Waterford, CT
Population 3,496 · Connecticut
About Waterford, CT
Waterford is a small town located in Connecticut with a population of 3,496 residents according to the latest US Census Bureau American Community Survey data. The median household income is $75,968 per year, which is 1% above the national median of $75,149. The median age of 45.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Waterford features a median home value of $245,600, which is 0% above the national median of $244,900. This positions Waterford in a moderately priced market relative to the rest of the country. Median monthly rent is $1,618, 39% above the national average of $1,163/month. Of the 1,671 total housing units, 69% are owner-occupied (1,105 units) and 31% are renter-occupied (505 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Waterford shows an unemployment rate of 7.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Waterford have an average one-way commute time of 30.1 minutes.
Education & Demographics
25.5% of Waterford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.9% White, 3.1% Hispanic or Latino, 3.8% Black or African American, and 2.5% Asian residents, with 4.2% of the population being foreign-born.
How Waterford Ranks in Connecticut
Cost of Living in Waterford, CT
Compared to national averages, Waterford has a median household income of $75,968 (1% above the national median of $75,149). Home values average $245,600, which is 0% above the national median. Monthly rent at $1,618 is 39% above the US average of $1,163. Within Connecticut, Waterford's income is 38% below the state average of $123,065, and home values are 52% below the state median of $516,920.
Why Live in Waterford, CT?
Waterford offers a strong local economy with a median household income of $75,968, well above the national average, and a low poverty rate of 6.7%, better than the national average.
Waterford has a population of 3,496 with a median age of 45.7 years. Compare Waterford with other cities to see how it stacks up, or explore all cities in Connecticut.
Similar Cities Near Waterford
Cities in Connecticut with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Stepney | 3,489 | $142,250 | $437,500 | Compare |
| Durham | 3,508 | $126,406 | $378,900 | Compare |
| Coleytown | 3,479 | $250,001 | $1,513,400 | Compare |
| Pemberwick | 3,455 | $134,375 | $892,600 | Compare |
| Clinton | 3,547 | $83,333 | $344,200 | Compare |
| Broad Brook | 3,550 | $96,484 | $328,300 | Compare |
| Tashua | 3,436 | $197,000 | $630,800 | Compare |
| Compo | 3,561 | $250,001 | $1,356,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Connecticut
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Waterford With Other Cities
Frequently Asked Questions about Waterford
What is the population of Waterford, CT?
The population of Waterford, CT is 3,496 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Connecticut.
What is the median household income in Waterford?
The median household income in Waterford, CT is $75,968 per year, which is 1% above the national median of $75,149.
What is the median home value in Waterford?
The median home value in Waterford, CT is $245,600, which is 0% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Waterford?
The median monthly rent in Waterford, CT is $1,618, which is 39% above the national average of $1,163/month.
What is the unemployment rate in Waterford?
The unemployment rate in Waterford, CT is 7.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Waterford, CT a good place to live?
Waterford offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 3,496 and a median age of 45.7, the city appeals to established professionals and retirees.
How educated is Waterford, CT?
25.5% of residents in Waterford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Waterford?
Key cost-of-living indicators for Waterford, CT: median home value is $245,600 (0% above national), median rent is $1,618/month, and median household income is $75,968. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Waterford?
The poverty rate in Waterford, CT is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Waterford, CT?
Waterford's population is 1.9% White, 3.1% Hispanic or Latino, 3.8% Black or African American, 2.5% Asian, and 8.0% two or more races. 4.2% of residents are foreign-born.