The story of this market
The typical home in ZIP 06385 sells for about $475,000, or $211 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 30 days to sell. HUD's fair market rent for a two-bedroom is $1,666 a month.
ZIP 06385 — Waterford
The housing market in 06385 shows resilience with steady demand and low inventory, keeping prices competitive. Recent sales data indicates a healthy sale-to-list ratio, suggesting that well-priced homes are moving quickly. The market is driven by local employment stability in the defense and healthcare sectors, which continues to attract buyers to the area.
This ZIP is well-suited for families and professionals working in the regional defense and healthcare sectors who value coastal living and suburban stability. It is less ideal for those seeking high-density urban transit or low-cost entry-level housing.
Median prices moved up 4.2% year over year.
Homes spend a median of 30 days on market with 3.2 months of supply — a fast-moving market.
13% of listings have cut prices · homes sell at 99% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.8% · poverty 5.0% — 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 4.2%/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 3.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 06385, 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.
Waterford generally experiences lower crime rates compared to the broader New London County average, with property crime being the primary concern. Local law enforcement maintains a consistent presence to manage public safety.
The area is served by the Waterford Public Schools district, which is generally regarded as providing a stable and quality educational environment for local families.
The ZIP code includes coastal areas along the Long Island Sound, necessitating awareness of flood zones and hurricane-related wind risks. Property insurance premiums in this region reflect these coastal hazard exposures.
Economic momentum is driven by proximity to major regional employers in the defense and healthcare sectors, including Electric Boat and regional medical centers. Infrastructure development remains focused on maintaining coastal access and supporting local commercial corridors.
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 commute via I-95 and I-395, providing direct access to major employment hubs in New London and Groton. Public transit options are limited, making personal vehicle ownership the standard for regional travel.
The area features significant coastal access, including Waterford Beach Park and Harkness Memorial State Park, offering extensive trails and waterfront recreation. Shopping and dining are concentrated along the Boston Post Road corridor.
The rental market is characterized by steady demand and low vacancy rates, driven by the area's proximity to major regional employers. Short-term rental activity is present but regulated by local municipal ordinances.
The economy is anchored by the defense industry, specifically Electric Boat, and the healthcare sector, which provide stable employment for the region. The mix includes retail, tourism, and professional services supporting the New London-Norwich metro area.
The area is served by I-95 and I-395, which are the primary arteries for regional commuting. Public transportation is limited to local bus services, with no major rail transit hubs located directly within the ZIP.
Development is focused on infill residential projects and the revitalization of existing commercial zones along the main highway corridors.
The New London County assessment regime relies on periodic revaluations conducted by the municipality to ensure property tax equity.
Parcels are subject to standard municipal and county tax levies; there are no specialized utility or hospital districts that impose additional property tax burdens.
Property insurance markets are stable but sensitive to coastal hazard risks, with premiums reflecting the proximity to the Long Island Sound.
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.
- Great Wolf Lodge | Mashantucket, CT3.813.2 mi
- Ocean Beach Park4.44 mi
- Supercharged Indoor Karting and Axe Throwing4.45.8 mi
- The Dinosaur Place4.46.7 mi
- Nature's Art Village4.56.6 mi
- Mohegan Sun4.510.2 mi
- Foxwoods Resort Casino4.313.1 mi
- Mohegan Sun Arena4.610.2 mi
- Water's Edge Resort & Spa4.215.5 mi
- Supercharged Indoor Karting and Axe Throwing4.45.8 mi
- Mystic Aquarium4.510.5 mi
- Rocky Neck State Park4.65.2 mi
- Harkness Memorial State Park4.84 mi
- Ocean Beach Park4.44 mi
- Supercharged Indoor Karting and Axe Throwing4.45.8 mi
- Mystic Seaport Museum4.69.9 mi
- Gillette Castle State Park4.715.1 mi
- Essex Steam Train & Riverboat4.713 mi
- B.F. Clyde's Cider Mill4.610.9 mi
- Mashantucket Pequot Museum & Research Center4.712.7 mi
- Rocky Neck State Park4.65.2 mi
- Harkness Memorial State Park4.84 mi
- Ocean Beach Park4.44 mi
- The Dinosaur Place4.46.7 mi
- Bluff Point State Park4.76.3 mi
- Mystic Downtown Marina4.79.4 mi
- Black Hall Marina4.79.3 mi
- Three Belles Marina4.72.1 mi
- Mystic River Marina4.59.4 mi
- Black Hall Outfitters4.917.4 mi
- Shennecossett Golf Course4.14.7 mi
- Fox Hopyard Golf Club4.411.6 mi
- Pequot Golf Club4.112.7 mi
- Great Brook Sports46.2 mi
- Great Neck Country Club4.62.3 mi
- Olde Mistick Village4.610.3 mi
- Burlington4.22.2 mi
- Nature's Art Village4.56.6 mi
- ShopRite of New London4.12.4 mi
- Marshalls4.32.2 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Public beach with coastal access and walking paths.
Historic estate with gardens and waterfront views.
Regional shopping destination serving the greater New London area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.