Waterbury 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.
IndexWaterburyConnecticutNational
Cost of living index109128100
IndexWaterburyConnecticutNational
Goods & Services index122121100
Groceries index130128100
Health care index117117100
Housing index86144100
Transportation index107114100
Utilities index110116100
Displayed above is a general overview of the Waterbury, CT cost of living index. The overall cost of living index in Waterbury, CT is 109, which is 14% lower than the Connecticut average and 9% 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 Waterbury, CT are 1% higher than the Connecticut average and 22% higher than the national average.

Did you know?

  • The cost of living in Waterbury is 14% lower than the Connecticut average.
  • The cost of living in Waterbury is 9% higher than the national average.
  • The cost of housing in Waterbury is 14% lower 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

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Use the salary calculator to compare your current income in Waterbury, CT to any other city in the country. The calculator will tell you how much income you would need to make in a particular city to live at the same level based on the cost of living in each city. For example, if the cost of living in the city you are looking to move to is higher than that of Waterbury, CT, then you would need to earn a higher salary in order to enjoy the same standard of living. To use the Waterbury, CT salary calculator, enter the name of the new city, then move the slider to your current salary level. The salary calculator will do the rest and let you know if your salary would need to increase or decrease for the new city. You will also see a complete overview of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$62,072$5,173$1,448$1,862
Renters$24,478$2,040$571$734
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 Waterbury, 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. Waterbury, CT has a median income of about $62,072 for people who own homes. Based on that number, a person should spend a maximum of $1,448 on expenses related to housing. Renters have a slightly different median income, which is $24,478. Based on this average, renters should spend no more than $571 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%
For those who live in Waterbury, 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

ItemWaterburyNational avg.Difference
Haircut $19.74$15.5626.8%
Beauty Salon $55.02$36.1152.4%
Toothpaste $4.07$2.4764.6%
Shampoo $1.17$0.9620.9%
Movie $11.67$10.1315.2%
Bowling $7.30$4.7454.2%

Groceries

ItemWaterburyNational avg.Difference
Ground Beef $4.79$3.9820.2%
Fried Chicken $1.59$1.4113.2%
Milk $3.06$2.0648.4%
Potatoes $5.30$2.9877.8%
Pizza $9.95$9.475.0%
Beer $9.99$8.7913.6%

Health Care

ItemWaterburyNational avg.Difference
Optometrist $119.98$101.0418.7%
Doctor $129.20$107.4420.2%
Dentist $113.88$90.4226.0%
Ibuprofen $9.82$9.285.9%
Lipitor $422.35$426.501.0%

Housing

ItemWaterburyNational avg.Difference
Home Price $140,700.00$175,700.0019.9%
Avg. Mortgage Payment $1,491.42$1,133.2331.6%
Apartment Rent $904.00$920.001.7%

Transportation

ItemWaterburyNational avg.Difference
Gasoline $2.12$1.996.5%
Tire Balancing $49.98$45.769.2%

Utilities

ItemWaterburyNational avg.Difference
All Electricity$212.84$163.8129.9%
Phone $23.95$28.3915.6%
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.
New Britain, CT73,09511111%
Heritage Village, CT4,12611414%
Meriden, CT60,61611515%
Terryville, CT5,12111616%
Oakville, CT9,11811616%
Waterbury, CT109,8871099%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Arvada, CO109,80011111%
Manchester, NH110,06511919%
Wilmington, NC110,1001066%
Westminster, CO109,2961099%
Carlsbad, CA109,29616969%
Waterbury, CT109,8871099%
Source: The Waterbury, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.