06712, Prospect, CT

Prospect, CT is located in the 6712 zip code. According to the 2010 census, Prospect has a population of 8,924. The median household income in Prospect is $101,814. The median home value in Prospect is $269,900.

The average home equity and home prices in Prospect are above the national average. In 2010, the homeownership rate in Prospect was 69%. The average home equity and home prices in Prospect are significantly higher than the homeownership rate for zip codes within Connecticut (45%) and nationally (63%).

There are several factors that contribute to the high home equity and home prices in Prospect. First, there is a high concentration of affluent households in Prospect. Second, there is a strong demand for homes in Prospect due to its proximity to major cities such as New York City and Hartford. Third, there is limited supply of homes available for purchase within the 6712 zip code due to zoning restrictions imposed by local municipalities. Fourth, Proposition 13 – which limits property taxes – has had a positive impact on homeownership rates and home values in Connecticut since 1978. Fifth, recent economic growth has led to increased demand for housing throughout Connecticut and beyond. Sixth, low interest rates have contributed to increased values by making it more affordable for buyers to borrow money against their homes' equity."

Overall, despite some challenges posed by high housing costs and limited availability of properties within certain zip codes across the United States - particularly within coastal areas - prospects overall housing market appears healthy with relatively stable prices over time."