New Britain is a city founded in the 17th century that lies right at the heart of Connecticut, with its rich tradition of industry and innovation. Where would you be without the wire coat hanger that was invented here in 1869? Sporting innovation has also dribbled out of New Britain, quite literally, as dribbling as a basketball technique was advanced at the city's YMCA in 1895. Almost 50 years later the game of racquetball was developed there as well. New Britain has also been a pioneer of the arts. The New Britain Museum of American Art, established in 1903, was the first dedicated to celebrating the art of America in the country.
New Britain, CT is a great place for affordable rent-to-own homes! With the current housing shortage trend it can make it harder to become a homeowner, including in New Britain, CT. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
New Britain, CT is seeing rapid growth and New Britain, CT's' housing market remains optimal with an average home price that is -100% below the 2023 national average. New Britain, CT is part of Hartford county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Hartford is 1.74% which is above the national average, which is 0.99%.
Housing Statistics New Britain has a relatively high number of properties that are owner occupied (55%) while more than 1 in 10 homes are vacant, meaning that finding a rent to own home here is comparatively easy. The number of house sales in the city dropped 22.5% this year when compared to last year's numbers. The median and average sales prices in Q1 2013 of $100,400 and $107,000, respectively, have remained relatively steady, suggesting sellers are reluctant to drop prices.
Largest Employers and Industries The civil service is one of the city's largest employers - the state of Connecticut and the city of New Britain employ over 5,000 people between them. The healthcare industry is also important to the economy, with just under 5,000 people employed by The Hospital of Central Connecticut and the Hospital for Special Care, while the pharmaceutical company Moore Medical provides the city with several hundred additional jobs. One of the largest private employers is Stanley Black and Decker, which has its headquarters in the city and employs almost 800 people.
Transportation and Commutes The majority of New Britain residents get behind their steering wheel to get to work (79%), while 9% carpool. More than half of these journeys takes fewer than 20 minutes, which might have something to do with Connecticut Route 9, a road that conveniently links the city to nearby Hartford. Meanwhile a tiny 2.7% of the population use public transport, which is primarily operated by the New Britain and Bristol Division of Connecticut Transit.
Weather and Climate As New Britain is fairly close to the Atlantic you can expect some extreme seasonal weather, so make sure you've got a shovel to hand during the winter months, as the average annual snowfall for New Britain is a generous 43 inches. You can look forward to the average temperature in January and February regularly dipping below freezing, so make sure you have a winter coat you don't mind wearing everywhere. While temperatures flirt with the 100 degree mark during the warmer summer months, New Britain residents can usually enjoy more comfortable highs in the mid 70s.
Local Shopping New Britain's proximity to Hartford means that you don't have to travel far for retail temptation. Among the highlights in New Britain itself is Mitch's Place on Main St, which has become something of a local institution over the last two decades and offers keen shoppers a miscellany of products from furniture and clothing to toys and even food. If you're prepared to take your time browsing you can grab yourself a real bargain, so dress comfortably and prepare for the long haul.