Oakville, Connecticut Cost Of Living

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F

Overall 16%

Goods & Services 25%

Housing 4%

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	Oakville	Connecticut	National
Cost of living	116	124	100
Goods & Services	125	123	100
Groceries	109	108	100
Health care	113	112	100
Housing	104	137	100
Transportation	110	114	100
Utilities	142	129	100

Key findings

The cost of living in Oakville is 7% lower than the Connecticut average
The cost of living in Oakville is 16% higher than the national average
Oakville housing is 4% 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	$77,313	$6,443	$1,804	$2,320
Renters	$40,536	$3,378	$946	$1,216

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Oakville, CT, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Oakville, homeowners have a median income of $77,313. Using that number, a maximum of $1,804 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $40,536, which means there is a maximum of $946 to be spent on the costs of renting a home or apartment.

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	Oakville	National avg.	Difference
Haircut	$27.40	$17.49	56.7%
Beauty Salon	$53.80	$38.17	40.9%
Toothpaste	$1.75	$2.32	24.6%
Shampoo	$0.97	$1.01	4.1%
Movie	$12.70	$10.72	18.4%
Bowling	$19.20	$13.86	38.5%

Groceries

Item	Oakville	National avg.	Difference
Ground Beef	$3.99	$3.90	2.3%
Fried Chicken	$1.68	$1.40	20.4%
Milk	$2.51	$1.96	27.9%
Potatoes	$3.99	$3.18	25.4%
Pizza	$9.39	$10.39	9.7%
Beer	$9.99	$9.23	8.2%

Health Care

Item	Oakville	National avg.	Difference
Optometrist	$114.60	$106.34	7.8%
Doctor	$131.60	$115.25	14.2%
Dentist	$116.80	$98.38	18.7%
Ibuprofen	$9.09	$9.26	1.8%
Lipitor	$521.84	$466.47	11.9%

Housing

Item	Oakville	National avg.	Difference
Home Price	$196,600.00	$184,700.00	6.4%
Avg. Mortgage Payment	$1,408.65	$1,273.32	10.6%
Apartment Rent	$946.00	$949.00	0.3%

Transportation

Item	Oakville	National avg.	Difference
Gasoline	$2.84	$2.59	9.6%
Tire Balancing	$55.94	$48.90	14.4%

Utilities

Item	Oakville	National avg.	Difference
All Electricity	$299.32	$167.60	78.6%
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.
Waterbury, CT	109,211	108	8%
Torrington, CT	35,227	108	8%
Thomaston, CT	1,803	110	10%
Naugatuck, CT	31,625	114	14%
Bristol, CT	60,437	111	11%
Oakville, CT	9,133	116	16%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Milford, NH	9,136	111	11%
Shawano, WI	9,130	83	-17%
Leonia, NJ	9,137	145	45%
Taft, CA	9,128	106	6%
Box Elder, SD	9,126	93	-7%
Oakville, CT	9,133	116	16%

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

Oakville, CT Cost of Living

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