Stamford 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.
IndexStamfordConnecticutNational
Cost of living index161128100
IndexStamfordConnecticutNational
Goods & Services index126123100
Groceries index122125100
Health care index115117100
Housing index253144100
Transportation index100105100
Utilities index132130100
The above illustration supplies generalized information for the Stamford, CT cost of living index. Compared to other cities in Connecticut and cities across the country, the cost of living index in Stamford, CT is 161, which is 25% higher than the Connecticut average and 61% higher than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Stamford, CT are 2% higher than the average for Connecticut and 26% higher than the rest of the country.

Did you know?

  • The cost of living in Stamford is 25% higher than the Connecticut average.
  • The cost of living in Stamford is 61% higher than the national average.
  • The cost of housing in Stamford is 153% 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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Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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The salary calculator is meant to help you compare your salary in Stamford, CT to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Stamford, CT, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Stamford, CT salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$107,237$8,936$2,502$3,217
Renters$52,345$4,362$1,221$1,571
If you want to find a good determining factor for the cost of living and the general affordability of housing in Stamford, 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 Stamford, CT, the median monthly income is $107,237 for those who own their own homes. Under the standard rule, that income level would allow for $2,502 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $52,345, per the median income in the area. That would allow for renters to spend up to $1,221 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%
For those who live in Stamford, CT and want to know what the true cost of living is, they ought to look at both the Connecticut income tax rate and the Connecticut sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Connecticut, the sales tax is 6.35%, while the most you'll pay in surtax is 6.35%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Connecticut, the income tax rate ranges between 3% to 6.7%.

Goods & Services

ItemStamfordNational avg.Difference
Haircut $20.00$14.5937.0%
Beauty Salon $67.50$34.6894.6%
Toothpaste $4.04$2.4763.3%
Shampoo $0.88$1.0213.9%
Movie $14.75$9.8749.5%
Bowling $7.94$4.3980.8%

Groceries

ItemStamfordNational avg.Difference
Ground Beef $3.99$4.4810.9%
Fried Chicken $1.04$1.4629.0%
Milk $2.26$2.364.1%
Potatoes $3.92$3.0628.0%
Pizza $10.00$9.248.2%
Beer $9.82$8.6313.8%

Health Care

ItemStamfordNational avg.Difference
Optometrist $111.67$99.7811.9%
Doctor $123.75$105.0317.8%
Dentist $110.00$88.7024.0%
Ibuprofen $10.33$9.419.8%
Lipitor $299.00$298.500.2%

Housing

ItemStamfordNational avg.Difference
Home Price $506,000.00$175,700.00188.0%
Avg. Mortgage Payment $2,127.00$1,081.0396.8%
Apartment Rent $1,566.00$920.0070.2%

Transportation

ItemStamfordNational avg.Difference
Gasoline $2.06$2.091.5%
Tire Balancing $47.99$45.296.0%

Utilities

ItemStamfordNational avg.Difference
All Electricity$262.56$170.8053.7%
Phone $29.01$28.262.7%
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.
Greenville, NY5731044%
Hartsdale, NY5,34613636%
Fairview CDP (Westchester County), NY2,97814040%
Mount Vernon, NY67,96215353%
Wilton Center, CT67612727%
Stamford, CT125,40116161%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Charleston, SC125,45811212%
Hartford, CT125,21111313%
Coral Springs, FL125,15011616%
Simi Valley, CA125,69914545%
Concord, CA125,01714040%
Stamford, CT125,40116161%
Source: The Stamford, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.