Connecticut is no one’s idea of a poor state. In terms of per capita income, it beats the nearest competition by a huge margin of almost $4000. Middle-class and affluent, finding somewhere that doesn’t test the limits of your credit card can be a chore, particularly if you reserve your home finding to Fairfield County, a place that boasts some of the wealthiest communities in the entire US. As to which are the very wealthiest, find out now as we count down the 10 richest cities in Connecticut.
There’s no law saying you have to be rich to live in Fairfield, but it does help, especially if you want to buy a property at some point. The average family home retails for a massive $611,500, almost three times the national average. Renting is a little cheaper, but not by much – expect to part with around $1,886 per month for an apartment. In fairness, you do get a lot of return for your investment. The crime rate is practically non-existent, the median income is a stonking $139,122, the schools are some of the best in the state, and despite its relatively small size, it has a huge selection of restaurants, shops, cafes, and recreational venues to enjoy.
Easton is a cute little city located just a short hop, skip, and a jump away from the amenities and attractions of the New York City metro area. The community is close-knit and safe, and while it’s not exactly the most buzzing of places, its calm serenity and lovely scenery are attractions in their own right. If you dream of the quiet life, it’s ideal. It’s less ideal, however, if your bills are already bigger than your income. With an average home price of $641,500, mortgage payments here are no laughing matter… although when you factor in the $157,448 median income, they suddenly get a lot more reasonable.
According to homes.com, Ridgefield is one of the most expensive places in Connecticut to buy a home. If you’re in the market for a decently sized family home, don’t expect to get much change from $1,283,146 – a staggering amount, even by Connecticut’s standards. In fairness, the high prices aren’t unjustified. With its safe streets, world-class schools, plentiful amenities, and tempting $163,945 median income, it’s a great place to call home if your bank balance meets the challenge.
Southport isn’t the kind of city where keeping up with the neighbors comes cheaply. With a median income of $187,917 and a median home value of $703,200, this is a city of big paychecks, big houses, and big cars. Not that there isn’t more to it than that… with a vibrant food scene, a charming historic district, gorgeous parks, and a great selection of shops, it offers premium living at an admittedly premium price tag.
6. New Canaan
If you like close-knit communities with family-friendly vibes, well-respected schools, beautifully maintained parks, top-notch libraries, world-class restaurants, and a host of activities to get involved in (parades, festivals, pop up art exhibitions, shows… the list goes on), then you’re going to love New Canaan. What you might love just a little less is how excruciatingly expensive it is to live here – although there’s an (admittedly very small) selection of housing options on the ‘reasonable’ end of the spectrum, there are enough hugely expensive properties to push the median home value to a whopping $1,355,800. On the plus side, the median income of $190,227 is equally jaw-dropping.
An average home value of just a little under $800,000 might seem like a fortune to most of us, but to the residents of Wilton, it’s little more than small change, at least if the median income of $193,292 is anything to go by. Expensive homes and big salaries aren’t the only things the population of this small city get to enjoy: with New York City just a stone’s throw away, a close-knit community, prestigious schools, safe streets, and plenty of green areas, it’s every bit as desirable as it is wealthy.
According to Area Vibes, the cost of living in Westport is 82% higher than the Connecticut average. Considering Connecticut isn’t the cheapest state in the US to start with, that alone should give you some idea of just how rich this little city is. When you learn that the average cost of a single-family home is $1,150,400 and the median income is $206,466, you’ll be left in no doubt.
If the thought of paying $868,200 for a home makes you feel queasy, you might want to give Weston a miss. If the idea of paying $2,724 in rent each month makes you feel the same, definitely scratch it from your list. The upside to all those sky-high prices is a median income that ranks as one of the highest in the state. If you can swallow up those property prices, there’s a good chance you’ll be rewarded with an income in the region of $222,535. With salaries like that, most residents are having no problem in keeping up with those monster mortgage re-payments.
2. Old Greenwich
Whenever any publication compiles a list of America’s richest cities, there’s one name you can always count on seeing – Old Greenwich. In the last year, it’s got even wealthier thanks to the influx of wealthy Wall Street types that have abandoned Covid stricken New York for the attractions of this exclusive enclave – according to Business Insider, over 1300 of them have made the move since the pandemic started. As a sign of just how rich this coastal Connecticut city is, the median income is a massive $321,377.
If you want to live in Darian, you’d better start saving. With a median household income of $1,471,700, this is no place for people on a shoestring budget. If you thought that renting would help cut costs to a more reasonable level, think again – according to Niche, the average cost of renting a home in this exclusive little city is over twice the national average at $2,469. The bright side? A median income that sits at a mammoth $352,839.