By: Joelle Andersen, TOMO
According to the Cost-of-Living Index (COLI) published by the Council for Community and Economic Research, Connecticut ranks as one of the most expensive states to live in compared to the national average. Connecticut’s cost-of-living index is 121.6, which is significantly higher than the national average of 100. This means the cost of living in Connecticut is about 21.6 percent higher than the national average.
Factors contributing to this ranking include housing costs, transportation expenses, healthcare expenditures, and other essentials. Specifically, let’s talk about housing. According to this study, housing costs in the state are nearly 35 percent higher than the national average. So, moving or relocating to Connecticut can be an expensive endeavor. One way to keep expenses low is to find a cheap home in the area—the least expensive home on the block. We know this isn’t as easy as it sounds in a state where housing prices are 35% higher than most other states, so this is where Tomo comes in.
Tomo, a real estate and mortgage company, looked at the most recent homes on the market and came up with a quick list of the most inexpensive homes in Connecticut. We break it down by city to make it a more useful list:
- Cheap homes for sale in Bridgeport, CT: Bridgeport is the largest city in the state and is located along the scenic coastline of Long Island Sound. Its waterfront is a focal point of the city, and the city’s harbor area has undergone revitalization, offering parks, marinas, and waterfront dining options. Bridgeport serves as an economic hub for Fairfield County, with industries ranging from healthcare and finance to manufacturing and technology, which creates many business opportunities and employment prospects. The city boasts cultural attractions such as the Barnum Museum, dedicated to the legacy of P.T. Barnum, and the Discovery Museum and Planetarium, offering interactive exhibits and educational programs. The Downtown Cabaret Theatre and Klein Memorial Auditorium provide venues for live performances and entertainment.
- Cheap homes for sale in Danbury, CT: Danbury, located just 70 miles northeast of New York City, provides residents with easy access to the city’s cultural attractions, job opportunities, and entertainment options while still enjoying a suburban lifestyle. This town is nestled in a scenic area surrounded by rolling hills, lush forests, and picturesque lakes. Outdoor enthusiasts can explore numerous parks, hiking trails, and lakeside activities throughout the year, such as Candlewood Lake and Tarrywile Park & Mansion. The city boasts a diverse economy, with sectors including healthcare, technology, manufacturing, and retail. Danbury serves as a regional economic hub, providing ample job opportunities and economic stability.
- Cheap homes for sale in Fairfield, CT: Living in Fairfield offers a combination of upscale suburban living, coastal beauty, and a vibrant community atmosphere. Fairfield is situated along the scenic Connecticut coastline, providing residents with access to beautiful beaches, waterfront parks, and stunning views of Long Island Sound. Jennings Beach and Penfield Beach are popular spots for swimming, picnicking, and enjoying sunset views. It is also the home to Fairfield University, a private institution known for its strong academic programs and community engagement. Additionally, the town’s public schools are highly rated, providing excellent educational opportunities for families.
- Cheap homes for sale in Norwalk, CT: Like living near the beach, then Norwalk is the town. Located along the Long Island Sound, Norwalk has beaches like Calf Pasture Beach and Veterans Memorial Park, which are popular for outdoor activities and for enjoying the waterfront. Norwalk is known for its diverse neighborhoods, each offering a unique atmosphere and amenities. Whether you prefer a historic district like Rowayton, a suburban setting in West Norwalk, or a vibrant downtown area, Norwalk has options to suit different lifestyles. It is also the home to the Maritime Aquarium, which showcases marine life and offers educational programs. The Lockwood-Mathews Mansion Museum and Stepping Stones Museum for Children provide opportunities for learning and exploration.
- Cheap homes for sale in Stamford, CT: Not only is Stamford the headquarters for Tomo, but it also offers a blend of urban convenience, scenic beauty, and cultural richness that makes it a desirable place to call home. The closest Connecticut city on our list, just 30 miles northeast of Manhattan, this city provides residents with easy access to the cultural and employment opportunities of New York City, yet commuters come home to their suburban neighborhood. Stamford is a major business center known for its financial sector, corporate headquarters, and thriving economy. The city hosts Fortune 500 companies, financial institutions, and tech startups, providing ample job opportunities and economic stability.
As pointed out earlier, living in Connecticut can be costly, so if on a budget, having a list of cheap homes on the market is a good starting point. If you are moving to the area because of the easy commute into New York City but want to spend evenings and weekends in the summer on the beach, just keep looking and researching for that cheap home. Good luck!
Published By: Aize Perez
