The story of this market
The typical home in ZIP 06340 sells for about $421,000, or $306 per square foot.
Prices are up +15.04% from a year ago, so sellers still have some momentum. Homes take about 29 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,599 a month.
ZIP 06340 — Groton
The Groton housing market is currently experiencing high demand and low inventory, driving competitive bidding and price appreciation. The market is heavily influenced by the stable employment base provided by the defense sector, which continues to attract new residents to the area.
This ZIP is well-suited for military families, defense industry professionals, and those seeking a coastal lifestyle with convenient access to regional employment hubs in New London and Mystic.
Median prices moved up 15.0% year over year.
Homes spend a median of 29 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 102.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.5% · poverty 12.7% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 06340, New London County, CT
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area is served by Groton Public Schools, which generally maintain a moderate rating profile within the Southeastern Connecticut region.
The coastal geography of Groton presents inherent flood and storm-surge risks, necessitating careful review of FEMA flood maps and local insurance requirements.
The local economy is heavily anchored by the defense and maritime sectors, specifically Electric Boat and the U.S. Navy base, providing significant employment stability and infrastructure investment.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Connecticut) — Municipal Real Property Tax Assessment & Mill Rate Mechanics: Under C.G.S. § 12-62a, all taxable real property is assessed uniformly at a mandatory 70% assessment ratio of its fair market value (FMV). Real property tax is computed annually using the formula: Assessed Value = Fair Market Value × 0.
Residents benefit from proximity to major regional employers via I-95 and Route 1, with average commute times typically under 20 minutes.
The area features extensive coastal access, including Bluff Point State Park and various marinas, alongside shopping and dining districts centered in the Groton and Mystic areas.
The rental market is characterized by high demand and limited inventory, with median rents reflecting the area's appeal to military personnel and defense industry workers.
The economy is dominated by the defense industry, with General Dynamics Electric Boat serving as the primary employer, supported by the U.S. Naval Submarine Base New London.
The area is served by I-95 and local bus transit, with rail connectivity available via nearby New London stations.
Ongoing development is focused on residential and mixed-use projects supporting the workforce expansion at the local shipyards.
The Town of Groton Assessor's office manages property valuations, with revaluations occurring on a state-mandated cycle.
Parcels may be subject to specific fire district taxes and municipal utility assessments.
Property insurance premiums are influenced by coastal hazard exposure, with many properties requiring separate flood insurance policies.
Data sourced from U.S. Census Bureau and U.S. News Real Estate profiles.
- Great Wolf Lodge | Mashantucket, CT3.89.3 mi
- Ocean Beach Park4.44.5 mi
- Supercharged Indoor Karting and Axe Throwing4.410.4 mi
- The Dinosaur Place4.411.2 mi
- Nature's Art Village4.511.2 mi
- Mohegan Sun4.510.1 mi
- Foxwoods Resort Casino4.39.3 mi
- Mohegan Sun Arena4.610 mi
- Supercharged Indoor Karting and Axe Throwing4.410.4 mi
- Katharine Hepburn Cultural Arts Center4.818.2 mi
- Foxwoods Resort Casino4.39.3 mi
- Mystic Aquarium4.54.5 mi
- Great Wolf Lodge | Mashantucket, CT3.89.3 mi
- Rocky Neck State Park4.611 mi
- Harkness Memorial State Park4.85.3 mi
- Mystic Seaport Museum4.63.7 mi
- Essex Steam Train & Riverboat4.719.2 mi
- B.F. Clyde's Cider Mill4.65.3 mi
- Mashantucket Pequot Museum & Research Center4.78.8 mi
- Submarine Force Library & Museum4.83.7 mi
- Rocky Neck State Park4.611 mi
- Harkness Memorial State Park4.85.3 mi
- Ocean Beach Park4.44.5 mi
- The Dinosaur Place4.411.2 mi
- Bluff Point State Park4.71.1 mi
- Mystic Downtown Marina4.73.3 mi
- Black Hall Marina4.715 mi
- Three Belles Marina4.78.1 mi
- Mystic River Marina4.53.4 mi
- Safe Harbor Essex Island4.618.1 mi
- Foxwoods Resort Casino4.39.3 mi
- Lake of Isles4.610.1 mi
- Winnapaug Country Club4.112.5 mi
- Shennecossett Golf Course4.12.4 mi
- Pequot Golf Club4.16.7 mi
- Olde Mistick Village4.64.3 mi
- Tanger Outlets Foxwoods4.49.3 mi
- Burlington4.24.4 mi
- Nature's Art Village4.511.2 mi
- ShopRite of New London4.14.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A coastal reserve offering hiking, biking, and fishing opportunities.
Historic submarine museum and national landmark located in Groton.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.