Cost of Living in Old Greenwich, CT

With a cost of living index of 278, Old Greenwich, CT is one of the most expensive cities in the United States. Living here is 178% more expensive than the national average and 153% above the Connecticut state average of 125. Old Greenwich is a smaller community of 6,904 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Old Greenwich's cost of living. The median monthly rent is $3,501 (165% above the US median of $1,319), and the median home value sits at $1,668,200 (447% above the national median of $304,900). At current prices, the median home costs roughly 6.7x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Old Greenwich is $250,001, which is 233% higher than the national median of $75,149. Residents spend roughly 17% 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.