Quick facts: Prospect, CT

Quick Facts

114.2
Cost of Living
above US average
9,790
Population
4.6
Crime Rate per 1000
below US average
$85,000
Median Income
above US average
$379,900
Median House Price
above US average
$2816.25
Average Rent
above US average
5%
Poverty Rate
below US average
2.1%
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 $85,000.

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Income Needed to Buy

βœ— Stretch
$119k/year
Based on $379,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $119k vs median $85,000
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Income Needed to Rent

⚠ Stretch
$121k/year
Based on $2816.25/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $121k vs median $85,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Prospect, CT

Prospect is a quaint town located in New Haven County, Connecticut. Known for its suburban charm, Prospect offers a blend of rural landscapes and modern amenities. The town is characterized by its rolling hills, picturesque parks, and a closely-knit community atmosphere. With a population of around 9,000 residents, it is ideal for families seeking a peaceful environment. Education in Prospect is provided primarily through the Region 16 School District, which serves both Prospect and the neighboring town of Beacon Falls. There are also several private schools in the area, offering quality education options. The town features various recreational opportunities, including parks such as the beautiful Prospect Town Green and the larger Naugatuck State Forest, which is perfect for hiking and outdoor activities. Community events are common, fostering a strong local spirit. Located just 35 miles from New Haven and 80 miles from New York City, Prospect offers convenient access to urban amenities while maintaining its small-town feel. With a combination of scenic beauty, community involvement, and accessibility, Prospect is a desirable place to live for those looking to enjoy Connecticut's picturesque landscape.

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