Northwest Hills Planning Region, CT: income, rent and loan options

A quick profile of Northwest Hills Planning Region

With an estimated 113,216 residents (ACS 2020 to 2024), Northwest Hills Planning Region ranks 8th of 9 in Connecticut for population. It covers 787 square miles of land, or about 144 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. The Census Bureau counts 36 places in the county (19 incorporated, 17 census-designated); the largest is Bristol, with about 61,462 residents, or 54% of the county.

Employment and commuting in Northwest Hills Planning Region

By the Census industry count, 27% of employed Northwest Hills Planning Region residents work in education and health care and 12% in professional and administrative services. Compared with Connecticut, the county leans toward construction (10% against 6%). The survey's unemployment rate for Northwest Hills Planning Region averages 5.4% over 2020 to 2024 (state: 5.6%). About 71% drive to work alone and 18% have trips of 45 minutes or more.

Where long drives are the norm, a car repair is one of the most common surprise bills. A small repair fund can keep a breakdown from turning into a loan.

What Northwest Hills Planning Region households earn

Half of Northwest Hills Planning Region households take in less than $93,551 a year and half take in more, 2% below the Connecticut median of $95,781. That places it 3rd among Connecticut's 9 county-level areas.

Some 15% of households here live on less than $35,000 a year; 47% have six-figure incomes. 8.8% of residents fall below the federal poverty line (statewide: 10.0%). The Gini index of income inequality is 0.477 (0 is perfect equality). Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.

Renting and owning in Northwest Hills Planning Region

Median gross rent, utilities included, comes to $1,193 in Northwest Hills Planning Region versus $1,488 statewide. By the Census definition, 44% of Northwest Hills Planning Region renters are cost-burdened. With a median value of $335,600, a typical Northwest Hills Planning Region house costs 3.6 times what the median household earns in a year. The ownership rate is 76%. Median construction year: 1967.

In an owner-heavy county like Northwest Hills Planning Region, many borrowers can also choose a home equity loan or line of credit. Those can price lower but put the house on the line, so compare the two in writing; our personal loan vs. HELOC guide walks through it.

The counties around Northwest Hills Planning Region

Naugatuck Valley Planning Region is closest, 24 miles from center to center; the sixth, Hampden County, is 36 miles off. 1 of the six report a higher median household income than Northwest Hills Planning Region; Dutchess County is highest at $99,478 and Hampden County lowest at $71,306. The list crosses into Massachusetts, New York, where different lending rules and regulators apply.

Cities, towns and CDPs in Northwest Hills Planning Region

The table lists the 14 largest of 36 Census places in Northwest Hills Planning Region, by population. Together all 36 hold about 187,049 people, so roughly 0% of residents live outside any named place. Incomes vary by place: $165,120 at the median in Burlington, $48,214 in Canaan. Median rent ranges from $688 in Kent to $3,262 in Sharon. This guide covers each of the 36 places and the rural areas around them.

Room for a loan payment in Northwest Hills Planning Region

Here is the Northwest Hills Planning Region median household run through a simple DTI check. Your numbers will differ.

• $93,551 a year is $7,796 of gross monthly income
• Housing at the median rent of $1,193 uses 15%
• At 40%, room after rent is $1,925 a month

Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.

Who lives in Northwest Hills Planning Region, in numbers

Degree holders: 39% of adults over 25. About 4% go without health insurance.

Borrowing situations common in Northwest Hills Planning Region

A few patterns in the Northwest Hills Planning Region data, and the practical point behind each:

• Vehicle repairs. 18% of Northwest Hills Planning Region workers commute 45+ minutes, so a breakdown can cost a paycheck. Get two written estimates.
• Older households. A 47.1 median age means fixed-income borrowing is common; a fixed payment and short term limit risk.
• Consolidation math. With 47% at six figures, card consolidation is common; it pays only if total cost falls (guide).

Four steps for Northwest Hills Planning Region borrowers

A short checklist for Northwest Hills Planning Region borrowers:

• Write down what the expense costs; a smaller loan costs less.
• Collect three written offers and compare APR and total repaid.
• Verify the Connecticut license before giving out your Social Security number.
• Confirm the first due date before setting up autopay.

Who licenses lenders for Northwest Hills Planning Region residents

Northwest Hills Planning Region borrowers fall under statewide rules, enforced by the Connecticut Department of Banking. Federal complaints: consumerfinance.gov. See the Connecticut state guide for the statewide picture.

Nearby and statewide guides

For statewide rules and data, see the Connecticut guide.

• Connecticut state guide