The story of this market
The typical home in ZIP 06855 sells for about $1,050,000, or $455 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 $1,919 a month.
ZIP 06855 — Norwalk
The 06855 housing market remains competitive, characterized by low inventory and steady price appreciation. High demand for coastal properties and proximity to transit hubs continues to drive values upward despite broader economic headwinds.
This ZIP is ideal for affluent families and commuters who prioritize coastal living and transit access to major regional employment centers.
Median prices moved up 7.3% year over year.
Homes spend a median of 23 days on market with 4.2 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 7.9% · poverty 5.2% — 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 6.5%/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 4.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 06855, 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.
The area is served by Norwalk Public Schools, which generally maintains a diverse student body and varied performance metrics across its elementary and secondary institutions.
The ZIP code includes significant coastal water area, placing portions of the geography in flood-prone zones requiring specialized insurance coverage.
Economic momentum is driven by proximity to the Fairfield County corporate corridor and ongoing redevelopment projects in the Norwalk waterfront and downtown districts.
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 and I-95, providing direct transit and driving access to employment hubs in Stamford and New York City.
The area features extensive coastal access, including waterfront parks and marinas, alongside proximity to local shopping centers and dining districts in South Norwalk.
The rental market is characterized by high demand and low vacancy rates, driven by young professionals and commuters seeking proximity to transit hubs.
The local economy is anchored by healthcare, professional services, and retail, with significant employment spillover from the broader Fairfield County corporate sector.
The area is served by the Metro-North New Haven Line and major highway corridors including I-95 and the Merritt Parkway.
Ongoing development focuses on high-density residential projects near the South Norwalk transit hub and waterfront revitalization.
Parcels are subject to City of Norwalk municipal taxes and various utility district assessments for water and sewer services.
Property insurance premiums are influenced by coastal flood risk, requiring many homeowners to carry additional flood insurance policies.
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.
Large waterfront park offering recreational fields and harbor views.
Major regional shopping and dining destination located nearby.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.