Cost of Living in Sharon, CT

With a cost of living index of 164, Sharon, CT is one of the most expensive cities in the United States. Living here is 64% more expensive than the national average and 39% above the Connecticut state average of 125. Sharon is a small community of 495 residents.

Housing costs are the biggest factor in Sharon'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 $276,300 (9% below the national median of $304,900). At current prices, the median home costs roughly 1.7x the median household income — well within traditional affordability guidelines.

The median household income in Sharon is $158,146, which is 110% higher than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability. 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.