06423, East Haddam, CT

East Haddam is a small town located in Connecticut, just north of the city of Hartford. According to the 2010 census, the population of East Haddam is 2,811. The zip code for East Haddam is 6423.

The median home value in East Haddam was $127,000 in 2016. This was up from $122,500 in 2015 and $116,700 in 2014. Over the past five years (2014-2016), the median home value has increased by 8%.

According to Zillow’s Home Value Index (HVI), which measures home values relative to income levels, East Haddam ranks as one of the most affordable places to live in Connecticut. In 2016, Zillow calculated that a family earning the median income would need to spend just over 31% of their income on housing costs – below both Connecticut’s statewide average (34%) and national average (35%). Meanwhile, a family earning the highest income bracket would need to spend over 50% of their income on housing costs!

This affordability is likely due to several factors: first and foremost, East Haddam has a low rate of homeownership – only 54% of households are owner-occupied as opposed to 68% nationwide. Secondarily, incomes are relatively low compared to other areas within Connecticut – meaning that there is less pressure on people’s budgets when it comes to housing costs. And finally, East Haddam has a relatively small population size – so there isn’t an overwhelming demand for homes that exceeds people’s budget constraints.

Despite these factors – and others like them across America – there are still some areas where prices continue to rise faster than incomes or inflation rates. In some cases this may be due to limited supply (e.g., coastal cities), while in other cases it may be due simplyto increased demand (e.g., major metropolitan areas). Regardless of why prices are rising faster than incomes or inflation rates in certain areas, it remains important for people who are looking to buy or sell a home in these marketsplaces to do their research carefully and consult with qualified professionals before making any decisions!