Quick facts: Hartford, CT

Quick Facts

110.5
Cost of Living
above US average
120,686
Population
37.48
Crime Rate per 1000
above US average
$41,841
Median Income
below US average
$340,000
Median House Price
above US average
$2009
Average Rent
above US average
20%
Poverty Rate
above US average
4.9%
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 $41,841.

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Income Needed to Buy

βœ— Stretch
$107k/year
Based on $340,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $107k vs median $41,841
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Income Needed to Rent

⚠ Stretch
$86k/year
Based on $2009/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $86k vs median $41,841
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hartford, CT

Hartford, the capital city of Connecticut, is rich in history and culture. Situated on the Connecticut River, Hartford is known for its contributions to the insurance industry, earning it the nickname "Insurance Capital of the World." The city is home to several major insurance companies, contributing significantly to its economy. Hartford features a variety of historical landmarks, including the Connecticut State Capitol, an architectural gem, and the Mark Twain House, where the famed author lived and worked. The city also boasts vibrant arts and culture scenes, with venues like the Bushnell Center for the Performing Arts hosting concerts and theater productions. Outdoor enthusiasts can enjoy Hartford's parks, such as Bushnell Park and Riverfront Park, providing space for recreation and relaxation along the river. The city is home to the Trinity College and University of Hartford, adding to its educational landscape. Hartford's diverse population and community events reflect the city's rich tapestry of cultures. With a mix of modern life and historical significance, Hartford offers a unique experience for residents and visitors alike.

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