Essex Village, CT vs New Milford, CT

The cost of living difference between Essex Village, CT and New Milford, CT is dramatic. New Milford is 51.4% cheaper than Essex Village, a gap that translates to thousands of dollars per year in household expenses. Essex Village has a cost index of 159 while New Milford sits at 105, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Essex Village is $2,071/month compared to $1,422/month in New Milford — a 46% difference. Home values follow the same pattern: New Milford is more affordable at $326,200 median vs $744,100.

Median household income in Essex Village is $110,469 compared to $81,170 in New Milford (+36.1%). The higher salaries in Essex Village partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Essex Village spend roughly 22.5% of their income on rent, more than the 21% in New Milford.