20 Trends To Better Grasp Groton
Thu, 07/23/2020 - 4:36pm Heraldgroton
After living in Groton for many years, it is sometimes easy to hold a mental image of the town that diverges widely from demographic reality. When we go to town meeting and to the polls to make decisions about our town’s future, we must have a clear picture of the town as it is today. The following facts taken from the recently-completed Groton Housing Production Plan help to give all residents a clear-eyed view of today’s town.
1. The total Groton population increased 84% from 1980-2018 with a projected additional increase of 20% by 2040 to 12,773. The median age increased 48% from 30.6 years in 1980 to 45.2 years in 2018.
2. The number of young adults aged 25-34 years decreased 35% from 1990 to 2018.
3. From 1990 to 2018, the number of residents over 65 years old increased 247%.
4. The number of children under five years old decreased 27% from 1990-2018.
5. School enrollment in the district decreased 26% since the year 2000.
6. Approximately 1,000 people or 9% of the population of Groton are estimated to have a disability.
7. Groton has 518 veterans out of the civilian population of 8,615 persons older than 18.
8. 66.2% of Groton residents have earned a bachelor’s degree or higher.
9. The Groton median household income is $126,883. Its median family income, for a family of four, is $150,991, whereas the HUD median family income, also for a family of 4, for this region is $108,000.
10. A family of four at 80% of median family income making $86,400 would only be able to afford a $259,200 home which does not exist in Groton.
11. Groton has 4,048 households, of which 1,053 or 26% are collecting income from Social Security and 146 or 3.6% are collecting income from Supplemental Security for disability.
12. Of the 4,048 households, 156 are collecting food stamps/SNAP benefits.
13. Of the 4,048 households, 1,561 or 39%, earn less than $100,000 per year.
14. 931 householders over 65 years old have a median income of $69,395.
15. Of the 4,048 households, 744 have one or more persons with a disability in the household.
16. 19.6% of households are a person living alone, with 8.9% of those being over 65 years old.
17. 87% of housing units are owner-occupied and 13% are renter occupied.
18. Residents are considered cost burdened when they pay more than 30% of their gross monthly income on housing costs. Currently, the cost burdened designation describes: 19% of homeowners without mortgage, 30% of homeowners with a mortgage, and 39% of renters.
19. According to Realtor.com, as of April 2020, the median listing price of a home in Groton was $549,900 and the median sales price was $520,000.
20. Since 2000, home values have increased 140% and property tax bills have increased 122%.
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