Watertown, Connecticut Cost Of Living

Buy Rent

F

Overall 19%

Goods & Services 25%

Housing 15%

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	Watertown	Connecticut	National
Cost of living	119	124	100
Goods & Services	125	123	100
Groceries	109	108	100
Health care	113	112	100
Housing	115	137	100
Transportation	110	114	100
Utilities	142	129	100

Key findings

The cost of living in Watertown is 4% lower than the Connecticut average
The cost of living in Watertown is 19% higher than the national average
Watertown housing is 15% 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

Most Affordable Places to Live in and Around Watertown

See all the best places to live around Watertown

Compare Watertown, CT Cost of Living

See all Watertown poll results

The best places in Connecticut

Here are the best places to live in Connecticut

See the best places to live in & around Watertown

10 best cities to buy a new house in Connecticut

10 Best cities in Connecticut for employment

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

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$95,625	$7,969	$2,231	$2,869
Renters	$41,540	$3,462	$969	$1,246

A good indicator of the general affordability of housing in Watertown, CT, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Watertown, the median monthly income is $95,625 for those who own their own homes. Under the standard rule, that income level would allow for $2,231 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $41,540, per the median income in the area. That would allow for renters to spend up to $969 on monthly rental expenses.

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	Watertown	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	Watertown	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	Watertown	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	Watertown	National avg.	Difference
Home Price	$232,500.00	$184,700.00	25.9%
Avg. Mortgage Payment	$1,408.65	$1,273.32	10.6%
Apartment Rent	$837.00	$949.00	11.8%

Transportation

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

Utilities

Item	Watertown	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%
Watertown, CT	3,351	119	19%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Treasure Lake, PA	3,351	97	-3%
Lebanon, VA	3,351	88	-12%
Dover Base Housing, DE	3,352	120	20%
Barron, WI	3,349	87	-13%
Islandia, NY	3,349	138	38%
Watertown, CT	3,351	119	19%

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

Watertown, CT Cost of Living