Cost of Living in Derby, CT

With a cost of living index of 99, Derby, CT is right around the national average in cost. Living here is 1% cheaper than the national average and 26% below the Connecticut state average of 125. Derby is a smaller community of 12,359 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Derby's cost of living. The median monthly rent is $1,453 (10% above the US median of $1,319), and the median home value sits at $242,300 (21% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Derby is $76,263, which is 1% higher than the national median of $75,149. Residents spend roughly 23% 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.