Cost of Living in Groton

Groton, is a town located along the Thames River in New London County, known for its maritime history and as the location of the Naval Submarine Base New London. The cost of living in Groton can vary depending on various factors such as proximity to amenities and the waterfront. Housing prices in Groton have seen fluctuations over the years, influenced by the real estate market trends and economic conditions.

As of my knowledge cutoff in early 2023, the median home value in Groton for a 3-bedroom home is approximately $250,000 to $350,000, while a 4-bedroom home may range from $300,000 to $450,000 or more, depending on the location, size, and condition of the property. Apartment rentals for a 1-bedroom can range from $1,000 to $1,500 per month, while a 2-bedroom apartment might cost between $1,200 and $1,800 per month. Purchasing an apartment or a condo in Groton can vary widely, with prices starting around $100,000 and going up to $300,000 or more for units with more amenities or in more desirable locations.

When it comes to dining out, Groton offers a variety of restaurants ranging from casual eateries to fine dining. A meal at an inexpensive restaurant might cost around $15 per person, while a three-course meal for two at a mid-range restaurant can be around $50 to $70. Utilities for a standard 85m² apartment, including electricity, heating, cooling, water, and garbage, can average between $150 and $250 per month, depending on usage and the time of year.

Private school tuition in Groton can be quite costly. Preschool (or kindergarten) tuition can range from $10,000 to $20,000 per year. Elementary schools might charge between $15,000 and $25,000 per year, while middle and high schools can cost upwards of $20,000 to $30,000 or more annually. These prices can vary significantly based on the institution's reputation, facilities, and the educational programs offered.