Cost of Living in East Lyme
Summary: If you are thinking about moving to East Lyme, here is an overview of the cost of living there.
East Lyme, is a charming coastal town that offers a mix of suburban and rural living. The cost of living in East Lyme is generally higher than the national average, primarily due to the housing market. For those looking to purchase a home, the prices can vary significantly based on location, size, and condition. As of my knowledge cutoff in early 2023, the median home value in East Lyme is around $300,000 to $400,000. A 3-bedroom home typically ranges from $250,000 to $350,000, while a 4-bedroom home can cost anywhere from $300,000 to $500,000 or more, depending on the property's features and proximity to the waterfront or town center.
Apartment rentals in East Lyme also reflect the town's desirable coastal location. A 1-bedroom apartment might rent for between $1,200 and $1,500 per month, while a 2-bedroom apartment can range from $1,500 to $2,000 per month. For those interested in purchasing an apartment or a condominium, prices can vary widely, but you might expect to pay anywhere from $150,000 to $300,000, depending on the size and amenities offered.
Dining out in East Lyme can cater to a variety of tastes and budgets. A meal at an inexpensive restaurant might cost around $15 to $20 per person, while a three-course meal at a mid-range restaurant could be priced at $50 to $70 per person. Of course, prices can be higher at upscale dining establishments, especially those with ocean views or specialty seafood menus.
Utilities in East Lyme, including electricity, heating, cooling, water, and garbage, can cost around $200 to $300 per month for a standard household, but this can fluctuate based on usage and the time of year. Connecticut generally has higher utility rates compared to the national average.
Private school tuition varies widely depending on the institution and the level of education. For preschool, tuition can range from $10,000 to $20,000 per year. Elementary schools might charge between $15,000 and $25,000 annually, while middle and high schools can cost from $20,000 to $40,000 per year or more for prestigious institutions. These figures are approximate and can vary significantly based on the school's reputation, facilities, and the programs offered.
| Item | Cost |
|---|---|
| 3-Bedroom Home Purchase | $250,000 - $350,000 |
| 4-Bedroom Home Purchase | $300,000 - $500,000+ |
| 1-Bedroom Apartment Rental | $1,200 - $1,500/month |
| 2-Bedroom Apartment Rental | $1,500 - $2,000/month |
| Apartment Purchase | $150,000 - $300,000 |
| Inexpensive Restaurant Meal | $15 - $20/person |
| Mid-Range Restaurant 3-Course Meal | $50 - $70/person |
| Utilities (Monthly Average) | $200 - $300 |
| Private Preschool Tuition (Annual) | $10,000 - $20,000 |
| Private Elementary School Tuition (Annual) | $15,000 - $25,000 |
| Private Middle School Tuition (Annual) | $20,000 - $40,000 |
| Private High School Tuition (Annual) | $20,000 - $40,000+ |
About the Author
Joshua Wood, LPC is one of the Founders of BlueBurbia and serves as Co-President of Expat Exchange. Prior to Expat Exchange and BlueBurbia, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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