Housing costs in Norwich?
A typical home costs
$379,900, which is 12.4% more expensive than the national average of
$338,100 and 4.9% more expensive than the average Connecticut home, at
$362,100. Renting a two-bedroom unit in Norwich costs
$1,410 per month, which is 15.1% cheaper than the national average of
$1,660 and 3.5% cheaper than the state average of
$1,460.
Can I afford Norwich?
To live comfortably in Norwich (zip 06389), Connecticut, a minimum annual income of
$72,720 for a family, and
$45,600 for a single person is recommended.
What does A.I. say about Norwich?
The cost of living in 06389 Norwich, CT is relatively high compared to other parts of the country. According to Sperling's Best Places, the cost of living index for this area is 131, which is 31% higher than the national average. Housing costs are especially expensive in Norwich; as of March 2021, the median home value was $229,000 with a median rent of $1,485. Transportation and utilities also tend to be more expensive here. Gas prices are usually higher than other parts of the US and public transportation can be limited. Grocery costs are also typically higher in Norwich due to its close proximity to New York City and Rhode Island. Despite this, Norwich remains a desirable place to live because of its access to beaches and nearby recreational activities.