Cost of Living in New Haven, CT

With a cost of living index of 99, New Haven, 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. As a major city with a population of 132,893, New Haven offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in New Haven's cost of living. The median monthly rent is $1,442 (9% above the US median of $1,319), and the median home value sits at $249,000 (18% below the national median of $304,900). At current prices, the median home costs roughly 4.6x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in New Haven is $53,771, which is 28% lower than the national median of $75,149. Residents spend roughly 32% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened.

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.