Quick facts: Waterbury, CT

Quick Facts

114.2
Cost of Living
above US average
115,016
Population
31.3
Crime Rate per 1000
above US average
$51,451
Median Income
below US average
$254,950
Median House Price
above US average
$2457
Average Rent
above US average
13%
Poverty Rate
above US average
4.5%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $51,451.

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Income Needed to Buy

βœ— Stretch
$80k/year
Based on $254,950 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $80k vs median $51,451
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Income Needed to Rent

⚠ Stretch
$105k/year
Based on $2457/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $105k vs median $51,451
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Waterbury, CT

Waterbury, located in the heart of Connecticut, is a vibrant city known for its rich industrial history and diverse community. Once a major center for brass manufacturing, Waterbury is often referred to as the "Brass City." The city features a mix of historical architecture and modern amenities, with a variety of parks and recreational areas, including the scenic Waterbury Green and the beautiful Lakewood Park. Waterbury is served by multiple educational institutions, including the University of Connecticut's Waterbury campus, providing residents with access to higher education. The city's cultural scene is highlighted by attractions such as the Timexpo Museum, which celebrates Waterbury's history, and the Palace Theater, showcasing performing arts. The local economy has diversified over the years, with healthcare and education now playing significant roles. Waterbury is well-connected by major highways and public transportation, making it accessible for commuters. Overall, Waterbury embodies a unique blend of history, culture, and community spirit, offering a rich living experience for its residents.

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