Bristol cost of living index

A general overview of the cost of living index for Bristol, CT is displayed above. In Bristol, CT, the overall cost of living index is 108, which is 10% lower than the Connecticut average and 8% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Bristol, CT, the city's goods and services are 2% lower than the Connecticut average and 18% higher than the U.S. average.

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Salary Calculator

Use the salary calculator to compare your current salary in Bristol, CT to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Bristol, CT, then you would need to earn more income in order to maintain the same standard of living. To use the Bristol, CT salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

One can approximate the cost of living and the housing affordability in Bristol, 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 Bristol, CT have a median income of $81,374. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,899 per month to avoid calamity and poverty. The renters in the city have an income of about $32,906, which would make their monthly maximum allowable rental costs $768.

Connecticut Sales Tax

Connecticut Income Tax

The Connecticut sales tax and Connecticut income tax rates should definitely be considered when determining the overall cost of living in Bristol, CT. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Connecticut sales tax is 6.35% and the maximum surtax is 6.35%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Connecticut income tax rates range from 3% to 6.99%.

Goods & Services

Groceries

Health Care

Housing

Transportation

Utilities

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.

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Source: The Bristol, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.