Connecticut Cost Of Living Statistics 2023
– Everything You Need to Know

Last Updated on by | Reviewed by Editorial Staff

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Connecticut Cost Of Living Statistics 2023: Facts about Cost Of Living in Connecticut reflect the current socio-economic condition of the state.

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LLCBuddy editorial team did hours of research, collected all important statistics on Connecticut Cost Of Living, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to start a Connecticut LLC business in 2023? Maybe for educational purposes, business research, or personal curiosity, whatever it is – it’s always a good idea to gather more information.

How much of an impact will Connecticut Cost Of Living Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Connecticut Cost Of Living Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 10 Connecticut Cost Of Living Statistics on this page 🙂

Connecticut Cost Of Living “Latest” Statistics

  • Connecticut’s cost index for transportation is approximately 12% more than the national average according to Kilic.[1]

Connecticut Cost Of Living “Be” Statistics

  • In Connecticut, housing expenses are estimated to be roughly 45% more than the national average; but, according to Kilic, given the state of the market, this figure is likely substantially higher.[1]

Connecticut Cost Of Living “Other” Statistics

  • Connecticut has the eighth-highest cost of living index in the United States, at 121.6.[2]
  • With an average monthly cost of $438.21, utility costs in Connecticut are among the highest in the country.[2]
  • In Connecticut, rent for a two-bedroom apartment in the state is $1,177 a month, while the average single-family home is $318,096.[2]
  • Only 15% of citizens in the state make enough money to sustain buying a new house, making it the least affordable state in the nation for housing.[2]
  • A family of four in Connecticut makes an annual median income of $120,379. This is significantly more than the $99,955 necessary for a livable wage.[2]
  • With a 4.9% unemployment rate, Connecticut has one of the highest rates in the country.[2]
  • In Connecticut, the median age is 41.1 years, one of the highest median ages in the nation, while the state’s share of people aged 50 and older is about 40%.[3]
  • According to research, Connecticut ranks 27.7 percent more than the national average overall, with housing 44.7 percent higher, utilities 28 percent higher, grocery 14.2 percent higher, and transportation 11.8 percent higher.[1]

Also Read

Reference

  1. ctpost – https://www.ctpost.com/realestate/article/Why-is-Connecticut-s-cost-of-living-so-high-16139242.php
  2. worldpopulationreview – https://worldpopulationreview.com/state-rankings/most-expensive-states-to-live-in
  3. seniorliving – https://www.seniorliving.org/connecticut/

About Author & Editorial Staff

Steve Goldstein, founder of LLCBuddy, is a specialist in corporate formations, dedicated to guiding entrepreneurs and small business owners through the LLC process. LLCBuddy provides a wealth of streamlined resources such as guides, articles, and FAQs, making LLC establishment seamless. The diligent editorial staff makes sure content is accurate, up-to-date information on topics like state-specific requirements, registered agents, and compliance. Steve's enthusiasm for entrepreneurship makes LLCBuddy an essential and trustworthy resource for launching and running an LLC.

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