B-
2%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
12%
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 Torrington Connecticut National
Cost of living102118100
Goods & Services108109100
Groceries101102100
Health care103109100
Housing88137100
Transportation96100100
Utilities127130100

An Overview of Cost of Living in Torrington, CT

Knowing the cost of living in Torrington 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 Torrington stands at 102, marking it 2% higher than the national average.

Everyday expenditures like food, housing, goods and services, transportation and health care in Torrington are priced in a manner consistent with other areas. This means that residents of Torrington can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

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

Nobody knows their city better than the people who actually live there. So, we asked 5 local residents how they would rate the cost of living in Torrington and this is how they responded. 40% of people said that the cost of living was affordable, with prices decreasing, while 60% of people said that the cost of living was very expensive and prices continue to rise.

Is Torrington Affordable?

Is Torrington 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 Torrington, the median home price is 16.7% lower than the national average and monthly rent prices are 0.2% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Torrington boasting a median household income of $60,662, 9.7% higher than the national average.

What Factors can Influence the Cost of Living in Torrington?

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 Torrington, the transportation index is 3.7% lower than the national average.

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.

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 Torrington, the housing index is 11.6% lower than the national average.

Where is the Data From?

The Torrington 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 Torrington is 14% lower than the Connecticut average
  • The cost of living in Torrington is 2% higher than the national average
  • Torrington housing is 12% 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 Torrington

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Compare Torrington, 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$75,449$6,287$1,760$2,264
      Renters$37,806$3,151$882$1,134
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Torrington, CT, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Torrington homeowners, is $75,449. This would allow for a maximum of $1,760 per month to be spent on housing costs. For renters, the median monthly income is $37,806 which would result in a maximum of $882 to be spent on rental costs.

      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 Torrington 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 Torrington 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 Torrington 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 Torrington National avg. Difference
      Home Price $153,800.00$184,700.0016.7%
      Avg. Mortgage Payment $2,110.08$2,346.6910.1%
      Apartment Rent $951.00$949.000.2%

      Transportation

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

      Utilities

      Item Torrington 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.
      Bantam, CT6061011.0%
      Winsted, CT6,5041032.8%
      Canaan, CT1,2301033.3%
      Terryville, CT5,0191066.0%
      Thomaston, CT1,7301077.2%
      Torrington, CT34,2591021.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Butte-Silver Bow, MT34,2631000.1%
      Wenatchee, WA34,24911817.6%
      Adelanto, CA34,23811616.5%
      Kennesaw, GA34,2321044.1%
      Chillum, MD34,23012828.5%
      Torrington, CT34,2591021.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.