
Cos Cob, CT6,265216116%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Belle Isle, FL6,26511313%
Salem, IN6,26481-19%
Purcell, OK6,25983-17%
Douglas, WY6,27295-5%
Orchard Mesa, CO6,27298-2%
Cos Cob, CT6,265216116%
Source: The Cos Cob, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.