Economy in New Haven, Connecticut

New Haven, Connecticut has a resilient economy that continues to grow as more diverse industries move into the area. The unemployment rate sits at 8%, higher than both the state and national averages. Despite this statistic, many businesses are thriving in New Haven due to the city’s educated workforce and abundance of resources. Median household income is approximately $36,000 with housing costs being slightly below the U.S average which helps make living here more affordable for residents.

New Haven has an unemployment rate of 9.7%. The US average is 6.0%.

New Haven 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 27.3%, which is lower than the US average of 33.5%.

Tax Rates for New Haven
- The Sales Tax Rate for New Haven is 6.4%. The US average is 7.3%.
- The Income Tax Rate for New Haven 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 New Haven
- The average income of a New Haven resident is $23,796 a year. The US average is $28,555 a year.
- The Median household income of a New Haven resident is $37,508 a year. The US average is $53,482 a year.