The story of this market
The typical home in ZIP 06851 sells for about $718,000, or $412 per square foot.
Prices are up +15.8% from a year ago, so sellers still have some momentum. Homes take about 25 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $2,071 a month.
ZIP 06851 — Norwalk
The Norwalk housing market remains highly competitive with a 15.8% year-over-year increase in median sale prices, driven by low inventory and sustained demand. While the pace of sales has slowed slightly compared to the previous year, the market maintains strong fundamentals supported by its proximity to major employment hubs.
This ZIP is well-suited for family buyers seeking suburban space, commuters utilizing the I-95 corridor, and professionals working in the Fairfield County employment core.
Median prices moved up 15.8% year over year.
Homes spend a median of 25 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 4.7% · poverty 8.1% — 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 4.5%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 06851, 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 campuses.
The area faces standard coastal Connecticut risks, including potential for storm surge and wind damage, with insurance premiums reflecting regional hazard exposure.
Norwalk serves as a significant employment hub in Fairfield County with a mix of corporate headquarters, retail, and healthcare 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 Merritt Parkway and I-95, providing direct access to Stamford and New York City, with Metro-North rail service available at nearby stations.
The area features access to Cranbury Park, local golf courses, and proximity to the Long Island Sound waterfront, alongside extensive shopping and dining options in central Norwalk.
The rental market is highly active with a mix of luxury apartment complexes and single-family rentals, showing consistent demand and upward pressure on pricing.
The local economy is anchored by healthcare, professional services, and retail, with major employers including Norwalk Hospital and various corporate offices along the Route 7 corridor.
The area is served by major highway corridors including I-95 and the Merritt Parkway, with public transit provided by Norwalk Transit District and Metro-North Railroad.
Ongoing development focuses on mixed-use projects and residential densification near transit hubs to support population growth.
Parcels are subject to City of Norwalk municipal taxes and the Norwalk Public Schools district levy.
Property insurance markets are stable but sensitive to coastal storm risks, requiring standard homeowners coverage with potential flood insurance requirements in low-lying areas.
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 municipal park featuring trails and disc golf.
Private golf facility serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.