06477, Orange, CT

The 6477 zip code of Orange, CT has a median home value of $236,000. This is higher than the statewide median home value of $179,500 and the national median home value of $177,200. The average home size in this zip code is 2,898 square feet. In addition to having a higher median home value than other zip codes in Connecticut and across the United States, this area also has a high concentration of homes that are worth over $1 million.

One reason for the high concentration of homes that are worth over $1 million in this zip code is its proximity to New York City. Many wealthy individuals and families move to Orange County in order to be close to major metropolitan areas where they can find more jobs and opportunities. Additionally, many wealthy individuals or families who live in Orange County invest in real estate here because it is one of the most stable markets in the country. There have been few major fluctuations in home prices or interest rates over the past several years which makes it an attractive investment option for those who are looking for stability.

Despite being one of the most stable markets in America, there are still some risks associated with investing in real estate here. For example, if there is a sudden increase in interest rates or if there is a housing market crash, homeowners could experience significant losses on their investments. Additionally, although Orange County is generally considered to be a safe place to live and raise children, there have been instances where violent crime has increased significantly within certain neighborhoods within this county. Therefore, it is important for potential homeowners to do their research before making any decisions about purchasing or investing property here.