Cost of Living in Route 7 Gateway, CT

With a cost of living index of 144, Route 7 Gateway, CT is one of the most expensive cities in the United States. Living here is 44% more expensive than the national average and 19% above the Connecticut state average of 125. Route 7 Gateway is a small community of 1,032 residents.

Housing costs are the biggest factor in Route 7 Gateway's cost of living. The median monthly rent is $1,696 (29% above the US median of $1,319), and the median home value sits at $706,700 (132% above the national median of $304,900). At current prices, the median home costs roughly 5.3x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Route 7 Gateway is $132,188, which is 76% higher than the national median of $75,149. Residents spend roughly 15% 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.