Cost of living in Groton 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 Groton 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 Groton is 112, with 100 being the average.
The cost of living index in Groton is 1.1x higher than the national average.
Groton ranks as the #19 cheapest in Connecticut out of 55.
Groton ranks as the #4,296 cheapest out of 6,412 in the US.
The median home value in Groton is $223,200.
The median income in Groton is $58,911.
According to the most recent data on the cost of living, Groton has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to Connecticut, Groton has a cost of living index that's 1.0x lower than Connecticut's index of 114.
The standard of living in Groton ranks as #19 most affordable out of the 55 places we measured in Connecticut. By definition, that implies Groton ranks as the #36 most expensive place in the Constitution State.
For more reading on life in Groton, check out:
Six factors go into calculating the cost of living index in Groton. Here is how it fairs on each of the criteria:
The Services index in Groton is 120.
The Groceries index in Groton is 103.
The Health index in Groton is 108.
The Housing index in Groton is 104.
The Transportation index in Groton is 108.
The Utilities index in Groton is 125.
|Living Expense||Groton||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 Groton is $223,200.
The Median Rent in Groton is $1,007.
The Median Income in Groton is $58,911.
The Home Value To Income in Groton is 3.8x.
The Rent To Monthly Income in Groton is 0.21x.
|Median Home Value||$223,200||$286,700||$244,900|
|Home Value To Income||3.8x||3.4x||3.5x|
|Rent To Monthly Income||0.21x||0.18x||0.2x|