Cost of living in Derby research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Derby is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Connecticut, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Derby is 115, with 100 being the average.
The cost of living index in Derby is 1.1x higher than the national average.
Derby ranks as the #26 cheapest in Connecticut out of 55.
Derby ranks as the #4,492 cheapest out of 6,412 in the US.
The median home value in Derby is $212,900.
The median income in Derby is $64,494.
According to the most recent data on the cost of living, Derby has an overall cost of living index of 115, which is 1.1x higher than the national index of 100.
Compared to Connecticut, Derby has a cost of living index that's 1.0x higher than Connecticut's index of 114.
The standard of living in Derby ranks as #26 most affordable out of the 55 places we measured in Connecticut. By definition, that implies Derby ranks as the #29 most expensive place in the Constitution State.
For more reading on life in Derby, check out:
Six factors go into calculating the cost of living index in Derby. Here is how it fairs on each of the criteria:
The Services index in Derby is 115.
The Groceries index in Derby is 107.
The Health index in Derby is 108.
The Housing index in Derby is 111.
The Transportation index in Derby is 108.
The Utilities index in Derby is 146.
|Living Expense||Derby||Connecticut||National Average|
Housing swings affordability the most between places in Connecticut, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Derby is $212,900.
The Median Rent in Derby is $1,202.
The Median Income in Derby is $64,494.
The Home Value To Income in Derby is 3.3x.
The Rent To Monthly Income in Derby is 0.22x.
|Median Home Value||$212,900||$286,700||$244,900|
|Home Value To Income||3.3x||3.4x||3.5x|
|Rent To Monthly Income||0.22x||0.18x||0.2x|
The cost of living varies in the cities and towns around Derby. Here's a quick look at the cost of living in the most populous nearby places:
Bridgeport, CT has a cost of living index of 111, 1.0x Derby.
New Haven, CT has a cost of living index of 114, 1.0x Derby.
West Haven, CT has a cost of living index of 112, 1.0x Derby.
|City||Population||Cost Of Living||Vs. Derby|
|New Haven, CT||133,874||114||1.0x|
|West Haven, CT||55,518||112||1.0x|
|North Haven, CT||24,217||128||1.1x|