New Milford, CT Cost Of Living
Cost Of Living In New Milford, CT Summary
Cost of living in New Milford 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 New Milford 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 New Milford is 117, with 100 being the average.
The cost of living index in New Milford is 1.2x higher than the national average.
New Milford ranks as the #37 cheapest in Connecticut out of 56.
New Milford ranks as the #4,212 cheapest out of 6,489 in the US.
The median home value in New Milford is $453,623.
The median income in New Milford is $81,170.
Table Of Contents
New Milford's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in New Milford, CT?
According to the most recent data on the cost of living, New Milford has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.
Compared to Connecticut, New Milford has a cost of living index that's 1.0x lower than Connecticut's index of 119.
The standard of living in New Milford ranks as #37 most affordable out of the 56 places we measured in Connecticut. By definition, that implies New Milford ranks as the #19 most expensive place in the Constitution State.
For more reading on life in New Milford, check out:
In Connecticut
In America
New Milford Cost Of Living Vs. Connecticut
Six factors go into calculating the cost of living index in New Milford. Here is how it fairs on each of the criteria:
The Services index in New Milford is 108.
The Groceries index in New Milford is 100.
The Health index in New Milford is 112.
The Housing index in New Milford is 136.
The Transportation index in New Milford is 105.
The Utilities index in New Milford is 135.
| Living Expense | New Milford | Connecticut | National Average | |
|---|---|---|---|---|
| Overall | 117 | 119 | 100 | |
| Services | 108 | 109 | 100 | |
| Groceries | 100 | 100 | 100 | |
| Health | 112 | 110 | 100 | |
| Housing | 136 | 137 | 100 | |
| Transportation | 105 | 101 | 100 | |
| Utilities | 135 | 131 | 100 | |
New Milford, CT Housing Cost Breakdown
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 2019-2023. The key points are:
The Median Home Value in New Milford is $453,623.
The Median Rent in New Milford is $1,422.
The Median Income in New Milford is $81,170.
The Home Value To Income in New Milford is 5.6x.
The Rent To Monthly Income in New Milford is 0.21x.
| Statistic | New Milford | Connecticut | United States |
|---|---|---|---|
| Median Home Value | $453,623 | $430,086 | $303,400 |
| Median Rent | $1,422 | $1,431 | $1,348 |
| Median Income | $81,170 | $93,760 | $78,538 |
| Home Value To Income | 5.6x | 4.6x | 3.9x |
| Rent To Monthly Income | 0.21x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
New Milford, CT Costs By Category
Detailed New Milford Services Costs Vs. Connecticut
| Item | New Milford | Connecticut |
|---|---|---|
| Shampoo | $1.47 | $1.28 |
| Movie | $15.07 | $12.13 |
| Bowling | $24.0 | $18 |
| Haircut | $39.78 | $24.26 |
| Beauty Salon | $69.0 | $45.56 |
Detailed New Milford Groceries Costs Vs. Connecticut
| Item | New Milford | Connecticut |
|---|---|---|
| Ground Beef | $6.28 | $5.84 |
| Fried Chicken | $1.59 | $1.57 |
| Milk | $4.83 | $4.67 |
| Potatoes | $5.03 | $4.93 |
| Pizza | $13.21 | $12.09 |
| Beer | $10.53 | $10.41 |
| Toothpaste | $3.86 | $3.7 |
Detailed New Milford Health Costs Vs. Connecticut
| Item | New Milford | Connecticut |
|---|---|---|
| Optometrist | $134.7 | $125.68 |
| Doctor | $162.26 | $135.78 |
| Dentist | $136.03 | $113.29 |
Detailed New Milford Transportation Costs Vs. Connecticut
| Item | New Milford | Connecticut |
|---|---|---|
| Gasoline | $3.47 | $3.46 |
| Tire Balancing | $63.33 | $59.92 |
Detailed New Milford Utilities Costs Vs. Connecticut
| Item | New Milford | Connecticut |
|---|---|---|
| All Electricity | $296.64 | $193.99 |
| Phone | $185.16 | $192.25 |
New Milford SnackAbility
/10
Cost Of Living In Cities Around New Milford
The cost of living varies in the cities and towns around New Milford. Here's a quick look at the cost of living in the most populous nearby places:
Danbury, CT has a cost of living index of 129, 1.1x New Milford.
Bethel, CT has a cost of living index of 125, 1.1x New Milford.
Oakville, CT has a cost of living index of 113, 1.0x New Milford.
| City | Population | Cost Of Living | Vs. New Milford |
|---|---|---|---|
| Danbury, CT | 86,086 | 129 | 1.1x |
| Bethel, CT | 11,606 | 125 | 1.1x |
| Oakville, CT | 9,233 | 113 | 1.0x |
| Lake Carmel, NY | 8,090 | 125 | 1.1x |
