One Of The Best Places For Retirees Is A Charming Connecticut Town Tucked Between Two State Parks
While it's true that you need to earn more in this state than any other to be in the top 1%, surprisingly, there are a few affordable options for retirement in Connecticut. One of the best places is Torrington, Connecticut, a small town with a lot of opportunities for an affordable retirement. According to World Atlas, the biggest opportunity here has to do with the cost of housing. Whether buying a home or spending your twilight years renting, Torrington offers value beyond what you would expect in Connecticut. The expenses attached to living there are also pretty manageable, and definitely worth a look if you're ready to escape city living but still want to have an active lifestyle. State parks, including the 460 acre Sunnybrook State Park provide ample motivation for outdoor exploration, with hiking, camping, or fishing in the 85 acre Burr Pond ensuring an active retirement even outside of city limits — just don't make this popular retirement purchase seniors tend to immediately regret.
There are plenty of retirement housing options to choose from too — the City of Torrington boasts at least eight — whether your needs are short or long term, or an assisted living facility. Charlotte Hungerford Hospital has an average five minute wait time for a doctor, and is perfectly situated in town. That said, the average cost of assisted living in Torrington, as per Caring.org, is one of the least affordable in the region at $5,495. So from all appearances, living independently is your most affordable option.
Here's how housing in Torrington compares with the rest of the U.S.
If you knew how long you could actually live on $250,000 going into retirement in Connecticut, it would shock you to know how Torrington stacks up, not just to the state, but the country as a whole. As per the Federal Reserve Bank of St. Louis, the median sales price of a home in the U.S. as of Apr 23, 2025, was $416,900. The average sales price of a home in the U.S. for the first quarter of 2025 was $503,800. Meanwhile, the average value of a home in the state of Connecticut, as per Zillow, is $414,183, with a median sale price of $369,983. While not one of the worst or best states to retire, the state numbers for home ownership aren't what you could call cheap.
In Torrington however, Zillow places the average home value closer to $274,819, representing an increase of 6.7% over the year. Realtor.com places the average sold home price in Torrington at $287,500, making home ownership in Torrington anywhere from $100,000 to over $200,000 more affordable than the national average. It also happens to be more affordable than the state averages, too.
This is why renting is a good retirement option in Torrington
Aside from buying a home, renting is also another reason to consider Torrington an affordable retirement destination. Looking at the Zillow estimate for the average rent in the U.S., you are looking at $1,850 per month. For the state, Connecticut's average rent is pretty close to the national average, at $1,800 per month. While that may not be an exciting proposition, it gets better when you compare the average rent in Torrington against both the state and national average.
As of May 3, 2025, the average rent in Torrington is sitting at a comfortable $1,500 per month. That's a difference of just over $300 when compared to the national average, and around $300 from the state perspective. That's a $3,600 to $4,200 annual discount you can use for other things in retirement. Anyway you look at it,Torrington is as affordable to rent a place to live in retirement as to buy.
As per the U.S. Bureau of Labor Statistics (BLS) September 2024 release of Consumer Expenditures for 2023, the average annual expenditure for U.S. households was $77,280. That's $6,440 per month in average expenditures. The average cost of living in Torrington is $2,131 for a single person, including rent, utilities, food and transportation, making Torrington easier on your retirement savings.