Litchfield, Connecticut is a small town located in the state's northwest corner. This picturesque community is home to a variety of local businesses and is known for its strong economy. The median two-bedroom rent in Litchfield is $1,360, which is lower than the U.S. average of $1,430. Additionally, its Grocery Cost Index of 108 versus 100 in the US gives it an economically competitive edge.
The area's thriving businesses include Litchfield Bancorp Inc., Lake Waramaug Country Club, and The White Memorial Foundation Nature Museum and Conservation Center. Furthermore, the town has recently become home to numerous tech startups as well as established corporations such as Dymax Corporation and KBE Building Corporation. With its diverse economic sectors from technology to tourism, Litchfield provides plenty of job opportunities and continues to be a great place to live or work.
Litchfield has an unemployment rate of 7.9%. The US average is 6.0%.
Litchfield 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 Litchfield
- The Sales Tax Rate for Litchfield is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Litchfield 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 Litchfield
- The average income of a Litchfield resident is $45,939 a year. The US average is $28,555 a year.
- The Median household income of a Litchfield resident is $98,286 a year. The US average is $69,021 a year.