The story of this market
The typical home in ZIP 06254 sells for about $326,200, or $165 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 06254 — North Franklin
The housing market in 06254 is characterized by low inventory and steady demand, typical of a rural residential area. Prices have seen modest year-over-year growth, driven by limited supply rather than rapid development. The market remains stable with little volatility expected in the near term.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle who are comfortable with a car-dependent commute to nearby employment centers.
Median prices moved up 4.2% year over year.
Homes spend a median of 58 days on market with 4.5 months of supply — a balanced-paced 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 3.5% · poverty 9.0% — 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 3.7%/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 3.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 06254, New London County, CT
North Franklin maintains a low crime rate consistent with rural Connecticut, with property crime being the primary concern rather than violent crime.
Schools serving the area are generally rated as average to above-average, with students often attending regionalized district facilities.
The area is subject to standard New England weather risks, including winter storms and occasional flooding in low-lying areas near the Shetucket River.
Economic momentum is stable, driven by proximity to regional employment hubs in Norwich and New London, with limited new large-scale commercial 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 primarily rely on personal vehicles for commuting, with access to Route 32 and I-395 providing connections to Norwich and the broader southeastern Connecticut employment corridor.
The area features rural landscapes, access to the Shetucket River for fishing and boating, and proximity to local parks and trails in the surrounding towns.
The rental market is limited in depth, consisting mostly of single-family home rentals with low turnover and minimal short-term rental presence.
The local economy is anchored by small businesses, agriculture, and proximity to the healthcare and defense manufacturing sectors in the Norwich-New London area.
Transportation is dominated by private vehicle use; public transit options are extremely limited, requiring residents to commute to larger hubs for rail or bus access.
Development is largely restricted to low-density residential projects, with no major commercial or infrastructure expansions currently approved.
The town assessor manages property valuations, with revaluations occurring periodically to reflect market changes.
Parcels are subject to standard municipal property taxes and regional school district levies.
Property insurance premiums are moderate, reflecting the rural nature of the area and standard regional hazard profiles.
Data retrieved from US Census Bureau 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. Source: NCES EDGE public school locations 2023-24.
Provides opportunities for fishing, kayaking, and scenic views.
Local community space for outdoor recreation and gatherings.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.