Groton, CT is a small town of approximately 10,500 people located in southeastern Connecticut. It offers access to a variety of local companies and amenities to its citizens. For example, the town has several top-notch restaurants such as The Whaler’s Inn as well as shops like The Groton Inn and Quaker Hill Tavern. Additionally, Groton offers plenty of recreational activities such as biking, walking trails, and swimming at Bluff Point State Park. The cost of living in Groton is relatively low compared to other parts of the state. For example, the average two-bedroom rent in Groton is $1,570 while the US average two-bedroom rent is $1,430. Similarly, the Grocery Cost Index in Groton is 106 versus 100 in the US. Overall Groton provides an affordable lifestyle with access to many local businesses and amenities for its citizens.
Groton has an unemployment rate of 9.2%. The US average is 6.0%.
Groton has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Groton
- The Sales Tax Rate for Groton is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Groton is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Groton
- The average income of a Groton resident is $34,353 a year. The US average is $28,555 a year.
- The Median household income of a Groton resident is $73,999 a year. The US average is $69,021 a year.