Cost of Living in Oakville, CT

With a cost of living index of 98, Oakville, CT is slightly more affordable than average. Living here is 2% cheaper than the national average and 28% below the Connecticut state average of 125. Oakville is a smaller community of 9,233 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Oakville's cost of living. The median monthly rent is $1,378 (4% above the US median of $1,319), and the median home value sits at $253,500 (17% below the national median of $304,900). At current prices, the median home costs roughly 2.8x the median household income — well within traditional affordability guidelines.

The median household income in Oakville is $89,330, which is 19% higher than the national median of $75,149. Residents spend roughly 19% 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.