Torrington, Connecticut Income Statistics
Torrington Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Torrington Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Torrington | Connecticut Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,019 | $97,098 | $80,455 |
| Median Personal Income | $55,926 | $75,632 | $60,758 |
| Average Yearly Income Growth | 2.6% | 3.7% | 4.8% |
| Six-Figure Earners | 9.8% | 18.8% | 13.9% |
| $200k+ Households | 7.7% | 19.5% | 13.2% |
The median household income in Torrington is about 26% lower than in Connecticut. Income has been growing slower in Torrington (2.6%/yr) than in Connecticut (3.7%/yr).
About 10% of adults in Torrington earn six figures ($100,000 or more) a year, lower than the Connecticut average of 19%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Torrington, Connecticut grew by 51.0% from 2009 to 2024, reaching $72,019 in 2024. That's an average of about 2.6% per year.
Torrington has been below the U.S. median household income in most years since 2009, but rose above it in 2014-2018 (as much as 7.6% higher). In 2024 its income was 10% lower.
Income Distribution in Torrington
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 5,084 households (33.0% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 21.3% of households in Torrington had an income under $35,000 and 14.6% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Torrington has a larger share of households earning $50,000 to $74,999 (19.4% vs 15.5%) and a smaller share earning $200,000 or more (7.7% vs 13.2%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 725 | 4.7% | 5.1% |
| $10,000 to $14,999 | 611 | 4.0% | 3.5% |
| $15,000 to $24,999 | 1,028 | 6.7% | 6.4% |
| $25,000 to $34,999 | 920 | 6.0% | 6.7% |
| $35,000 to $49,999 | 1,764 | 11.5% | 10.1% |
| $50,000 to $74,999 | 2,984 | 19.4% | 15.5% |
| $75,000 to $99,999 | 2,280 | 14.8% | 12.6% |
| $100,000 to $149,999 | 2,829 | 18.4% | 17.4% |
| $150,000 to $199,999 | 1,068 | 6.9% | 9.5% |
| $200,000 or more | 1,187 | 7.7% | 13.2% |
Shares are of all 15,396 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 2,970 residents (9.8% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 10.8% of residents who have any income.
In 2024, 9.1% of Torrington residents aged 15 and over reported no personal income, 30.7% had some income but less than $25,000, and 18.1% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Torrington has a larger share of residents earning $50,000 to $74,999 (17.0% vs 14.3%) and a smaller share earning $100,000 or more (9.8% vs 13.9%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 2,754 | 9.1% | 12.8% |
| $1 to $9,999 | 2,981 | 9.8% | 11.2% |
| $10,000 to $14,999 | 2,523 | 8.3% | 7.0% |
| $15,000 to $24,999 | 3,799 | 12.5% | 10.5% |
| $25,000 to $34,999 | 3,012 | 9.9% | 9.5% |
| $35,000 to $49,999 | 4,600 | 15.2% | 12.6% |
| $50,000 to $74,999 | 5,167 | 17.0% | 14.3% |
| $75,000 to $99,999 | 2,507 | 8.3% | 8.2% |
| $100,000 or more | 2,970 | 9.8% | 13.9% |
Shares are of the 30,313 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 9.1% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Torrington
| Metric | Torrington | Connecticut Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.508 | 0.536 | 0.552 |
| Male Median Income | $64,129 | $85,321 | $69,667 |
| Female Median Income | $54,378 | $70,012 | $56,850 |
| Gender Pay Gap | 15.2% | 17.9% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Torrington, it is 0.508, lower than Connecticut's 0.536, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 18% more than women's income in Torrington, Connecticut. Over a 35-year career, a 18% wage gap accumulates to roughly $341,285 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Torrington, Connecticut has narrowed from about 22% to 15% in 2024. Over that period the gap was widest at 23% in 2010, and was narrowest at 4% in 2022. In dollar terms, the gap has narrowed by $1,286 since 2009.
Employment
| Metric | Torrington | Connecticut Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.8% | 5.5% | 5.2% |
| Working from Home | 9.0% | 16.2% | 15.0% |
| Commute time (minutes) | 18 | 22 | 22 |
Approximately 1,341 people are unemployed in Torrington, Connecticut.
The average commute time in Torrington is 18 minutes, shorter than the 22 minutes in Connecticut.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Torrington, Connecticut has fallen from 9.2% to 6.8% in 2024. Over that period the rate peaked at 10.6% in 2013 and fell as low as 5.8% in 2022.
Torrington has stayed above the U.S. unemployment rate in every year from 2011 to 2024 and has never dropped below it. It came closest in 2014, at 0.3 points higher. The gap has widened from 0.6 points in 2011 to 1.6 points in 2024.
Conclusion
Considering all these factors, Torrington, Connecticut has an overall wealth index grade of B, making it about on par with Connecticut, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Torrington, Connecticut.
How Rich Is Torrington, Connecticut?
Torrington has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $72,019, about 26% lower than the Connecticut average of $97,098.
How has median household income changed in Torrington, Connecticut?
Between 2009 and 2024, the median household income in Torrington, Connecticut rose 51%, from $47,689 to $72,019. Over the same years, income here outpaced Connecticut as a whole: +51% against +41%.
What was the median household income in Torrington in 2023?
In 2023, the median household income in Torrington, Connecticut was $70,651, up 5% from $67,190 in 2022. The Connecticut median that year was $95,197.
What was the median household income in Torrington in 2020?
In 2020, the median household income in Torrington, Connecticut was $60,590. By 2024 it had risen 19% to $72,019.
What is the Gini coefficient in Torrington, Connecticut?
The Gini coefficient in Torrington is 0.508. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Torrington, Connecticut?
Since 2009, the income gap between men and women in Torrington, Connecticut has narrowed from about 22% to 15% in 2024. Over that period the gap was widest at 23% in 2010, and was narrowest at 4% in 2022. In dollar terms, the gap has narrowed by $1,286 since 2009.
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