Cost of Living in Groton Long Point, CT

With a cost of living index of 179, Groton Long Point, CT is one of the most expensive cities in the United States. Living here is 79% more expensive than the national average and 54% above the Connecticut state average of 125. Groton Long Point is a small community of 511 residents.

Housing costs are the biggest factor in Groton Long Point's cost of living. The median monthly rent is $2,313 (75% above the US median of $1,319), and the median home value sits at $897,400 (194% above the national median of $304,900). At current prices, the median home costs roughly 7.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Groton Long Point is $122,500, which is 63% 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. While incomes are above average, they do not fully offset the higher cost of living.

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.