Cost of Living in Old Hill, CT

With a cost of living index of 244, Old Hill, CT is one of the most expensive cities in the United States. Living here is 144% more expensive than the national average and 119% above the Connecticut state average of 125. Old Hill is a small community of 3,078 residents.

Housing costs are the biggest factor in Old Hill'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 $1,255,700 (312% above the national median of $304,900). At current prices, the median home costs roughly 5x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Old Hill 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.