Cost of Living in Stonington

Stonington, is a charming coastal town that offers a blend of New England charm and a relatively high cost of living compared to the national average. The housing market in Stonington reflects its desirability as a residential area, with prices for homes varying depending on proximity to the waterfront, age, size, and condition of the property. As of my knowledge cutoff in early 2023, the median home value in Stonington is quite high, with 3-bedroom homes typically ranging from $350,000 to $600,000, while 4-bedroom homes can range from $450,000 to well over $1 million, especially for properties with water views or historic significance.

Apartment rentals in Stonington can also be on the pricier side, with monthly rents for a 1-bedroom apartment starting around $1,200 and going up to $2,000 or more for a 2-bedroom unit. Apartments available for purchase, such as condominiums, can vary widely in price, from the mid $200,000s for a smaller, older unit to $500,000 and up for a newer or more luxurious condo with amenities.

Dining out in Stonington can cater to a range of budgets, with casual eateries and cafes offering meals for around $10-20 per person, while mid-range restaurants typically charge between $20-40 per person for a meal. Upscale dining experiences, particularly those with ocean views or gourmet menus, can cost $50 per person or more, not including drinks, tax, or tip.

Utilities in Stonington, including electricity, heating, cooling, water, and garbage, can cost a household approximately $200-300 per month, depending on usage and the size of the home. This cost can fluctuate with the seasons, as heating expenses can be significant during the cold New England winters.

Private school tuition in Stonington varies by the level of education and the institution. Preschool tuition can range from $10,000 to $20,000 per year. Elementary and middle schools can cost between $15,000 and $30,000 annually, while private high schools can be even more expensive, with some tuitions reaching upwards of $30,000 to $40,000 per year. These costs reflect the quality of education and facilities provided by private institutions in the area.