Bantam, CT is a small town located in Litchfield County. It is a quiet area with beautiful views of the Connecticut River Valley and many outdoor activities to enjoy. Despite being a rural area, it has plenty of amenities for its residents including local restaurants, shops, parks, and even an arts center. The cost of living in Bantam is lower than the US average with rent being significantly less at $1,370 compared to $1,430 nationwide. Additionally, the grocery cost index in Bantam is 107 versus 100 in the US making groceries more affordable as well. Some notable companies located here include Dickinson Memorial Library, Litchfield Historical Society and Museum and White Flower Farm.
Bantam has an unemployment rate of 7.9%. The US average is 6.0%.
Bantam has seen the job market decrease by -0.4% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Bantam
- The Sales Tax Rate for Bantam is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Bantam 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 Bantam
- The average income of a Bantam resident is $40,059 a year. The US average is $28,555 a year.
- The Median household income of a Bantam resident is $49,500 a year. The US average is $69,021 a year.