Are you thinking about living in Cheshire and you're curious about what it's going to cost? In this episode of CT Life, I'm going to break down the costs of living here in Cheshire, Connecticut. We’ll look at everything from the cost of housing to gas prices so you know exactly what to expect.
We work with many people who move in and out of the great town of Cheshire, Connecticut. One of the top questions we always get is what is it going to cost. So if you're wondering about the cost of living, we’re going to give you the bottom line numbers. If you're not familiar with the area, you're probably also going to learn a few things about the local costs as well.
The Cost Of Housing
First, let's talk about the obvious: the cost of housing. One of the first things you're going to have to decide is if it’s better to buy or rent. What kind of housing do you need? Are you looking for a single-family or multifamily? Do you want an apartment or a home?
The price of housing varies, so if you have any additional questions, we can send you more detailed information. To start, here are some general pointers. The average three-bedroom single-family home here in Cheshire is roughly $395,000. For this price, you can expect 2,059 square feet and eight rooms. It would be on the market for an average of 27 days.
A two-bedroom in the same area would run roughly $310,000. For this price, you could expect 1,266 square feet, five rooms, two baths, and 28 days on market. The average two-bedroom condo would run roughly $224,000. For this price, you can expect 1,443 square feet, five rooms, two bathrooms, and an average of 23 days on market.
If you're looking to rent in the area, you can plan on spending anywhere between $1,880 to $3,500. It's also very difficult to find rentals here. Lastly, property tax in the area can vary. Cheshire's current mill rate is 33.22, which means the average $400,000 home would have property taxes right around $6,000.
Taxes, Gas, And Groceries
Now that you have a good idea of how much it costs for housing in Chesire, let’s look at some additional costs. The annual state income tax here is a rate of 3% up to $10,000 taxable income. It jumps up to 5% from $10,001 to $50,000, then goes to 5.5% from $50,001 to $100,000. After that, it’s 6% from $100,001 to $200,000.
Gas prices here average currently about $3 a gallon and yes—you will need a car to get around. Connecticut typically is one of the places with the highest gas prices in all of the United States. Cheshire has a few large grocery stores, so you can save some money on your grocery shopping. However, you would have to go to a neighboring town if you want to shop at Costco, Home Depot, or a similar big box store.
Here in Connecticut, we do have some other costs that some people don't expect. For example, there is annual property tax, not only on your real estate, but also on your car. We also have a sales tax of 6.35%, and you also will pay property tax on your home.
Enjoy Connecticut Living In Chesire
I hope this gave you some insight into the cost of living here in Cheshire, Connecticut. If you have any additional questions about Cheshire, please don't hesitate to reach out and ask. And if you’re thinking of moving or relocating here, somebody from my team would love to show you around and teach you all about Cheshire.
Don’t forget to subscribe to my channel if you want to receive more videos that are focused on everything Cheshire in Connecticut. Stay tuned to see what I feature on the next episode of CT Life!