Cost of Living in New Milford, CT

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C-
17%
Overall NAT. AVG.
7%
Groceries NAT. AVG.
38%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index New Milford Connecticut National
Cost of living117118100
Groceries107106100
Health care111111100
Housing138139100
Transportation105107100
Utilities112108100
Lifestyle & Entertainment110110100
Household Items107106100
Education & Childcare112116100
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Homes For Sale In New Milford, CT

property for sale

39 Sullivan Rd

New Milford, CT
property for sale

7 Saddle Ridge Rd

New Milford, CT
property for sale

329 Kent Rd

New Milford, CT
property for sale

123 Mine Hill Rd

New Milford, CT

Cost Of Living Quick Facts

  • The cost of living in New Milford is equal to the Connecticut average
  • The cost of living in New Milford is 17% higher than the national average
  • New Milford housing is 38% higher than the national average
  • Connecticut general sales tax is 24% higher than the national average
  • Connecticut state income tax is 16% higher than the national average

Most Affordable Places to Live in and Around New Milford

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      Salary Calculator

      This is how much you would need to earn in
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      Cost of living index
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      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
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      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$127,360$10,613$2,972$3,821
      Renters$66,044$5,504$1,541$1,982
      A good way to judge both the affordability of the housing and the cost of living in New Milford 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. New Milford has a median income of about $127,360 for people who own homes. Based on that number, a maximum of $2,972 should be spent on expenses related to housing. Renters have a slightly different median income, which is $66,044. Based on this average, renters should spend no more than $1,541 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%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Watchtower, NY2,1761098.6%
      Bantam, CT6181011.0%
      Torrington, CT35,5431022.3%
      Copake Hamlet, NY1641043.8%
      Dover Plains, NY1,0871043.9%
      New Milford, CT6,90111717.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Roeland Park, KS6,9011021.6%
      Normandy Park, WA6,89917372.7%
      Tallulah, LA6,8968217.6%
      Lionville, PA6,90612323.5%
      South Run, VA6,90719797.2%
      New Milford, CT6,90111717.4%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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