B-
3%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
6%
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 New Britain Connecticut National
Cost of living103118100
Goods & Services108109100
Groceries101102100
Health care103109100
Housing94137100
Transportation96100100
Utilities127130100

An Overview of Cost of Living in New Britain, CT

Knowing the cost of living in New Britain allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in New Britain stands at 103, marking it 3% higher than the national average.

The cost of living in New Britain closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of New Britain can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in New Britain?

When it comes to knowing a city, its residents are the experts. We conducted a survey with 12 locals to understand their opinions on the cost of living in New Britain. The results indicated that 67% found it reasonably priced with decreasing prices of goods and services, while 33% viewed it as quite expensive, with increasing prices.

Is New Britain Affordable?

Is New Britain affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take New Britain, for instance, where the median home price falls 12.3% lower than the national average, and monthly rent rates are 8.5% higher than usual. Additionally, median income levels contribute to the equation, with New Britain flaunting a median household income of $47,393, 14.3% lower than the national norm.

What Factors can Influence the Cost of Living in New Britain?

Urbanization: Larger, urban hubs brimming with ample amenities and robust employment opportunities often showcase a heightened cost of living. This surge is primarily attributed to the amplified demand for services and increased residential migration, culminating in elevated home prices and elevated rental rates. Conversely, less densely populated rural locales or regions characterized by reduced demand tend to offer a more limited array of amenities and undergo slower job market growth, ultimately yielding a more affordable cost of living.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In New Britain, the transportation index is 3.7% lower than the national average.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In New Britain, the groceries index is 0.7% higher than the national average.

Where is the Data From?

The New Britain cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in New Britain is 12% lower than the Connecticut average
  • The cost of living in New Britain is 3% higher than the national average
  • New Britain housing is 6% lower 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 New Britain

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Compare New Britain, 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$77,194$6,433$1,801$2,316
      Renters$33,898$2,825$791$1,017
      To approximate the cost of living and the housing affordability in New Britain, CT, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in New Britain have a median income of $77,194. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,801 per month to avoid calamity and poverty. The renters in the city have an income of about $33,898, which would make their monthly maximum allowable rental costs $791.

      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 New Britain National avg. Difference
      Haircut $33.78$24.2639.2%
      Beauty Salon $58.55$45.5628.5%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.42$1.2810.9%
      Movie $12.85$12.135.9%
      Bowling $18.33$18.001.9%

      Groceries

      Item New Britain National avg. Difference
      Ground Beef $6.23$5.846.7%
      Fried Chicken $1.46$1.577.4%
      Milk $4.73$4.671.2%
      Potatoes $4.96$4.930.6%
      Pizza $10.79$12.0910.7%
      Beer $10.49$10.410.8%

      Health Care

      Item New Britain National avg. Difference
      Optometrist $166.22$125.6832.3%
      Doctor $182.50$135.7834.4%
      Dentist $127.00$113.2912.1%
      Ibuprofen $10.89$10.652.2%
      Lipitor $384.88$468.6017.9%

      Housing

      Item New Britain National avg. Difference
      Home Price $161,900.00$184,700.0012.3%
      Avg. Mortgage Payment $2,110.08$2,346.6910.1%
      Apartment Rent $1,030.00$949.008.5%

      Transportation

      Item New Britain National avg. Difference
      Gasoline $3.34$3.463.4%
      Tire Balancing $71.63$59.9219.5%

      Utilities

      Item New Britain National avg. Difference
      All Electricity $302.09$193.9955.7%
      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.
      Waterbury, CT107,8411011.1%
      Blue Hills, CT2,6001022.0%
      Hartford, CT122,5491043.9%
      East Hartford, CT50,0361044.2%
      Meriden, CT59,5121044.4%
      New Britain, CT72,5431033.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lafayette, IN72,556918.8%
      Albany, GA72,6348514.7%
      Waukesha, WI72,4191055.2%
      Kissimmee, FL72,4101022.2%
      Turlock, CA72,71512626.0%
      New Britain, CT72,5431033.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.