Newtown, CT (zip code 06470) is an affluent suburban town in Fairfield County, Connecticut. It is located approximately 12 miles east of Danbury and 32 miles from Hartford. The most common type of residence is a detached house with four bedrooms and two bathrooms. The average two-bedroom rent in Newtown is $1,810 compared to the US average at $1,430. Groceries have higher costs here than in the US on average with a Grocery Cost Index of 106 versus 100 in the US.
The town has a strong business sector with many large companies present such as Webster Bank, Nuvance Health, Owens Corning and Priceline Group having offices there. Prices for goods and services are generally high due to its affluent population and proximity to New York City and other major metropolitan areas. All this makes Newtown one of the most expensive places to live in Fairfield County with a high cost of living that may be difficult for some people to afford.
Newtown (zip 06470) has an unemployment rate of 8.2%. The US average is 6.0%.
Newtown (zip 06470) 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 Newtown (zip 06470)
- The Sales Tax Rate for Newtown (zip 06470) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Newtown (zip 06470) 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 Newtown (zip 06470)
- The average income of a Newtown (zip 06470) resident is $50,734 a year. The US average is $28,555 a year.
- The Median household income of a Newtown (zip 06470) resident is $135,703 a year. The US average is $69,021 a year.