Cost of Living in Old Mystic, CT

Population 3,189 · Connecticut · Data vintage 2023

119
Cost Index
(100 = US avg)
Page updated: · Data vintage: 2023 ACS 5-Year
Sources: Census ACS·BLS·NOAA·EPA·Zillow · Methodology

Under 25,000 residents gives Old Mystic a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $325,000.

Located 40 miles southwest of Providence, Old Mystic falls within that metro's commuting orbit. Housing prices track closely with Providence's $323,000 median.

Cost Overview

Housing 106
Rent 139

Scale: 100 = US national average. Green < 90, Red > 110.

About the Cost of Living in Old Mystic

The median home value in Old Mystic is $324,600 — 6% above the national median of $305,000. Median rent runs $1,823/month, 39% higher than the national median of $1,314/month. The median household income of $119,444/year is 60% higher than the US median of $74,580. The local unemployment rate is 4.5%, below the national average of 4.8%. Connecticut's top state income tax rate is 7.0% and the combined sales tax is 6.3%. Overall, Old Mystic has a cost of living index of 119 versus the US average of 100, meaning it is 19% more expensive.

🏠 Housing

Median Home Value
$324,600
6% above avg
Median Rent
$1,823/mo
39% above avg
Price-to-Rent Ratio
14.8x
Favors buying
Property Tax Rate
2.1%
Effective rate

HUD Fair Market Rents by Bedroom

Studio
$1,133
1 BR
$1,306
2 BR
$1,653
3 BR
$1,992
4 BR
$2,363
Owner-occupied 90.3%
Renter-occupied 9.7%

💰 Estimated Monthly Budget

Rent median rent
$1,823
Groceries national estimate
$400
Utilities local estimate
$88
Transportation local gas prices
$126
Estimated Total $2,437/mo

Estimates based on median data and national averages. Actual costs vary.

🛒 Food & Groceries

National BLS average prices (2023). Local prices may vary.

🥚
Eggs (dozen)
$0.548
🍞
White Bread (lb)
$1.912
🥩
Ground Beef (lb)
$5.61

🚗 Transportation

Avg Commute
26.8 min
1% below avg
Gas Price
$3.145/gal
0% below avg
Work From Home
13.8%

Commute Mode

Drove alone
81.2%
Carpooled
4.1%
Walked
0.9%
Work from home
13.8%

Utilities

Electricity
$0.176/kWh
0% below avg

📋 Taxes

State Income Tax 7.0%
Total Sales Tax 6.3%
State rate 6.3%
Avg local rate 0.0%
Property Tax 2.1%

💼 Income & Employment

Median Household Income
$119,444
60% above avg
Per Capita Income
$54,276
Unemployment Rate
4.5%
7% below avg
Poverty Rate
4.2%
Labor Force Participation
60.7%

🎓 Education

Bachelor's degree+ 22.9%
Graduate degree 19.7%

👥 Demographics

Median Age 47.6
Male median age 44.5
Female median age 50.2

Frequently Asked Questions

What is the cost of living in Old Mystic, CT?

Old Mystic has a cost index of 119 (100 = national average). It is 19% above the national average.

What is average rent in Old Mystic, CT?

The median gross rent in Old Mystic is $1,823 per month based on 2023 Census data.

What is the average home price in Old Mystic?

The median home value in Old Mystic is $324,600 according to 2023 Census ACS data.

What is the median income in Old Mystic?

The median household income in Old Mystic is $119,444 per year (2023 ACS 5-year estimates).

What is the sales tax in Old Mystic, CT?

The combined state and local sales tax rate in Old Mystic is 6.3%. The Connecticut state income tax top rate is 7.0%.

Is Old Mystic, CT affordable?

Old Mystic is above average in cost of living, with an index of 119 — about 19% higher than the national average.