Are you wondering what it costs to live here in Southington, Connecticut and you're looking for somebody to give you the bottom line of what it's really going to cost? In this episode of CT Life, I’m going to break down the cost of living right here in the great town of Southington. We’ll look at everything from the cost of housing to the cost of gas so you know exactly what to expect.
We work with many people who move here, and this is always one of the top questions we get. So if you're wondering about the cost of living, we're going to give you some bottom-line numbers. You'll probably also learn a few things about some of our local costs as well. And if you're not familiar with the area, you're definitely going to appreciate this.
The Cost Of Housing
First, let's talk about the obvious: the cost of housing. One of the first things you're going to need to decide is if it’s better to buy or rent here. Then, you’ll want to decide what kind of housing you need. Are you looking for a single-family or do you need a multifamily?
The price of housing varies, so if you have any additional questions I can send you more detailed information. However, here are some general guidelines. The average three-bedroom, single-family home in Southington is roughly $337,000. For this price, you can expect to get 1,571 square feet, eight rooms, two bathrooms, and an average of 21 days on market.
A two-bedroom in the same area would run roughly $235,000. For this price, you can expect 1048 square feet, five rooms, two bathrooms, and an average of 32 days on market. The average two-bedroom condo would run roughly $221,000. For this price, you can expect 1,240 square feet, five rooms, two bathrooms, and an average of 18 days on market.
If you're looking to rent in Southington, you can plan on spending anywhere from $1,100 a month on the low end up to about $2,850 on the higher end. Property taxes in our area vary. With the current mill rate in Southington of 29.13, the average $400,000 house in Southington has property taxes of around $6,000.
Taxes
I hope that gives you some insight into the cost of living in terms of housing, but let's go over some of the other costs of living here in Southington. We’ll start with the annual state income tax.
There's a tax rate of 3% on the first $10,000 of taxable income and a rate of 5% on taxable income from $10,000 to $50,000. Next, it jumps up to 5.5% from $50,000 to $100,000 and a tax rate of 6% from $100,000 to $200,000.
This is one of the reasons Connecticut is known as the “tax-you-to-death” state. One of the benefits of moving out of the state is eliminating that big tax.
Gas, Groceries, And Shopping
Gas here averages about $3.50 a gallon and yes—you will need a car. This makes it one of the most expensive places in the country to buy gasoline. Southington also has a few large grocery stores, so you can save some money on your grocery shopping.
You also don't have to leave Southington to do your shopping. If you're looking for big box stores, there are Home Depots, a BJs Wholesale Club, and similar stores. Lastly, Connecticut does have some additional costs that some people don't expect. For example, there is annual property tax not only on your home but also on your car. There's also a sales tax of 6.35% and property tax on your home.
Living In Southington
I hope this video gave you some insight into the cost of living here in Southington, Connecticut. If you have any additional questions about Southington, please do not hesitate to reach out and ask. We help people all the time when moving around the great state of Connecticut and relocating directly here to Southington, and we’d be happy to help you, too.
If you like this video and would like to receive more information focused on everything Southington and CT, make sure you subscribe to my channel so you never miss an episode of CT Life. Be sure to leave a comment below about what you thought of the video on Southington and where you would like to see us go for a future video.
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