Western Connecticut Planning Region Market Trends
Economic Outlook
Average Taxable Income per Tax Return in Western Connecticut Planning Region, CT over the last 1 years
The average taxable income per tax return in the Western Connecticut Planning Region was $287,436.25 in 2021. This figure highlights the region's affluence, making it an attractive area for potential investors, property developers, and those considering a move to a financially robust locality. High incomes typically correlate with strong local economies, good schools, and well-maintained public services, which collectively enhance the quality of life.
Average Total Tax Liability Per Tax Return in Western Connecticut Planning Region, CT Over the Last 1 Years
In the Western Connecticut Planning Region, the average total tax liability per tax return for 2021 stands at $80,278.86. This significant tax burden highlights the region's economic dynamics and cost of living, making it a crucial consideration for potential investors, residents, and property developers aiming to understand the financial demands and opportunities in this area of Connecticut.
Cost of Living in Western Connecticut Planning Region
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Safety trends & Data
Property Crime Trends in Western Connecticut Planning Region, CT Over the Last 5 Years
Property crime in the Western Connecticut Planning Region has shown some interesting fluctuations over the last five years. While larceny-theft remains the most prevalent issue, its numbers notably dipped to 572 in 2020 from over 1,100 arrests in 2018 and 2019, before stabilizing around the 600 mark in subsequent years. Motor vehicle theft and burglary incidents saw consistent decreases each year, with burglary arrests dropping from 202 in 2018 to 118 in 2022. On the other hand, there has been a noticeable increase in arson cases, surging to 25 in 2022 from just 2 in 2019, which might be a potential concern for property appraisers and insurers. Embezzlement and fraud have generally remained low, making the area moderately stable in financial crime perspectives. For those considering investing, moving, or living in the region, these trends suggest a mixed but generally improving safety climate.
Demographics
Western Connecticut's population skews slightly female and shows a range of educational achievements, with a significant portion holding at least a Bachelor's degree. The age distribution suggests a balanced mix but with higher numbers in the working-age brackets (25 to 64 years). Racially, the region is predominantly White, with African Americans and Asians representing the largest minority groups. This varied demographic landscape is useful for tailoring social services, educational programs,... Read more
