Wilton Stays 4th Richest in State Despite Decline

Even Wilton, one of the richest communities in Connecticut based on median family income, has been hit hard by the national economic downturn, according to a new state report.

While Wilton remained No. 4 in median family income in 2010 among Fairfield County towns, the amount of income dropped by $11,000 – one of the largest dips in the state.

With a median household income of just over $171,000 in 2010, Wilton had the third-largest drop of the 23 towns and cities in Fairfield County, down from nearly $182,000 in 2009, said Alissa DeJonge, director of research for the Connecticut Economic Resource Center Inc. in Rocky Hill.

Only Darien at $185,619; New Canaan at $180,434; and Weston at $180,321, topped Wilton’s $171,700 in median income.

And only Redding, where median income fell by $11,700, and Easton, where it fell by $11,400, had bigger declines than Wilton among Fairfield County towns, DeJonge said.

Although it ranks low in affluent Fairfield County, Norwalk's median income figure — $71,877 — is higher than the $65,686 median figure for the state, according to DeJonge.

The figures were compiled by the center’s annual DataFinder report.

“Every town in Fairfield County experienced a decline in median income except for Westport and Greenwich, which both increased by about $4,000,” said DeJonge. “But the Wilton dropoff is one of the biggest, along with Easton and Redding.”

DeJonge said reasons for the decline in towns such as Wilton include the national economic downturn, high unemployment throughout Connecticut and employees losing jobs then taking significant salary cuts at different companies.  

“Affluent places like Wilton also experienced a median income decline because companies have downsized and people have taken positions that pay less,” she said. “Executives who stayed with their companies did not receive the large bonuses they have in the past.”

Wilton Board of Finance Chairman Warren Serenbetz said he’s not shocked that median income is down.

“That [Wilton’s median-income] is definitely a big drop, but reflects what I’m hearing from people all the time,” Serenbetz said. “There’s a lot more economic stress here than we think. People complain that while taxes, food and gas have gone up, salaries are going down.”

How has the economic downturn impacted your family? Did you lose your job, or take a new one with a lower salary? Leave a comment below.

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