D-
16%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
35%
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 Storrs Connecticut National
Cost of living116118100
Goods & Services108109100
Groceries101102100
Health care103109100
Housing135137100
Transportation96100100
Utilities127130100

An Overview of Cost of Living in Storrs, CT

Knowing the cost of living in Storrs 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 Storrs stands at 116, marking it 16% higher than the national average.

Housing costs are a major factor in the Storrs 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 35.3% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Storrs Affordable?

Is Storrs an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Storrs, the median home price is 28.2% higher than what most folks pay across the country, and monthly rent prices are 51.9% higher than the usual rates. Income levels in Storrs come in at $25,586, which is 53.8% lower than the national average.

What Factors can Influence the Cost of Living in Storrs?

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including 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 farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Storrs, the housing index is 35.3% higher than the national average.

Where is the Data From?

The Storrs 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 Storrs is 2% lower than the Connecticut average
  • The cost of living in Storrs is 16% higher than the national average
  • Storrs housing is 35% 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 Storrs

See all the best places to live around Storrs

Compare Storrs, 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$115,662$9,639$2,699$3,470
      Renters$18,750$1,563$437$563
      A good indicator of the general affordability of housing in Storrs, CT, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Storrs, the median monthly income is $115,662 for those who own their own homes. Under the standard rule, that income level would allow for $2,699 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $18,750, per the median income in the area. That would allow for renters to spend up to $437 on monthly rental expenses.

      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 Storrs 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 Storrs 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 Storrs 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 Storrs National avg. Difference
      Home Price $236,800.00$184,700.0028.2%
      Avg. Mortgage Payment $2,110.08$2,346.6910.1%
      Apartment Rent $1,442.00$949.0051.9%

      Transportation

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

      Utilities

      Item Storrs 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.
      Willimantic, CT18,6691010.6%
      South Windham, CT1,4751010.8%
      Rockville, CT7,0841022.4%
      Jewett City, CT3,3871043.9%
      Stafford Springs, CT4,7841043.8%
      Storrs, CT16,39211615.6%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Gainesville, VA16,39115251.8%
      East Riverdale, MD16,39512322.7%
      Fort Hunt, VA16,38318887.7%
      Pinehurst, NC16,38211818.1%
      Donna, TX16,3817624.4%
      Storrs, CT16,39211615.6%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.