06482, Sandy Hook, CT

The 6482 zip code of Sandy Hook, CT is located in the southwestern corner of the state and includes a large portion of Newtown, one of the most affluent towns in Connecticut. The median home value in this zip code was $467,500 as of September 2017, which is significantly higher than the statewide median home value of $217,500. In addition, Sandy Hook has a much higher percentage of homes with equity (measured as the difference between the market value and mortgage balance) than any other zip code in Connecticut. This indicates that many homeowners in this area are able to use their home equity to finance other investments or pay down debt.

Despite these high levels of home equity and home prices, there are still a significant number of homeowners who are struggling to make their payments on their mortgages. According to data from Zillow, approximately 22% of households in Sandy Hook are currently underwater on their mortgages (meaning they owe more on their homes than their homes are worth). This is significantly higher than the statewide average rate of 14%. In addition, nearly one-third (32%)of all households in Sandy Hook have at least one credit card that is maxed out or in default. These high levels of debt and foreclosure risk may be contributing factors why housing prices have not increased more rapidly in this area over recent years.