Norwalk, CT

Very High · 156

Connecticut · Population 91,375 · Updated March 2026

$2,010
Median Rent / Month
$105,301
Median Income
$535,000
Median Home Value
$2,263
Owner Costs / Month

Affordability

How far your income goes in Norwalk

22.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Connecticut

State-level tax rates that affect your costs

6.99%
Income Tax (Top Rate)
6.35%
Sales Tax
2.15%
Property Tax Rate

Estimated Annual Costs

$24,120
Annual Rent
$7,361
State Income Tax
$11,502
Property Tax (est.)

Cost of Living Overview

Norwalk has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 156 (where 100 equals the national median), Norwalk residents can expect to pay median rent of $2,010/month while earning a median household income of $105,301/year.

The median home value in Norwalk, CT is $535,000, with typical monthly owner costs around $2,263 including mortgage, insurance, and taxes. The median rent-to-income ratio of 22.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Connecticut has a moderate income tax rate of 6.99%. Combined with a 6.35% sales tax rate and 2.15% effective property tax rate, the overall tax environment is a factor in the total cost of living in Norwalk.

Frequently Asked Questions

Common questions about living costs in Norwalk

What is the cost of living in Norwalk, CT?
The cost of living index in Norwalk, CT is 156 (US average = 100). Median monthly rent is $2,010, median household income is $105,301/year, and the median home value is $535,000.
Is Norwalk, CT affordable?
No, Norwalk is more expensive than the national average with a cost index of 156. The rent-to-income ratio is 22.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Norwalk, CT?
The median gross rent in Norwalk, CT is $2,010 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,120.
What is the median household income in Norwalk?
The median household income in Norwalk, CT is $105,301 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Connecticut?
Connecticut has a top income tax rate of 6.99%, a sales tax of 6.35%, and an effective property tax rate of 2.15%.