Norwalk, CT (zip code 06850) has a median two-bedroom rent of $2,480 per month. This is much higher than the national average of $1,430. In addition to higher rent cost, Norwalk is also more expensive for groceries as the Grocery Cost Index in Norwalk is 106 versus 100 in the US. Despite these higher costs, Norwalk is home to several large employers like Xerox Corporation and Priceline.com, which attract many skilled professionals and offer great career opportunities. Additionally, Norwalk hosts smaller organizations such as The Lockwood Mathews Mansion Museum and O’Neill’s Pub & Restaurant that provide fun recreational activities and contribute to the city's economy.
Norwalk (zip 06850) has an unemployment rate of 8.5%. The US average is 6.0%.
Norwalk (zip 06850) has seen the job market decrease by -7.5% over the last year. Future job growth over the next ten years is predicted to be 27.7%, which is lower than the US average of 33.5%.
Tax Rates for Norwalk (zip 06850)
- The Sales Tax Rate for Norwalk (zip 06850) is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Norwalk (zip 06850) 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 Norwalk (zip 06850)
- The average income of a Norwalk (zip 06850) resident is $59,082 a year. The US average is $37,638 a year.
- The Median household income of a Norwalk (zip 06850) resident is $106,259 a year. The US average is $69,021 a year.