Groton, CT vs Waterford, CT

Groton is moderately more affordable than Waterford, with a 10.2% lower cost of living index. Groton scores 94 compared to 104 for Waterford, where the US average is 100. This difference means residents of Waterford can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Groton is $1,179/month compared to $1,618/month in Waterford — a 27% difference. Interestingly, home values tell a different story: while Groton has cheaper rent, Waterford actually has lower median home values ($245,600 vs $278,900).

Median household income in Groton is $69,811 compared to $75,968 in Waterford (-8.1%). The higher salaries in Waterford partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Groton spend roughly 20.3% of their income on rent, less than the 25.6% in Waterford.