Riverside, CT is a great city to live in due to its close proximity to many major metropolitan centers. It has a few local companies that contribute to its strong economy, such as United Technologies Corporation, Sikorsky Aircraft Corporation, and Boehringer Ingelheim Pharmaceuticals Inc. The cost of living in Riverside is higher than the national average, with 2 bedroom rent being nearly $2,000 more expensive than the US average. Groceries are also more expensive in Riverside as the grocery cost index is 19 points higher than the US average. Despite this, many people find it worth it to move to Riverside because of its strong job market and vibrant atmosphere.
Riverside has an unemployment rate of 8.2%. The US average is 6.0%.
Riverside has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 26.7%, which is lower than the US average of 33.5%.
Tax Rates for Riverside
- The Sales Tax Rate for Riverside is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Riverside 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 Riverside
- The average income of a Riverside resident is $77,850 a year. The US average is $28,555 a year.
- The Median household income of a Riverside resident is $250,001 a year. The US average is $69,021 a year.