| Index | Derby | Connecticut | National |
| Cost of living | 109 | 118 | 100 |
| Groceries | 103 | 106 | 100 |
| Health care | 108 | 111 | 100 |
| Housing | 112 | 139 | 100 |
| Transportation | 109 | 107 | 100 |
| Utilities | 108 | 108 | 100 |
| Lifestyle & Entertainment | 110 | 110 | 100 |
| Household Items | 107 | 106 | 100 |
| Education & Childcare | 113 | 116 | 100 |
Understanding the cost of living in Derby can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Derby cost of living index is 109, which is 9% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
In Derby, daily expenses such as food, housing, lifestyle expenses, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Derby will resemble that of an average city, contributing to a manageable cost of living.
Is Derby an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Derby, the median home price is 10.8% higher than what most folks pay across the country, and monthly rent prices are 16% higher than the usual rates. Income levels in Derby come in at $86,447, which is 6.3% higher than the national average.
Healthcare: Healthcare costs and insurance premiums can undergo substantial fluctuations based on the city or state of residence. Elements such as the availability of healthcare facilities, out-of-pocket costs for medical consultations, dental expenses, prescription medication charges and specialized medical care fees all contribute to variations in the cost of living. In Derby, healthcare costs are 8.4% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Derby, the standard sales tax rate starts at 6.35%, and the income tax rates commence at 3%.
Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Derby, the groceries index is 3.2% higher than the national average.
The Derby cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $119,423 | $9,952 | $2,786 | $3,583 |
| Renters | $49,662 | $4,139 | $1,159 | $1,490 |
| State | General Sales Tax | With Max Surtax |
| Connecticut | 6.35% | 6.35% |
| State | Income Tax (Low) | Income Tax (High) |
| Connecticut | 3% | 6.99% |
| City | Population | Cost of Living Index | National Avg. |
| Meriden, CT | 61,712 | 107 | 6.5% |
| Naugatuck, CT | 32,241 | 108 | 7.7% |
| Bridgeport, CT | 149,398 | 109 | 8.6% |
| Heritage Village, CT | 4,620 | 109 | 9.2% |
| West Haven, CT | 56,258 | 109 | 9.5% |
| Derby, CT | 12,684 | 109 | 9.1% |
| City | Population | Cost of Living Index | National Avg. |
| Belmont, NC | 12,690 | 107 | 7.2% |
| Woodward, OK | 12,677 | 90 | 10.4% |
| West Plains, MO | 12,673 | 84 | 16.2% |
| Northlake, IL | 12,696 | 102 | 1.7% |
| Minneola, FL | 12,664 | 118 | 18.0% |
| Derby, CT | 12,684 | 109 | 9.1% |
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