Ridgefield cost of living index

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.
IndexRidgefieldConnecticutNational
Cost of living index171120100
IndexRidgefieldConnecticutNational
Goods & Services index122120100
Groceries index109105100
Health care index114114100
Housing index300137100
Transportation index115112100
Utilities index112103100
An overview of the general cost of living index for Ridgefield, CT is displayed above for your reference. Residents in Ridgefield, CT enjoy a cost of living index of 171. This index is 43% higher than the Connecticut average, and 71% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Ridgefield, CT, the average cost of goods and services is 1% higher than it is in Connecticut, and it is 22% higher than the national average.

Find Real Estate Listings In Ridgefield

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Ridgefield

How would you rate the cost of living in Ridgefield?View resultsWrite a review to give others more information about this area.
Is the cost of living increasing or decreasing in Ridgefield?View resultsWrite a review to give others more information about this area.

Did you know?

  • The cost of living in Ridgefield is 43% higher than the Connecticut average.
  • The cost of living in Ridgefield is 71% higher than the national average.
  • The cost of housing in Ridgefield is 200% 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.

Real Estate Listings In Ridgefield

Compare Ridgefield, CT Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Ridgefield, CT to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Ridgefield, CT, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Ridgefield, CT salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$149,688$12,474$3,492$4,491
Renters$47,208$3,934$1,101$1,416
The affordability of the housing market in Ridgefield, CT as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Ridgefield, CT homeowners, the median income is $149,688. This indicates that a monthly maximum of $3,492 should be spent by homeowners on all housing related costs. Renters have a median income of $47,208. This indicates that renters should have a maximum of $1,101 used for their rent related monthly costs.

Connecticut Sales Tax

StateGeneral Sales TaxWith Max Surtax
Connecticut6.35%6.35%

Connecticut Income Tax

StateIncome Tax (Low)Income Tax (High)
Connecticut3%6.99%
When assessing the complete cost of living in Ridgefield, 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

ItemRidgefieldNational avg.Difference
Haircut $19.87$16.0923.6%
Beauty Salon $64.81$37.3373.6%
Toothpaste $3.03$2.4523.8%
Shampoo $0.99$1.000.6%
Movie $12.69$10.2823.4%
Bowling $7.03$4.9342.5%

Groceries

ItemRidgefieldNational avg.Difference
Ground Beef $4.10$3.807.7%
Fried Chicken $1.44$1.403.3%
Milk $1.96$2.012.6%
Potatoes $3.47$3.0115.4%
Pizza $9.98$9.890.9%
Beer $10.01$8.9012.6%

Health Care

ItemRidgefieldNational avg.Difference
Optometrist $115.59$102.1613.2%
Doctor $124.71$108.3615.1%
Dentist $112.48$92.5321.6%
Ibuprofen $10.51$9.2813.3%
Lipitor $413.07$425.823.0%

Housing

ItemRidgefieldNational avg.Difference
Home Price $657,500.00$184,700.00256.0%
Avg. Mortgage Payment $2,408.75$1,202.44100.3%
Apartment Rent $1,606.00$949.0069.2%

Transportation

ItemRidgefieldNational avg.Difference
Gasoline $2.55$2.2413.7%
Tire Balancing $54.89$46.2918.6%

Utilities

ItemRidgefieldNational avg.Difference
All Electricity$200.20$165.9620.6%
Phone $29.17$28.681.7%
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, StatePopulationCost of Living IndexNational Avg.
Cannondale, CT9211616%
Copake Hamlet, NY1611099%
Heritage Village, CT3,87511010%
Brewster, NY2,29412020%
Putnam Lake, NY3,66612222%
Ridgefield, CT7,55217171%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Rhinelander, WI7,55283-17%
Kenai, AK7,55111717%
Corona de Tucson, AZ7,5501044%
Brighton, MI7,55097-3%
Mukwonago, WI7,5491011%
Ridgefield, CT7,55217171%
Source: The Ridgefield, CT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.