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.
Here we can see a simple outline of the cost of living in Byram, CT. As you can see, with the average cost of living in Byram, CT being 170, that puts it 41% higher than the average of Connecticut and 70% 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 Byram, CT, the price of goods and services are 1% higher than the average of Connecticut as well as 22% higher than the nation's average.
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The cost of living in Byram is 41% higher than the Connecticut average.
The cost of living in Byram is 70% higher than the national average.
The cost of housing in Byram is 194% 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.
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator allows you to compare how much your current salary in Byram, 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 Byram, CT, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Byram, 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
Max Budget (28% DTI)
Max Budget (36% DTI)
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 Byram, 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. Byram, CT has a median income of about $120,298 for people who own homes. Based on that number, a person should spend a maximum of $2,807 on expenses related to housing. Renters have a slightly different median income, which is $70,848. Based on this average, renters should spend no more than $1,653 on all of their rental costs if they want to maintain a non-impoverished standard of living.
Connecticut Sales Tax
General Sales Tax
With Max Surtax
Connecticut Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Byram, 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 6.99% in Connecticut.
Goods & Services
Avg. Mortgage Payment
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.