Lower Connecticut River Valley Planning Region Market Trends
Economic Outlook
Average Taxable Income per Tax Return in Lower Connecticut River Valley Planning Region, CT over the last 1 years
Despite being a recent trend, the Lower Connecticut River Valley Planning Region in Connecticut has seen an impressive average taxable income per tax return of $108,047.50 in 2021. This figure underscores the financial health and earning potential within the region, making it an attractive locale for potential investors and new residents looking for economic stability and growth opportunities.
Average Total Tax Liability Per Tax Return in Lower Connecticut River Valley Planning Region, CT Over the Last 1 Years
In 2021, the average total tax liability per tax return in the Lower Connecticut River Valley Planning Region, Connecticut was $20,166.62. This substantial figure highlights the region's economic growth and the potential for a solid contribution to public services and infrastructure. It's an attractive area for investors and homebuyers who value well-supported community amenities and services derived from a healthy tax base. The rising tax liability also suggests increasing property values and income levels, making it a promising locale for future property developments and investments.
Cost of Living in Lower Connecticut River Valley Planning Region
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Safety trends & Data
Property Crime Trends in Lower Connecticut River Valley Planning Region, CT Over the Last 5 Years
Property crime trends in the Lower Connecticut River Valley Planning Region, Connecticut, have generally shown a downward trajectory over the last five years, which might be reassuring for prospective investors and residents. The number of burglaries dropped from 151.00 in 2018 to 69.00 in 2022, while larceny-theft incidents, although still significant, decreased to 540.00 from a peak of 787.00 in 2019. Notably, fraud arrests saw a considerable reduction from 112.00 in 2018 to 27.00 in 2022. However, motor vehicle thefts fluctuated but remained relatively high, which could be an area of concern for insurance agents and property developers. Overall, the trends may signal improvements in community safety and security, crucial factors for real estate agents and appraisers.
Demographics
The Lower Connecticut River Valley Planning Region in Connecticut shows a slight gender imbalance with roughly equal representation of males and females. The majority of residents have a high school diploma or higher, with many holding bachelor's or graduate degrees, signaling an educated population. Residents aged 55 to 64 form the largest age cohort, which may imply upcoming shifts in workforce and healthcare needs. The racial makeup is predominantly White, but there is noticeable diversity... Read more
