The story of this market
The typical home in ZIP 06480 sells for about $369,000, or $226 per square foot.
Prices are down 8.9% from a year ago, which gives buyers more room to negotiate. Homes take about 52 days to sell. HUD's fair market rent for a two-bedroom is $1,129 a month.
ZIP 06480 — Portland
The 06480 housing market is currently experiencing a cooling phase, with median sale prices declining by 8.9% year-over-year. While the market remains competitive, the combination of price drops and limited inventory suggests a cautious outlook for buyers and sellers alike. Several metrics, including specific rental and tax data, were not determinable at the ZIP level.
This ZIP code is well-suited for families and professionals seeking a suburban environment with access to regional employment centers and outdoor amenities.
Median prices moved down 8.9% year over year.
Homes spend a median of 52 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 100% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.3% · poverty 3.9% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 06480, Middlesex 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 Portland Public Schools, which generally maintain a stable reputation within the region.
The area is primarily residential with steady, modest population growth and limited large-scale industrial 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 typically commute to nearby employment hubs in the Hartford and Middletown areas via local highway corridors.
The area features access to the Connecticut River, local parks, and trails, providing significant outdoor recreational opportunities.
The local economy is supported by a mix of small businesses and proximity to the larger Hartford-Middletown regional labor market.
Data retrieved from US Census Bureau and Connecticut Demographics
Provides significant recreational access and scenic value to the town.
Key-figure check: median price diverges 20.7% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: confirmed genuine market swing — the flagged $369,000 was independently re-read and corroborated by 2 source(s); it stands as the new anchor baseline.