Putnam, CT is a small town located in the Northeast region of the country. The cost of living in Putnam is quite favorable compared to the US as a whole, with two bedroom rental costs being about $1,280 versus $1,430 nationally. Groceries are also relatively cheaper here than in other cities with an index at 104. This town is also home to some great local companies such as Putnam Pizza Palace, which serves award-winning pizza pies, and Putnam Plumbing Services that has been servicing the area for over 20 years. In short, Putnam offers an affordable cost of living with great local businesses that make it an attractive place to live for those looking for small town charm while still having access to big city amenities.
Putnam has an unemployment rate of 8.6%. The US average is 6.0%.
Putnam has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 31.4%, which is lower than the US average of 33.5%.
Tax Rates for Putnam
- The Sales Tax Rate for Putnam is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Putnam 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 Putnam
- The average income of a Putnam resident is $24,639 a year. The US average is $28,555 a year.
- The Median household income of a Putnam resident is $67,070 a year. The US average is $69,021 a year.