Winsted 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.
IndexWinstedConnecticutNational
Cost of living index112128100
IndexWinstedConnecticutNational
Goods & Services index120121100
Groceries index120128100
Health care index119117100
Housing index97144100
Transportation index122114100
Utilities index112116100
Here we can see a simple outline of the cost of living in Winsted, CT. As you can see, with the average cost of living in Winsted, CT being 112, that puts it 12% lower than the average of Connecticut and 12% 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 Winsted, CT, the price of goods and services are 1% lower than the average of Connecticut as well as 20% higher than the nation's average.

Did you know?

  • The cost of living in Winsted is 12% lower than the Connecticut average.
  • The cost of living in Winsted is 12% higher than the national average.
  • The cost of housing in Winsted is 3% 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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Compare Winsted, CT Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
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The salary calculator is meant to help you compare your salary in Winsted, 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 Winsted, CT, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Winsted, 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$68,272$5,689$1,593$2,048
Renters$32,298$2,692$754$969
One can approximate the cost of living and the housing affordability in Winsted, CT by the percentage of a person’s income that he or she spends on the monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side and keep one’s head above the water, a consumer should never spend more than 28 percent of his or her gross income on housing-related expenses and costs and not more than 36 percent of income on all expenses and debts. Homeowners in Winsted, CT have a median income of $68,272. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,593 per month to avoid calamity and poverty. The renters in the city have an income of about $32,298, which would make their monthly maximum allowable rental costs $754.

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 you are determining the total cost of living in Winsted, CT you will want to make sure you consider both the Connecticut sales tax and the Connecticut income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Connecticut is 6.35%, with the highest surtax being 6.35%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Connecticut have a range from 3% to 6.7%.

Goods & Services

ItemWinstedNational avg.Difference
Haircut $19.50$15.5625.3%
Beauty Salon $49.55$36.1137.2%
Toothpaste $3.49$2.4741.2%
Shampoo $1.12$0.9616.4%
Movie $9.95$10.131.8%
Bowling $7.17$4.7451.4%

Groceries

ItemWinstedNational avg.Difference
Ground Beef $6.26$3.9857.0%
Fried Chicken $1.67$1.4118.9%
Milk $2.51$2.0621.5%
Potatoes $4.16$2.9839.6%
Pizza $10.00$9.475.6%
Beer $9.82$8.7911.7%

Health Care

ItemWinstedNational avg.Difference
Optometrist $119.91$101.0418.7%
Doctor $124.96$107.4416.3%
Dentist $124.36$90.4237.5%
Ibuprofen $11.99$9.2829.2%
Lipitor $356.99$426.5016.3%

Housing

ItemWinstedNational avg.Difference
Home Price $169,000.00$175,700.003.8%
Avg. Mortgage Payment $1,486.15$1,133.2331.1%
Apartment Rent $922.00$920.000.2%

Transportation

ItemWinstedNational avg.Difference
Gasoline $2.39$1.9919.7%
Tire Balancing $58.58$45.7628.0%

Utilities

ItemWinstedNational avg.Difference
All Electricity$212.66$163.8129.8%
Phone $24.95$28.3912.1%
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.
Torrington, CT35,77411212%
New Hartford Center, CT1,50911515%
Canaan, CT1,17811010%
Norfolk, CT66611717%
Bantam, CT75111818%
Winsted, CT7,87611212%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bloomfield, NM7,87789-11%
York, NE7,87882-18%
Helotes, TX7,8801077%
Cushing, OK7,87077-23%
Wesley Chapel, NC7,88211818%
Winsted, CT7,87611212%
Source: The Winsted, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.