Cost of Living in Mystic, CT

With a cost of living index of 127, Mystic, CT is a notably expensive place to live. Living here is 27% more expensive than the national average and in line with the Connecticut state average. Mystic is a small community of 4,441 residents.

Housing costs are the biggest factor in Mystic's cost of living. The median monthly rent is $1,688 (28% above the US median of $1,319), and the median home value sits at $493,200 (62% 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 Mystic is $146,042, which is 94% higher than the national median of $75,149. Residents spend roughly 14% 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 more than 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.