Hartford, CT Homes For Rent

Homes for Rent in Hartford, CT: What You Need to Know

Hartford, the capital of Connecticut, is also unofficially the Insurance Capital of the World. Its trailblazing role in the insurance industry dates back to the 18th century. 

Local Job Opportunities

The insurance industry contributes about $13.9 billion to the state’s gross state product annually. The biggest employers in Hartford include The Hartford, The Travelers Companies, and Aetna, all insurance companies. Other major employers are Alexion (a biopharmaceutical company), the University of Connecticut, and AQR Capital Management.

The Local History

Tribes belonging to the Algonquin confederation lived in the area long before the Dutch arrived in 1614. Thomas Hooker, a Puritan minister, fled England for Boston because of religious persecution. He and Samuel Stone, originally from Hertford, London, thought Boston was too crowded, so they started a settlement in Connecticut in 1635. They first called their new home Newtown, but changed it to Hartford, in honor of Stone’s birthplace. Hartford’s key role in the insurance industry dates back to 1794 when local merchant Jeremiah Wadsworth began offering fire insurance on an informal basis. In 1810, the state’s General Assembly awarded a charter to the state's first publicly owned insurance firm, The Hartford Fire Insurance Co.

The Cost of Living in Hartford

In the Northeast, even a small city like Hartford (population: 122,105) can be expensive. Its cost of living and housing costs are 25.4% and 15.6% higher than the national average, respectively. At least, food cost is 9.3% lower than the national average. The city’s median gross rent is $959 while the median rent for a two-bedroom apartment is $1,930. Connecticut levies an income tax rate that ranges from 3% to 6.99%. The top rate is slightly above the U.S. average. The state imposes a 6.35% sales tax. 

Know Your Neighborhoods

If you’re planning to rent, you’ll feel at home in downtown Hartford where the vast majority of residents are renters. Housing options include high-rise apartments, studios, lofts, and condos. The picturesque riverfront park will be right in your backyard. If you’re dreaming of the suburbs, West Hartford and Avon are a short drive to the city. West Hartford gets kudos for its highly walkable environment and great schools. Avon attracts retirees for its safety and young families for its top-notch public schools.

Getting Around in Hartford

While it’s best to own a car in Hartford, there are viable commuting options, including CTfastrak, a system of bus routes using a bus-only roadway for all or a portion of your trip; CTtransit Hartford, which operates over 30 local and 12 express bus routes; and CTRail, which operates three main lines and three branch lines. The dash Shuttle provides a free circulator bus downtown. Bradley International Airport (BDL) is the closest airport to Hartford.