The story of this market
The typical home in ZIP 06850 sells for about $850,000, or $435 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 38 days to sell. HUD's fair market rent for a two-bedroom is $2,170 a month.
ZIP 06850 — Norwalk
The housing market in 06850 remains resilient with steady price appreciation and low inventory levels. Demand is supported by strong local employment and the area's appeal to commuters, though high interest rates continue to temper transaction volume.
This ZIP is ideal for families and professionals seeking a balance between suburban living and urban accessibility. It attracts commuters who value proximity to transit hubs and buyers looking for established neighborhoods with strong community amenities.
Median prices moved up 4.2% year over year.
Homes spend a median of 38 days on market with 3.2 months of supply — a fast-moving market.
5% of listings have cut prices · homes sell at 99.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.0% · poverty 8.1% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 06850, Fairfield 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.
Norwalk generally experiences lower crime rates compared to other major urban centers in Connecticut, with property crime being the primary concern. Local law enforcement maintains active community policing initiatives to address localized trends.
Public schools in the area are part of the Norwalk Public Schools district, which offers a diverse range of academic programs and maintains a generally stable performance rating across its elementary and secondary institutions.
The area faces moderate risk from coastal storm surges and flooding, particularly in low-lying sections near the Long Island Sound. Property insurance premiums reflect these regional hazard exposures.
The area benefits from its proximity to major corporate headquarters in Fairfield County and ongoing transit-oriented development projects. Infrastructure investment remains focused on improving connectivity to the Metro-North rail corridor.
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 direct access to the Metro-North New Haven Line, providing efficient rail transit to Stamford and New York City. Major highway access via I-95 and the Merritt Parkway facilitates regional commuting.
The area features extensive access to coastal parks, marinas, and public beaches along the Long Island Sound. Residents also enjoy proximity to local golf courses, hiking trails in nearby nature preserves, and diverse shopping districts.
The rental market remains competitive with low vacancy rates driven by high demand from young professionals and commuters. Short-term rental activity is regulated by local zoning ordinances to preserve neighborhood character.
The local economy is anchored by healthcare, professional services, and retail sectors. Proximity to Stamford's financial district provides significant employment opportunities for residents.
The area is served by the Metro-North Railroad and extensive bus networks. Major arterial roads include I-95 and US-7, supporting heavy commuter traffic.
Ongoing redevelopment of older commercial sites into modern residential units is a primary focus of local planning boards.
Parcels are subject to municipal property taxes and standard utility district assessments for water and sewer services.
Property insurance markets are stable but sensitive to coastal flood risk, with premiums varying significantly based on elevation and flood zone designation.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Historic central park area serving as a community gathering space.
Major regional shopping and dining destination located nearby.
Public golf course and extensive walking trails.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.