Quick facts: Niantic, CT

Quick Facts

114.2
Cost of Living
above US average
3,497
Population
3.43
Crime Rate per 1000
below US average
$82,398
Median Income
above US average
$479,000
Median House Price
above US average
$2842.05
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
Unemployment Rate
below 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 $82,398.

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Income Needed to Buy

βœ— Stretch
$150k/year
Based on $479,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $150k vs median $82,398
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Income Needed to Rent

⚠ Stretch
$122k/year
Based on $2842.05/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $122k vs median $82,398
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Niantic, CT

Niantic is a charming village located within the town of East Lyme in New London County, Connecticut. Situated along the shores of Long Island Sound, it boasts a picturesque coastline and a rich maritime heritage. Known for its beautiful beaches, such as McCook Point Park and Niantic Bay, this area is a popular destination for both locals and tourists seeking outdoor activities, including swimming, fishing, and boating. The village features a quaint downtown area with a variety of shops, restaurants, and seasonal events that foster a close-knit community atmosphere. Niantic is also home to the historic Niantic River, which plays a crucial role in local ecology and recreation. The nearby scenic hiking trails in the surrounding areas enhance its appeal for nature enthusiasts. Niantic is characterized by a family-friendly environment, excellent school systems, and plenty of recreational opportunities, making it an ideal spot for families and retirees alike. With its blend of natural beauty, small-town charm, and cultural richness, Niantic offers a unique coastal living experience in Connecticut.

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