Cost of Living: Waterbury, CT vs Springfield, IL (2026)

Waterbury

Connecticut

Springfield

Illinois

Waterbury is 15% more expensive than Springfield.

$1,180/mo ↑ 25%

Median Rent

$945/mo ↓ 20%

$51,642/yr ↓ 21%

Median Income

$65,537/yr ↑ 27%

$185,400 ↑ 19%

Home Value

$155,200 ↓ 16%

$1,273/mo ↑ 31%

Owner Costs

$974/mo ↓ 23%

114,356

Population

113,714

Tax Comparison

6.99%

Income Tax

4.95%

6.35%

Sales Tax

6.25%

2.15%

Property Tax

2.07%

Affordability

27.4%

rent-to-income

Affordability

17.3%

rent-to-income

Detailed Comparison

When comparing Waterbury, CT and Springfield, IL, the overall cost of living indices are 76 and 61 respectively (national median = 100). Rent is $235/month cheaper in Springfield, saving renters about $2,820/year.

Median household income is $13,895/year higher in Springfield. Home values also differ significantly — the median in Waterbury is $185,400 compared to $155,200 in Springfield.

Illinois has a lower income tax rate, making Springfield slightly more tax-friendly.

Frequently Asked Questions

Waterbury vs Springfield — common questions

Is Waterbury or Springfield cheaper to live in?

Based on our cost index, Springfield is cheaper to live in with an index of 61 compared to 76 (US average = 100).

What is the rent difference between Waterbury and Springfield?

Median rent in Waterbury is $1,180/month and in Springfield it's $945/month — a difference of $235/month.

Which city has higher income, Waterbury or Springfield?

Median household income is $51,642 in Waterbury and $65,537 in Springfield. Median household income is $13,895/year higher in Springfield.

How do taxes compare between Connecticut and Illinois?

Connecticut has 6.99% income tax, 6.35% sales tax, and 2.15% property tax. Illinois has 4.95% income tax, 6.25% sales tax, and 2.07% property tax.

Should I move to Waterbury or Springfield?

It depends on your priorities. Waterbury has a cost index of 76 with median rent of $1,180/mo, while Springfield has a cost index of 61 with rent of $945/mo. Consider income potential, tax burden, and lifestyle preferences alongside raw cost data.