06855, Norwalk, CT

Norwalk, CT is located in the 6855 zip code. According to the 2010 census, Norwalk has a population of 97,812. The median household income was $86,924 and the median family income was $102,543. Home prices in Norwalk have increased significantly over the past few years. In March of 2016, home prices in Norwalk were at an all-time high of $269,000. In March of 2017, home prices had increased to an all-time high of $291,000. Currently home prices are at an all-time low of $259,000 and are projected to increase by 2% this year according to Zillow.

Home equity is important for many reasons. First and foremost it allows homeowners to maintain their homes and make repairs without having to sell or borrow money from outside sources. Secondly it can be used as a source of retirement savings or as a way to pay off debtors or other bills that may be owed on one's home. Finally it can be used as collateral for obtaining loans for other purposes such as purchasing a new car or investing in stocks or other securities.

According to Zillow's 2018 Home Value Index report (ZHVI), the average value of a single family home in Norwalk was $269k in March 2018 which is up from an average value of $236k recorded in March 2017 . This represents an annualized growth rate (AGR) of 2%. The ZHVI report also shows that while there has been significant price appreciation within Norwalk over the past two years there has been more modest growth within most neighboring zip codes with AGRs ranging from 1% - 3%. While there may be some variation among neighboring zip codes with respect to price appreciation rates there is no doubt that overall Norwalk has seen very strong market growth over this time period