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Falls Village CDP, CT

ZIP 06031 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 06031

Median Home Value
$465,100
Median Rent
$1,387
Affordability Snapshot
$128,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,988/mo PITI).

17%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.7x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

27.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 06031 in Falls Village CDP, 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.

Housing Tenure

Vacancy rate 26% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
82.2%+26% vs US avg
x
Vacancy Rate
25.8%+150% vs US avg
x
Broadband Access
91.4%+5% vs US avg
x
4+ Bedrooms
2.3%-85% vs US avg
x
Built Pre-1939
3.0%-76% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
14.3%-71% vs US avg
x
Mortgage-Free
39.2%+3% vs US avg
x
$465,100
Home Value
$1,387
Rent
1938
Year Built
2006
Moved In

Residents have lived here since ~2006 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached93.2%
  • 1-unit attached1.0%
  • 2-9 units5.3%
  • 10+ units0.0%
  • Mobile home & other0.5%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$465,100
Median rent$1,387
Owner-occupied82.2%
Vacant25.8%
Price-to-income4.7x
Est. income to buy$128,000