F
28%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
65%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Danbury Connecticut National
Cost of living128118100
Goods & Services113109100
Groceries105102100
Health care110109100
Housing165137100
Transportation102100100
Utilities131130100

An Overview of Cost of Living in Danbury, CT

Understanding the cost of living in Danbury can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Danbury cost of living index is 128, which is 28% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

If you're in pursuit of an economical living environment, Danbury may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Danbury falls within this bracket.

Housing costs are a major factor in the Danbury cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 64.6% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Recurring goods and services expenses like haircuts, toothpaste, gym memberships and movie nights are a big part of your spending and make up 33% of the cost of living index. In Danbury, these items will cost you 12.9% more than what most folks pay, making it a bit more expensive to live here.

What Do Locals Say About the Cost of Living in Danbury?

The most insightful perspective on a city comes from its residents. We recently surveyed 6 locals to gauge their perception of the cost of living in Danbury. The feedback revealed that 50% of respondents found the cost of living to be reasonable, with prices on the decline, while 50% regarded it as notably expensive with prices that continue to rise.

Is Danbury Affordable?

Is Danbury affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Danbury, the median home price is 68.5% higher than the national average and monthly rent prices are 55.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Danbury boasting a median household income of $73,204, 32.3% higher than the national average.

What Factors can Influence the Cost of Living in Danbury?

Subsidies: Some areas might offer government subsidies or assistance programs that help lower cost of living for residents. These programs can include anything from Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and crop subsidies. Areas that offer less subsidies, could see an increase in their cost of living.

Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Danbury, healthcare costs are 9.9% higher than the national average.

Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Danbury, the groceries index is 5.4% higher than the national average.

Where is the Data From?

The Danbury cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Danbury is 9% higher than the Connecticut average
  • The cost of living in Danbury is 28% higher than the national average
  • Danbury housing is 65% higher than the national average
  • Connecticut general sales tax is 24% higher than the national average
  • Connecticut state income tax is 16% higher than the national average

Most Affordable Places to Live in and Around Danbury

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Compare Danbury, CT Cost of Living

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      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$95,981$7,998$2,239$2,880
      Renters$55,152$4,596$1,287$1,655
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Danbury, CT, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Danbury, homeowners have a median income of $95,981. Using that number, a maximum of $2,239 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $55,152, which means there is a maximum of $1,287 to be spent on the costs of renting a home or apartment.

      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 Danbury National avg. Difference
      Haircut $32.33$24.2633.3%
      Beauty Salon $48.56$45.566.6%
      Toothpaste $3.66$3.701.1%
      Shampoo $1.50$1.2817.4%
      Movie $13.76$12.1313.4%
      Bowling $19.63$18.009.0%

      Groceries

      Item Danbury National avg. Difference
      Ground Beef $6.34$5.848.6%
      Fried Chicken $1.61$1.572.4%
      Milk $4.73$4.671.2%
      Potatoes $5.03$4.931.9%
      Pizza $10.07$12.0916.7%
      Beer $10.62$10.412.0%

      Health Care

      Item Danbury National avg. Difference
      Optometrist $140.10$125.6811.5%
      Doctor $143.23$135.785.5%
      Dentist $123.00$113.298.6%
      Ibuprofen $11.00$10.653.3%
      Lipitor $401.34$468.6014.4%

      Housing

      Item Danbury National avg. Difference
      Home Price $311,200.00$184,700.0068.5%
      Avg. Mortgage Payment $1,857.27$2,346.6920.9%
      Apartment Rent $1,475.00$949.0055.4%

      Transportation

      Item Danbury National avg. Difference
      Gasoline $3.33$3.463.7%
      Tire Balancing $57.68$59.923.7%

      Utilities

      Item Danbury National avg. Difference
      All Electricity $281.67$193.9945.2%
      Phone $185.16$192.253.7%
      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 Population Cost of Living Index National Avg.
      Watchtower, NY2,09211212.4%
      Cannondale, CT44011212.4%
      Copake Hamlet, NY1611066.1%
      Bridgeport, CT145,0141098.9%
      Heritage Village, CT4,46511010.1%
      Danbury, CT84,65012828.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lake Forest, CA84,66617575.2%
      Largo, FL84,666936.6%
      New Braunfels, TX84,6221065.6%
      Hemet, CA84,68611312.6%
      Bloomington, IN84,6911033.4%
      Danbury, CT84,65012828.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.