Cost of Living in Old Mystic, CT

With a cost of living index of 117, Old Mystic, CT is a notably expensive place to live. Living here is 17% more expensive than the national average and 8% below the Connecticut state average of 125. Old Mystic is a small community of 3,189 residents.

Housing costs are the biggest factor in Old Mystic's cost of living. The median monthly rent is $1,823 (38% above the US median of $1,319), and the median home value sits at $324,600 (6% above the national median of $304,900). At current prices, the median home costs roughly 2.7x the median household income — well within traditional affordability guidelines.

The median household income in Old Mystic is $119,444, which is 59% higher than the national median of $75,149. Residents spend roughly 18% 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.