Cos Cob, Connecticut Cost Of Living

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F

Overall 114%

Goods & Services 23%

Housing 334%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Cos Cob	Connecticut	National
Cost of living	214	124	100
Goods & Services	123	123	100
Groceries	110	108	100
Health care	117	112	100
Housing	434	137	100
Transportation	124	114	100
Utilities	123	129	100

Key findings

The cost of living in Cos Cob is 72% higher than the Connecticut average
The cost of living in Cos Cob is 114% higher than the national average
Cos Cob housing is 334% higher than the national average
Connecticut general sales tax is 25% higher than the national average
Connecticut state income tax is 22% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$133,611	$11,134	$3,117	$4,009
Renters	$129,125	$10,760	$3,013	$3,874

A good way to judge both the affordability of the housing and the cost of living in Cos Cob is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Cos Cob has a median income of about $133,611 for people who own homes. Based on that number, a maximum of $3,117 should be spent on expenses related to housing. Renters have a slightly different median income, which is $129,125. Based on this average, renters should spend no more than $3,013 on all rental costs if they want to maintain a non-impoverished standard of living.

Connecticut Sales Tax

State	General Sales Tax	With Max Surtax
Connecticut	6.35%	6.35%

Connecticut Income Tax

State	Income Tax (Low)	Income Tax (High)
Connecticut	3%	6.99%

Goods & Services

Item	Cos Cob	National avg.	Difference
Haircut	$30.60	$17.49	75.0%
Beauty Salon	$59.00	$38.17	54.6%
Toothpaste	$2.05	$2.32	11.7%
Shampoo	$0.96	$1.01	5.1%
Movie	$13.90	$10.72	29.6%
Bowling	$17.00	$13.86	22.6%

Groceries

Item	Cos Cob	National avg.	Difference
Ground Beef	$4.57	$3.90	17.2%
Fried Chicken	$1.89	$1.40	35.4%
Milk	$2.15	$1.96	9.6%
Potatoes	$3.99	$3.18	25.4%
Pizza	$9.39	$10.39	9.7%
Beer	$9.89	$9.23	7.2%

Health Care

Item	Cos Cob	National avg.	Difference
Optometrist	$133.00	$106.34	25.1%
Doctor	$128.00	$115.25	11.1%
Dentist	$131.00	$98.38	33.2%
Ibuprofen	$7.95	$9.26	14.2%
Lipitor	$511.40	$466.47	9.6%

Housing

Item	Cos Cob	National avg.	Difference
Home Price	$990,100.00	$184,700.00	436.1%
Avg. Mortgage Payment	$2,098.87	$1,273.32	64.8%
Apartment Rent	$1,852.00	$949.00	95.2%

Transportation

Item	Cos Cob	National avg.	Difference
Gasoline	$2.98	$2.59	14.9%
Tire Balancing	$69.96	$48.90	43.1%

Utilities

Item	Cos Cob	National avg.	Difference
All Electricity	$242.33	$167.60	44.6%
Phone	$174.02	$163.42	6.5%

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, State	Population	Cost of Living Index	National Avg.
Cannondale, CT	92	120	20%
Greenville CDP (Greene County), NY	604	105	5%
Hartsdale, NY	5,414	131	31%
Mount Vernon, NY	68,217	130	30%
Yonkers, NY	199,725	132	32%
Cos Cob, CT	6,535	214	114%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Parkwood, WA	6,535	123	23%
Clarkston Heights-Vineland, WA	6,531	105	5%
Aquia Harbour, VA	6,530	132	32%
Brier, WA	6,530	149	49%
South Run, VA	6,529	192	92%
Cos Cob, CT	6,535	214	114%

Source: The Cos Cob, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Cos Cob, CT Cost of Living