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New Canaan CDP, CT

ZIP 06840 — Housing & Real Estate

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

Wealthy AreaLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 06840

Median Home Value
$1,534,100
Median Rent
$3,409
Affordability Snapshot
$422,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$9,855/mo PITI).

16%
Rent-to-Income Ratio

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

6.1x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

37.5 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 06840 in New Canaan CDP, CT, a household would need roughly $422,000 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 $9,855. That is about 69% above the local median household income ($250,001), 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

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
83.6%+28% vs US avg
x
Vacancy Rate
8.4%-18% vs US avg
x
Broadband Access
97.8%+12% vs US avg
x
4+ Bedrooms
29.0%+96% vs US avg
x
Built Pre-1939
4.5%-65% vs US avg
x
Built Post-2014
0.7%-90% vs US avg
x
Rent Burden >30%
21.2%-57% vs US avg
x
Mortgage-Free
32.1%-16% vs US avg
x
$1,534,100
Home Value
$3,409
Rent
1967
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached72.9%
  • 1-unit attached10.3%
  • 2-9 units10.2%
  • 10+ units6.7%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$1,534,100
Median rent$3,409
Owner-occupied83.6%
Vacant8.4%
Price-to-income6.1x
Est. income to buy$422,000