Cost of Living in Cheshire Village, CT

With a cost of living index of 100, Cheshire Village, CT is right around the national average in cost. Living here is 0% more expensive than the national average and 25% below the Connecticut state average of 125. Cheshire Village is a smaller community of 6,049 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Cheshire Village's cost of living. The median monthly rent is $1,090 (17% below the US median of $1,319), and the median home value sits at $393,200 (29% above the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cheshire Village is $114,923, which is 53% higher than the national median of $75,149. Residents spend roughly 11% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.