Cost of Living in Prospect, CT
Housing
The housing market plays a significant role in determining the cost of living in Prospect, CT.
- Housing Index: 122.1 / 100
- Median Home Price is: $360,000
- Average Rent (2 BR Apartment): $2457 per month
- Average Rent (2 BR House): $2671 per month
Upon reviewing the housing data for Prospect, CT, the housing index currently stands at 122.1, while the median home price is notably at 360000. However, it’s crucial to address that both the average rent for a 2-bedroom apartment and house appear to be at 2457 and 2671, respectively – possibly indicating a lack of available rental properties in the area. For potential buyers, the median home price suggests a relatively moderate entry point to homeownership, but availability and rental options may impact your decision. Exploring these trends further could provide deeper insights into the housing market here.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Prospect, CT.
- Electricity Price: $26 USD (median by state)
- Natural Gas Price: Data is updating (median by state)
- Other Utilities (water, garbage, etc.): $257 per month
Living in Prospect, CT could entail higher utility costs. Electricity costs sit at $26, while natural gas is priced at data unavailable per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $257 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Prospect is a financially viable option for your relocation.