Zip 06031 (Falls Village, CT) Economy


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United States / Connecticut / Torrington Metro Area / Litchfield County / No City / Falls Village (zip 06031)
Falls Village, CT (zip code 06031) is a small town located in the northwest corner of Connecticut. It is a rural area with a population of 1,188 according to the recent census report. The median rent for a two bedroom house in Falls Village is $1,350 which is slightly lower than the US median rent at $1,430. Grocery costs are also more cost effective here with an index rating of 108 versus the national average of 100.
Falls Village has plenty to offer for those seeking outdoor activities. Housatonic River Outfitters provides kayak and canoe rentals as well as fishing gear for rent or sale and guided tours on the Housatonic River. For hikers and nature lovers there are numerous trails available through Lime Rock Park and Macedonia Brook State Park.
The arts are alive in Falls Village with The Hotchkiss School of Music hosting annual concerts and other musical events throughout the year open to public attendance. Trinity Episcopal Church offers regular evening services accompanied by their beautiful pipe organ music. There's also a few local shops like Grandma's Attic which sells antiques and collectibles from all over New England, as well as The Book Barn, Falls Village Coffee House, Double Play Records & Comics, and Mountain Dog Pet Supplies providing goods and entertainment for locals and visitors alike.

Falls Village (zip 06031) has an unemployment rate of 7.9%. The US average is 6.0%.

Falls Village (zip 06031) 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 Falls Village (zip 06031)
- The Sales Tax Rate for Falls Village (zip 06031) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Falls Village (zip 06031) 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 (zip 06031)
- The average income of a Falls Village (zip 06031) resident is $53,468 a year. The US average is $28,555 a year.
- The Median household income of a Falls Village (zip 06031) resident is $84,167 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyFalls Village, ConnecticutUnited States
  7.96
  -6.4%-6.2%
  25.5%33.5%
  6.4%6.2%
  5.0%4.6%
  $58,794$37,638
  $84,167$69,021
  $99,531$85,028
  Population by Occupation
  2.6%1.2%
  0.9%0.5%
  9.4%6.8%
  7.5%10.0%
  1.5%2.5%
  10.8%11.0%
  1.3%4.8%
  0.9%0.8%
  4.2%1.9%
  3.9%4.7%
  1.0%1.9%
  16.8%7.6%
  0.0%0.1%
  1.7%4.2%
  15.2%9.3%
  9.7%14.0%
  3.8%2.1%
  2.0%7.0%
  4.7%4.8%
  2.3%4.7%
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