Waterford, CT is a quaint town located in New London County with plenty of charm and attractions to explore. Many local small businesses are present throughout the town such as restaurants, stores, and antique shops. Waterford is also home to many larger companies such as The Day Publishing Company and Groton Electric Light Department. The cost of living in Waterford, CT is slightly higher than the US average when it comes to rent for two-bedroom homes, which is around $1,670 compared to the US average of $1,430. The grocery cost index in Waterford is 106 versus 100 for the US. Despite the slightly higher costs overall Waterford offers a peaceful atmosphere for its citizens that make it worth it.
Waterford has an unemployment rate of 7.7%. The US average is 6.0%.
Waterford 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 31.5%, which is lower than the US average of 33.5%.
Tax Rates for Waterford
- The Sales Tax Rate for Waterford is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Waterford 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 Waterford
- The average income of a Waterford resident is $39,498 a year. The US average is $28,555 a year.
- The Median household income of a Waterford resident is $95,880 a year. The US average is $69,021 a year.