ZIP Code 06031 — Falls Village CDP, CT Demographics & Data

ZIP code 06031 covers Falls Village, CT in Litchfield County with a population of about 1,385.

At a glance, the area shows median age of 54.8 versus a U.S. median of about 38.9.

It sits in telephone area codes 860, 959; U.S. House district CT-5; the HARTFORD & NEW HAVEN media market.

Median household income in ZIP 06031 is about $99,219 — about 32% above the U.S. median ($75,149).

On socioeconomic markers, US5 shows a poverty rate of 13.8%; unemployment rate near 2.4%; 57.5% of adults with a bachelor’s degree or higher (about 23.8 points above the national share (33.7%)).

Labor and commute patterns include leading industry context around Professional services, Education, and Construction; about 25.2% of workers reporting work-from-home (about 10.0 points above the U.S. share (15.2%)); a mean commute of about 180.0 minutes (U.S. average near 26.8).

Median home value is about $465,100 — about 34% above the U.S. median home value ($348,079).

Housing tenure and rents show median gross rent around $1,387 (about 19% above the U.S. median rent ($1,163)), and owner-occupancy near 82.2% (about 16.8 points above the national owner-occupancy rate (65.4%)).

To comfortably buy a median-priced home in ZIP 06031 in Falls Village, CT, a household would need roughly $128,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,988. That is about 29% above the local median household income ($99,219), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Climate normals for Falls Village CDP, CT show little to no average snow and around 46.9 inches of annual precipitation.

IRS migration statistics show a net inflow of about 76 for ZIP 06031 (Falls Village CDP, CT) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.