The story of this market
The typical home in ZIP 06854 sells for about $692,500, or $345 per square foot.
Prices are up +7.29% from a year ago, so sellers still have some momentum. Homes take about 23 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,049 a month.
ZIP 06854 — Norwalk
The 06854 housing market remains resilient with steady price appreciation and high demand for both rentals and for-sale properties. Low inventory levels continue to drive competition, keeping days on market low despite broader economic headwinds. The area's appeal as a transit-oriented suburb of New York City remains a primary driver of market activity.
This ZIP is ideal for commuters seeking rail access to NYC, families looking for coastal amenities, and professionals drawn to the vibrant SoNo dining and retail scene.
Median prices moved up 7.3% year over year.
Homes spend a median of 23 days on market with 3.2 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.4% · poverty 12.5% — 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 5.9%/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 06854, 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.
Crime rates in Norwalk are generally lower than the national average, with the city experiencing a stable trend in property and violent crime incidents compared to regional urban centers.
Public schools serving the 06854 area are part of the Norwalk Public Schools district, which maintains a diverse student body and offers a range of magnet and neighborhood school options.
The area faces moderate risk from coastal flooding and storm surges due to its proximity to the Long Island Sound, necessitating standard flood insurance coverage for many properties.
Norwalk serves as a major economic hub in Fairfield County with significant corporate presence in the healthcare, retail, and professional services sectors, supported by ongoing transit-oriented development.
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 the Metro-North Railroad's New Haven Line, providing direct rail access to Stamford and New York City, alongside easy access to I-95 and the Merritt Parkway.
The ZIP code features extensive waterfront access, including Calf Pasture Beach and various marinas, alongside local parks like Veterans Memorial Park and proximity to the SoNo shopping and dining district.
The rental market is highly competitive with low vacancy rates, driven by demand from young professionals and commuters; rents have seen consistent upward pressure over the past year.
The local economy is anchored by healthcare, retail, and professional services, with major employers including Norwalk Hospital and various corporate headquarters in the surrounding Fairfield County area.
The area is served by the Metro-North Railroad and is strategically located at the intersection of I-95 and US-7, facilitating regional connectivity.
Development is focused on high-density residential and mixed-use projects near the South Norwalk train station to support transit-oriented growth.
The City of Norwalk Assessor's office conducts periodic revaluations to ensure assessments reflect current market conditions.
Parcels are subject to municipal taxes and may fall within specific fire or water district jurisdictions depending on the exact location.
Property insurance premiums are influenced by coastal hazard exposure, with many properties requiring separate flood insurance policies.
Connecticut has seen a net positive inflow of residents from the New York City metropolitan area, particularly in Fairfield County.
Connecticut is a judicial foreclosure state, requiring court intervention for the foreclosure process, which typically extends the timeline for completion.
Sellers are required to provide a standard residential property condition disclosure report to buyers prior to the closing of a sale.
Data retrieved from Census Reporter and Data Commons for ZCTA 06854.
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.
Popular public beach with recreational facilities and waterfront views.
Major regional shopping and dining destination.
Anchor attraction featuring marine life exhibits and IMAX theater.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.