Cos Cob Among Top 10 CT Communities to Own a Home

Out of 60 Connecticut communities ranked for homeownership by the consumer advocacy website NerdWallet, the Greenwich hamlets of Cos Cob and Riverside ranked sixth and 17th, respectively.

The site analyzed 60 Connecticut communities based on affordability (median selected monthly homeowner costs, median monthly household income and costs as percent of income) and population growth (homeownership rate and 2010-12 population growth), as well as median home values. The result is an overall score, ranging from 79 (Glastonbury Center) to 30.4 (Greenwich).

Cos Cob garnered a score of 73.8 — putting it in sixth place — and had the second highest monthly median household income in the state at $11,587. It also had the second highest median home value at $935,700, and the highest population growth between 2010 and 2012, at 7.82%

And it was Riverside, with a score of 67.8, that was number 1 in the top 20 ranked Connecticut towns for monthly median household income — $12,278. Riverside also had the number 1 median home value in the top 20 towns, at $1 million. At 4.94 %, Riverside had the third highest population growth rate for the same time period.

In their full report, NerdWallet has this to say of Cos Cob:

Incorporated as part of prestigious Greenwich, Cos Cob has worked hard to maintain its identity as a small, tight-knit community. Located along the water, Cos Cob is only a few miles from both the economically vibrant Stamford and from the border with New York State. Cos Cob is a great home for commuters to New York City: the Metro-North rail line has a station in Cos Cob and can get residents to Grand Central in an hour. On the weekends, locals can enjoy a break from the city by sailing out to Cos Cob Harbor to a choice of islands including Island Beach and Great Captain Island.

Read the report on NerdWallet.com.

Photo: Ourgreenwich.com