Falls Village, CT is a small town with lots of charm. The cost of living is notably lower than the US average, with 2 bedroom rental prices estimated at $1,360 compared to $1,430 in the US. In addition, the local grocery cost index is 106 compared to its benchmark of 100. For local businesses there are several restaurants and stores around town including Tom's Country Store, Falls Village Inn and Falls Village Pharmacy. There are also small businesses such as McClure’s Orchard and Big Y Farms. These local establishments provide the community with fresh produce for all their needs. Falls Village also has a few art galleries where residents can purchase unique works of art from talented local artists. With its favorable cost of living and quaint appeal, Falls Village makes a great place for both visitors and residents alike.
Falls Village has an unemployment rate of 7.9%. The US average is 6.0%.
Falls Village has seen the job market decrease by -6.4% 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 Falls Village
- The Sales Tax Rate for Falls Village is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Falls Village 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 Falls Village
- The average income of a Falls Village resident is $53,025 a year. The US average is $37,638 a year.
- The Median household income of a Falls Village resident is $0 a year. The US average is $69,021 a year.