The 20 Richest Towns in Connecticut
What determines the overall wealth of a city? Inflation-adjusted household income is one of the factors. The Census ranks individual city wealth by a formula that averages the household incomes, including the adjusted gross income and the average household income. It’s the basis on which we chose the 20 richest towns in Connecticut, and the results might surprise you.
20. West Simsbury, CT Annual household income: $109,590
West Simsbury has 151,104 residents as of 2022. It’s in Hartford County. The unemployment rate is 3%, which beats the state average by 4.1%. The demographics data shows that 88.37% of the residents are white, with 83.9% of the public schools showing a student population that is 83.9% white with excellent test performance scores. The average commute time for workers is 26.5 minutes, suggesting plenty of local jobs in the city’s economy. West Simsbury is classified socioeconomically as an “upper-middle-class zip code compared to other zip codes in Connecticut.” The percentage of students eligible for participation in reduced or free lunch programs is 32.7%, which is low compared to many other cities in the state.
19. South Glastonbury, CT Annual household income: $135,596
South Glastonbury is a small town with a growing population ranging from 4848 to 5651. The town is partly in Hartford County, with some areas in Middlesex County. The Upper Middle-Class neighborhood has an unemployment rate of 2.8% in its 06073 zip code compared to the Harford County rate of 6% and the state rate of 4.01%. It’s also far below the national average rate of 3.9%. Most of the residents are of white ethnicity, with only 6.1% of students in the public schools eligible for free or reduced lunch. However, test score performance in the public school system gets a poor ranking. South Glastonbury’s Census results show a total of 2038 households in the town. The average commute time from home to work is 23.6 minutes, suggesting ample employment opportunities in South Glastonbury.
18. COS COB, CT Annual household income: $136,261
COS COB is a Fairfield county city that extends to the border of the Stamford city limits. It’s a socioeconomically Upper Middle-Class city with a median household income of $136,261. Jobs are plentiful in the area, with the working Population gainfully employed except for just 3.5%. The unemployment rate is lower than the state rate of 4.1% and the national rate of 3.9%. Citizens of COS COB have an average commute time from home to work of 31.9 minutes, suggesting they don’t need to travel far for work. The 2010 Census revealed a growth from 6.751 residents to 7,150, showing that the town is gaining its population base. The community is predominantly white at 75.45% but is becoming more ethnically diverse than some of its neighboring towns, with a public school demographic of 68.9% white students. School test performance scores are above average, and 9.2% of students are eligible for free or reduced lunches at school.
17. Fairfield, CT Annual household income: $139,122
Fairfield is a moderate-sized city in Fairfield County. It has a population of 33,900 residents. The Census revealed that 87.21% of the people living in the city are white, with 80.8 of students in the public schools listed as white. The unemployment rate for the city is 3.6%, compared to the state average of 4.1%, and they’re doing well in securing work. The average commute time from home to work is 31 minutes. Test performance scores in public schools are ranked as excellent. The average price of a home is $611,500, nearly three times the national average. If you choose to rent an apartment, expect to pay an average of $1,866 monthly. If you can afford a mortgage, it’s the better way to go in Fairfield. The streets are safe, and the schools are highly rated. Although the town is small, you’ll find plenty of recreational venues, cafes, restaurants, and shops.
16. Redding, CT Annual household income: $140,995
Redding, Connecticut, is a small city with a population of 9,110. The average adjusted gross income is $222,660. It’s located in Fairfield County under the 06896 zip code, sharing a border with Danbury and Georgetown. It’s an Upper-Middle-Class town with a median household income of just under $141K. 91.82% of the Population is white, with 87.8% white students in the public school system. The unemployment rate is 3.2%, compared to the Fairfield County unemployment rate of 5.2%. The city has grown over the past decade, increasing from 8,223 residents to 9,110. The average commute time from home to work is 35.7 minutes. 4.2% of public school students are eligible for free or reduced lunch, and test performance in the public schools for Redding is excellent.
15. West Hartford, CT Annual household income: $142,197
Zip Data lists West Hartford as one of the 20 richest cities in the state. It’s come a long way in the past 10 years since the last Census. The average household income umped over $20k, but the cost of housing has also risen in this desirable community. Renters pay an average of $1,361 per month. If you plan to buy a home in the city, the median home value is $330,100. Living in West Hartford is not cheap, but the perks are worth the cost with its safe neighborhoods, upscale shopping and dining venues, and more.
14. Easton, CT Annual household income: $166,875
People who live and work in Easton have a slightly higher income level. The city is in Fairfield County, with Census Bureau statistics that list the racial majority as 89.61% white, with similar demographics in the public schools. The unemployment rate, as of 2022, is 3.3%, far lower than the state unemployment rate of 4.1%. Jobs are plentiful in the city with a population of 7,453. It’s a small, affluent community where the average commute time for workers is 35.5 minutes, and test performance scores for public school students are excellent.
13. Essex Village, CT Annual household income: $172,302
In Essex Village, the median income for married people with families is $172,302 for married people with families, and slightly lower for unmarried with families. Most of the residents have gainful employment with high-paying jobs. The staggering low unemployment rate for 2022 is 0.4%, far below the county, state, and national averages for unemployment rates. The current Population is 2,601, with an annual growth rate of 0.35%. Essex Village is a highly desirable community to live in for the affluent.
12. Stamford, CT Annual household income: $152,102
Stamford is a city in Fairfield County with a population of 14,499. It’s smaller than Ridgefield but slightly more affluent. The unemployment rate is slightly higher at 3.6%, with the average commute time for workers at 31.3 minutes. Demographic studies show that 81.64% of the residents are white; however, only 42.4% of the children in the public schools are white, suggesting that the city is starting to diversify its demographic Population. Test performance scores in public schools are above average, slightly lower than in Ridgefield. 45.7% of the children in public schools are eligible for free or reduced lunch programs.
11. Avon, CT Annual household income: $187,080
Point 2 Point Homes picked up on the city of Avon, whereas many other demographics lists didn’t give them a second look. This affluent community is the home of 18,410 residents with an average age of 45 years, with slightly more females than males. 79.4% of the community are US-born citizens, with 11.73% born in other countries. Avon’s diversity rate is better than most of its neighboring communities. The majority are white-collar workers, just 4.96% in the blue-collar classification. Avon is the home of 1,206 entrepreneurs. Some work at private companies and governmental institutions. We love the detailed statistics that give us a clear snapshot of the socioeconomic dynamics of the city.
10. Wilton, CT Annual household income: $193,292
Wilton steps it up a notch with an upper-class community that is home to a close-knit community, schools that offer prestigious educational opportunities for students, big homes, and safe streets. The unemployment rate is just 3.1%, with an average commute of 33 minutes. The city is within a short distance of New York City, which offers residents all the amenities of the big city without the need to live there. Wilton has impressive parks and rec programs to provide residents with many green areas to enjoy public events or family picnics. The average value of a home is just under $800,000, which is on par with the average household income. It’s a desirable place to live if you can afford the costs. Wilton is undoubtedly a wealthy community and one of the top ten richest in the state of Connecticut for 2022. It’s also home to the state’s only national historic site, Weir Farm.
9. New Cannan, CT Average household income: $200,203.00
Living in New Canaan is like being surrounded by family. The communities in this city are close, and they love to sponsor community events for the residents and visitors. You’ll find parades, festivals, and occasional pop-up art exhibitions. People love to enjoy life and share it with family, friends, and neighbors. You catch that vibe when you visit New Canaan, but it’s not cheap to live there. The median household income is just over $190K per year. If you plan to buy a home in New Canaan, the average price is $1.36 million. There’s a premium on living in a safe neighborhood with all the trappings of a luxurious existence. Name Census collected information for the past five years and breaks the average income levels by age group. The 24 to 44 age group earns an average of $230,278 per year, with the 45 to 64 group bringing in $242,039—retired residents 65 plus an average of $131,261 per year for the last calculations in 2020.
8. Woodbridge, CT Annual household income: $205,541
Woodbridge is another Connecticut hamlet passed over by statisticians pointing out the most affluent cities in Connecticut. It’s among the top ten. Point 2 Point Homes advises that the small community of 8,779 people has an average household income of more than $200k per year. Most homes were built in 1965 when the community saw its largest growth spurt. It’s not difficult to find a home to buy or rent, as there are 3,122 homes in the town, with just 2,935 currently occupied. 89.3% of the homes are occupied by their owners, with 10.7% as rentals. The average home value is $466,000, making it one of the more affordable rich neighborhoods to buy a house. Rentals are much higher than most, with an average of $2,443 per month for non-homeowners.
7. Ridgefield, CT Annual household income: $206,560
Married families in Ridgefield average an annual household income of 182,679, but the average is over $206k. The small community has a population of 7,586 residents. According to the most recent data, the number of people living in Ridgefield has decreased by 0.7% since 2020. The poverty rate is remarkably low at 1.12%, with median rent at $1,832 per month. The average home value is $650,400. Fairfield County town is one of the most desirable places to live if you have the financial means. The community is known for being tight-knit with safe streets, low unemployment rates, and top-notch schools. We suspect that the recent pandemic took a toll on residents who lost their jobs, with some forced to relocate for more affordable housing.
6. Riverside, CT Annual household income: $215,791
Suburbs 101 confirms that Riverside is a wealthy suburb of the Town of Greenwich. It’s one of the area’s wealthiest communities, with the median annual household income at over $215k. The most affluent settled in the area to enjoy its beautiful beaches and other luxury amenities. It’s a great place to raise kids, with top-rated schools and safe streets. Residents enjoy a short train ride to New York City for shopping and entertainment, then return to the safety and comfort of this beautiful community. The Population is 8,843 in this close-knit community. There’s usually something going on for recreation and entertainment in the town and surrounding areas. There are plenty of shopping and fine dining venues in Riverside. Living there isn’t cheap, though. 20% of the residents pay rent, with 80% owning their homes. The median home value is steep at $1,382,800 for 2022.
5. Westport, CT Annual household income: $222,535
Westport is in the top five most affluent cities in Connecticut for 2022. It is a Fairfield County city home to many wealthy residents who enjoy private country clubs, yacht clubs, and pristine beaches. The Population is 27,141, with an average rent of $2,724 if you’re not a homeowner. Only 15% of the residents rent because most people there are homeowners. The average home value is $1,150,400. It’s a medium-sized town that has grown to become one of the most desirable places to live in Connecticut. The unemployment rate is low compared to the state average, and commuters spend an average of 44 minutes driving to work. 78% of them have at least a bachelor’s degree.
4. Weston, CT Annual household income: 222,535
Weston is in Fairfield County. It’s a small town of 10,354. The high demand is getting harder to find places for sale. 96% of the residents are homeowners with a median home value of $868,200. Only 4% of the homes in the community are available for rent. Most residents have at least a bachelor’s degree or higher and drive an average of 42 minutes to get to work. The city has magnificent homes with long driveways accessible through winding country roads and beautiful landscapes. The schools are among the best in the state, making them the ideal place to raise a family.
3. Old Greenwich Annual household income: $222,794
You’ll find a community of 1,300 Wall Street execs and affiliates living in Old Greenwich, Connecticut. It’s a haven for New York’s very rich to escape the hustle and bustle of big money firms and agencies. They found this lovely old city during the Covid-19 pandemic and relocated for a safer and serene place to live. The seaside neighborhood is a part of the Town of Greenwich, nestled on the beautiful waterfront with homes on its private beaches and all of the quaint little shops and dining venues the heart could desire. The beautiful neighborhood is small, just 6,962, after the influx of rich business professionals. The average home value is $1,561,200, with 84% of the residents owning their own homes. Just 16% of the homes are rentals. Most of the townspeople hold bachelor’s degrees or higher. They’re well educated, and many residents commute to the city for their jobs with an average travel time of 38 minutes.
2. Darian, CT Annual household income: $232,523
Darian will be the second wealthiest city in Connecticut in 2022. It’s a city of high-earners who live the high life enjoying their private yacht and country clubs, with access to the city’s pristine beaches. 83% of the residents have a bachelor’s degree or higher, and the unemployment rate is low. With a median household income just shy of a quarter-million a year, Darian is an exclusive place to live. If you plan to rent in the city, plan on paying double the national average as apartments and homes go for $2,469 per month. the average home value is $1,471,700. 87% of the residents own their homes, and just 13% rent. Darian is an entire little town, and those that call it home enjoy life’s best with quaint shops, great places to dine, and plenty of recreational, shopping, and community event opportunities.
1. Southport, CT Annual household income: $310,831
Most websites that report demographics for Connecticut list Darian, as the richest city in the state, but World Population confirms that Southport jumped into the number one spot with an incredible average household income of $310,831. The Population for 2020 was 1,797, but it has grown to 1,839 for 2022. The average renter pays $2,336 per month. The median home value is $766,900, making it more affordable than some other affluent communities. The average age of residents is between 56 to 57 years, with a white demographic of 89.65%, 5.26% for people claiming mixed race ethnicity, 3.57% African American and 1.54% Asian American.