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Everyone wants a home that mixes affordability with comfort and Connecticut does this very well. Families love the Constitution State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Connecticut that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Connecticut for 2020.
So where is the most expensive place to live in Connecticut? That would be Stamford.
the 2014-2018 American Community Survey for the 21 places in Connecticut with more than 9,000 people.
What's the most expensive place to live in Connecticut? Well, HomeSnacks crunched the numbers and discovered that Stamford is the most expensive place to live in Connecticut.
So hopefully Torrington (the cheapest place to live in Connecticut) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Connecticut and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Connecticut For 2020
Stamford is a city in Fairfield County, Connecticut, United States. According to the 2010 census, the population of the city is 122,643. As of July 1, 2014, according to the Census Bureau, the population of Stamford had risen to 128,278, making it the third-largest city in the state and the seventh-largest city in New England. Approximately 30 miles from Manhattan, Stamford is in the Bridgeport-Stamford-Norwalk Metro area which is a part of the Greater New York metropolitan area.
The median income in Stamford comes in at $89,309 and the median home value is $526,700 for 2020.
New Haven, in the U.S. state of Connecticut, is the principal municipality in Greater New Haven, which had a total population of 862,477 in 2010. It is located on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut, and is part of the New York metropolitan area. It is the second-largest city in Connecticut, with a population of 129,779 people as of the 2010 United States Census. According to a census of 1 July 2012, by the Census Bureau, the city had a population of 130,741.
The median income in New Haven comes in at $41,142 and the median home value is $196,600 for 2020.
Norwalk, is a U.S city located in southwestern Connecticut, in southern Fairfield County, on the northern shore of Long Island Sound. Norwalk is included statistically within both the New York-Newark, NY-NJ-CT-PA Combined Statistical Area as well as the Bridgeport-Stamford-Norwalk, CT Metropolitan Statistical Area.
The median income in Norwalk comes in at $82,474 and the median home value is $427,300 for 2020.
Danbury is a city in northern Fairfield County, Connecticut, United States, located along the Still River approximately 70 miles northeast of New York's city center. Danbury's population at the 2010 census was 80,893. Danbury is the fourth most populous city in Fairfield County, and seventh among Connecticut cities. The city is within the New York combined statistical area and Bridgeport metropolitan area.
The median income in Danbury comes in at $71,672 and the median home value is $296,600 for 2020.
New London is a seaport city and a port of entry on the northeast coast of the United States. It is located at the mouth of the Thames River in New London County, Southeastern Connecticut.
The median income in New London comes in at $39,675 and the median home value is $181,300 for 2020.
Ansonia is a city in New Haven County, Connecticut, United States, on the Naugatuck River, immediately north of Derby, and about 12 miles northwest of New Haven. The population was 19,249 at the 2010 census. The ZIP code for Ansonia is 06401. The city is served by the Metro-North Railroad. Ansonia Station is a stop on the railroad passenger commuter service's Waterbury line, connecting to New York's Grand Central Terminal. Ansonia also is served by the Connecticut Transit bus carrier. Connecticut Route 8 serves Ansonia.
The median income in Ansonia comes in at $53,540 and the median home value is $211,100 for 2020.
Hartford is the capital of the U.S. state of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. As of the 2010 Census, Hartford's population was 124,775, making it Connecticut's third-largest city after the coastal cities of Bridgeport and New Haven. Census Bureau estimates since then have indicated Hartford's fall to fourth place statewide, as a result of sustained population growth in the coastal city of Stamford.
The median income in Hartford comes in at $34,338 and the median home value is $162,800 for 2020.
Bridgeport is a seaport city in the U.S. state of Connecticut. It is the largest city in the state and is located in Fairfield County at the mouth of the Pequonnock River on Long Island Sound. Bridgeport had a population of 144,229 during the 2010 Census, making it also the 5th-most populous in New England. It is bordered by the towns of Trumbull to the north, Fairfield to the west, and Stratford to the east. The Greater Bridgeport area is the 48th-largest urban area in the United States. Located 60 miles from Manhattan and 40 miles from the Bronx, Bridgeport is also part of the New York metropolitan area.
The median income in Bridgeport comes in at $45,441 and the median home value is $173,100 for 2020.
Groton is a town located on the Thames River in New London County, Connecticut, United States. The population was 40,115 at the 2010 census.
The median income in Groton comes in at $53,750 and the median home value is $207,900 for 2020.
Shelton is a city in Fairfield County, Connecticut, United States. The population was 39,559 at the 2010 census.
The median income in Shelton comes in at $94,446 and the median home value is $345,200 for 2020.
How We Determined The Most Expensive Places To Live In The Constitution State For 2020
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it's actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2014-2018 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Connecticut to figure out which is the most expensive.
What you are left with is a "Cost of Living Index" by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 21 places in Connecticut that have more than 9,000 people.
The place with the highest cost of living in Connecticut according to the data is Stamford. You can download the data here.
Taking A Chunk Out Of Your Paycheck In Connecticut For 2020
Well there you have it, the places in Connecticut that have the highest cost of living, with Stamford ranking as the most expensive city in the Constitution State.
Here's a look at the most affordable cities in Connecticut according to the data:
For more Connecticut reading, check out:
- 10 Best Places To Live In Connecticut
- 10 Cheapest Places To Live In Connecticut
- 10 Best Places To Raise A Family In Connecticut
- These Are The 10 Best Places To Retire In Connecticut
- These Are The 10 Richest Cities In Connecticut
- 10 Safest Places In Connecticut
Detailed List Of The Most Expensive Cities In Connecticut