Zip 06042 (Manchester, CT) Economy


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Manchester, Connecticut is a vibrant city located in Hartford County. The median 2 bedroom rent in Manchester is $1,910, which is significantly higher than the US median of $1,430. This is likely due to the strong local economy, where major employers like Pratt & Whitney, Aetna Insurance Company and Travelers Insurance have their headquarters. The Grocery Cost Index in Manchester is 104 versus 100 in the US making the cost of food more expensive than average. All this taken into account, Manchester still has a relatively low cost of living compared to other cities in Connecticut and across the country.

Manchester (zip 06042) has an unemployment rate of 8.0%. The US average is 6.0%.

Manchester (zip 06042) has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 29.6%, which is lower than the US average of 33.5%.

Tax Rates for Manchester (zip 06042)
- The Sales Tax Rate for Manchester (zip 06042) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Manchester (zip 06042) 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 Manchester (zip 06042)
- The average income of a Manchester (zip 06042) resident is $35,858 a year. The US average is $28,555 a year.
- The Median household income of a Manchester (zip 06042) resident is $82,568 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyManchester, ConnecticutUnited States
  86
  -6.0%-6.2%
  29.6%33.5%
  6.4%6.2%
  5.0%4.6%
  $43,953$37,638
  $82,568$69,021
  $91,250$85,028
  Population by Occupation
  0.0%1.2%
  0.4%0.5%
  3.7%6.8%
  12.6%10.0%
  2.6%2.5%
  9.4%11.0%
  4.6%4.8%
  0.5%0.8%
  2.8%1.9%
  9.4%4.7%
  1.2%1.9%
  12.7%7.6%
  0.0%0.1%
  3.7%4.2%
  8.7%9.3%
  13.1%14.0%
  1.1%2.1%
  6.1%7.0%
  3.7%4.8%
  3.7%4.7%
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