06870, Old Greenwich, CT

The 6870 zip code of Old Greenwich, CT is a well-off area with a median home value of $1,065,000. Home prices have increased steadily in the past few years and are now at their highest point since 2007. The average sale price for homes in this zip code has increased by over 20% since 2013.

There are several factors contributing to the high home values in this zip code. First, Old Greenwich is a affluent community with a high level of education and income levels. Second, there is strong demand for homes in this area due to its proximity to downtown Stamford and the surrounding areas of Greenwich and Darien. Finally, there is limited supply of homes available for purchase which has driven up prices even more.

Despite the high prices, many homeowners in the 6870 zip code are still able to afford their homes thanks to strong equity levels. Over 60% of households in this zip code have some form of home equity which gives them some degree of protection against market fluctuations. Additionally, many homeowners have been able to take advantage of low interest rates over the past few years which has helped increase their net worth even further.