Colchester, Connecticut (zip code 06415) is a small town with a population of 15,849 according to the 2010 census. Located in New London County and situated on the banks of the Salmon River, Colchester is an attractive suburban area with many attractions and outdoor activities for its residents to enjoy. The median cost of rent for a two-bedroom apartment in Colchester is $1,640 which is higher than the national average of $1,430. Groceries are also more expensive here than elsewhere as the Grocery Cost Index in Colchester is 106 compared to 100 in the US. \nThe economy of Colchester is primarily driven by local businesses such as Aarons Home Furnishing Solutions Inc., Blockbuster Video, Brumbley's Computer Services Inc., Lakewood Building Maintenance LLC and Marcus Communications. These companies provide employment opportunities to local residents and contribute significantly to Colchester’s economy. Overall, while it may be more expensive than other areas in terms of rent and groceries, living in Colchester provides access to several outdoor activities and vibrant local businesses making it an ideal place to call home.
Colchester (zip 06415) has an unemployment rate of 6.8%. The US average is 6.0%.
Colchester (zip 06415) has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 30.3%, which is lower than the US average of 33.5%.
Tax Rates for Colchester (zip 06415)
- The Sales Tax Rate for Colchester (zip 06415) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Colchester (zip 06415) 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 Colchester (zip 06415)
- The average income of a Colchester (zip 06415) resident is $48,861 a year. The US average is $37,638 a year.
- The Median household income of a Colchester (zip 06415) resident is $104,754 a year. The US average is $69,021 a year.