06385, Waterford, CT

Home Equity and Home Prices in the 6385 Zip Code of Waterford, CT

The home equity and home prices in the 6385 zip code of Waterford, CT are very high. The median home value in this zip code is $1,827,000. This is a far cry from the median home value of $154,200 that was reported for zip codes located in Connecticut as a whole. The high home values in this zip code may be due to its proximity to New York City and its large population of wealthy individuals. Additionally, the area has seen an influx of affluent families who are purchasing homes here because of the excellent schools that are available. In spite of these factors, there has been a recent trend towards lower home values in this zip code. This could be due to a number of factors including increased competition from other areas within Connecticut or even other parts of New York City or elsewhere in the country, stricter lending standards by banks, or simply slower economic growth overall. Regardless of the reason for the decrease in home values over time, it is clear that they remain very high relative to most other areas within Connecticut.