Connecticut homeowners rely on Cliffco Mortgage to help them acquire the home of their dreams.
According to the 2010 Census, Connecticut has the highest per-capita income in the United States and highest median household income, making it a lively market for home ownership. Known as the “Constitution State” and the “Nutmeg State” the state blends natural beauty with sought-after suburbs, scenic small towns and close proximity to New York City.
Finance and insurance is the largest industry in Connecticut at 16.4% with real estate close behind at 15% of the state’s Gross Domestic Product. Major real estate industry employers include Realogy and William Raveis Real Estate.
In addition to well-known Connecticut residential areas like Bridgeport, Bristol, Danbury, Darien, Middletown, New Canaan, New Haven, Norwalk, Stamford, Stratford and Waterbury, the areas below are attracting attention from those interested in buying a home. To better determine your financial plans, use Cliffco’s Mortgage Calculator while considering towns like these:
Cos Cob is an incorporated subset of Greenwich that has a reputation for being a small, tight-knit community. Located on the water, Cos Cob is just a few miles away from Stamford and the New York state border, making it very attractive to commuters who take Metro-North from Cos Cob to Grand Central Station. Cos Cob Harbor also includes the islands Great Captain Island and Island Beach.
East Hampton might bring up images of celebrity enclave in Long Island but its Connecticut namesake is surprisingly affordable for residents, though actual home costs aren’t the cheapest in the state (nor are they the most expensive). It’s a haven for nature lovers thanks to Hurd State Park, Meshomasic State Forest and River State Forest, all of which are in East Hampton. It also has Comstock’s Bridge, the last remaining covered bridge in eastern Connecticut.
Glastonbury Center provides natural beauty with its proximity to Meshomasic State Forest and the sophisticated entertainment of state capital Hartford, which is only 10 miles away. Glastonbury Center also has a number of downtown improvement and streetscaping projects that should be completed by 2020.
Greenwich is ranked as one of the most affordable places to live in Connecticut based on an analysis of food and utility costs, misc. expenses like repairs and entertainment, median home price, unemployment rank and adjusted median income, when compared to the rest of the state. Greenwich is also ranked as the wealthiest town in Connecticu based on its Adjusted Equalized Net Grand List per Capita, which is a measure of personal wealth. It’s also the largest town on Connecticut’s Gold Coast.
Kensington is another Connecticut town that pairs scenic beauty with arts and popular entertainment to create the best of both worlds. Kensington’s Berlin Fair features everything from concerts and exhibits to livestock shows. Residents can also hike at nearby Sunset Rock State Park or Ragged Mountain Memorial Reserve or go to nearby New Britain for its symphony orchestra, minor baseball team, the Rock Cats or the Museum of American Art.
Orange is just a few miles from New Haven and is well known for its local country fair. It also fosters a good economic climate and includes among its business the North American headquarters for the candy company Pez, Southern Connecticut Gas and the United Illuminating Company. A 2015 report ranked Orange as the best place to live in Connecticut.
Simsbury Center is part of the town of Simsbury that is growing in popularity with home buyers and looking at its benefits, it’s easy to see why. It has a historic district with buildings that go back to the 18th century and three state forests – Darling-Hilles, Massacoe and Talcott Mountain. Simsbury Center is the first town in the state labeled “bicycle friendly” by the League of American Bicyclists. Plus it has the Simsbury Meadows Performing Arts Center which features entertainment ranging from the Hartford Symphony Orchestra to Lynyrd Skynyrd and Willie Nelson.
Southward Acres is an area within the larger town of Enfield, which is the U.S. headquarters for the popular toy, Lego. Located in the northern part of Connecticut, it’s within driving distance of both Hartford and Springfield, Mass. Southward Acres has some of the most reasonable home prices in the state, often requiring less than 30% of the buyer’s income.
Terryville is another location with affordable housing stock. Located near Bristol and Waterbury, it provides easy access to both cities for jobs and recreation. Terryville is also the home of the Lock Museum of America
Trumbull is located five miles from Connecticut’s largest city, Bridgeport, and combines small-town New England charm with retail, commercial and light manufacturing businesses. For home buyers with or wanting to start a family, Trumbull’s education programs are very appealing from a highly ranked central high school to the Trumbull Business Education Initiative, Regional Agriscience and Biotechnology Program, and state-of-the-art labs for organic chemistry and plat science.
Windsor Locks is named for a set of canal locks from the mid-19th century. Homeowners looking to save money and have great accessibility enjoy this town just outside of New Haven. It has relatively low home ownership costs and is available by land, water (the Connecticut River) and air (Bradley International Airport).
Cliffco Mortgage knows the Connecticut market. Call today at (516) 231-1654 or (718)-846-9000 or use our Short Application for all of your home financing needs, including mortgages, refinancing, reverse mortgages, FHA loans and more.