06416Portland, CT Housing Market
$325,000median sale price
The 06416 zip code, located in Portland, CT, is currently classified as a balanced market. The median sale price stands at $325,000. Homes in this area spend an average of 47 days on the market before going under contract. There are currently 21 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 06416 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
42
Last 12 weeks
Days on market
47
Average pace
Active listings
21
Sale-to-list
101.2%
Above asking
Market trends
Market analysis for 06416
The 06416 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 101.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 06416 have remained relatively stable compared to last year. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 06416 stands at $360,822, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,578 per month. This gives a price-to-rent ratio of approximately 11.7, which suggests that buying may be more cost-effective than renting in this area over the long term. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
14,250
Median income
$101,424/yr
Median age
43.2 years
Owner-occupied
76.8%
College grads
44.6%
Avg commute
25.3 min
Living in 06416
Zip code 06416 is home to approximately 14,250 residents. The median household income is $101,424 per year, which shapes the types of homes and amenities available in the area. With a median age of 43.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 76.8% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 44.6% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 25.3 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 06416.
Frequently asked questions about 06416
What is the median home price in 06416?
The current median sale price in 06416 is $325,000, based on recent Redfin transaction data. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 06416 a buyer's or seller's market?
The 06416 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 06416?
Zip code 06416 has a population of approximately 14,250 residents. The median household income is $101,424 per year. About 76.8% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 06416?
Properties Incorporated provides comprehensive data for 06416 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 06416 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually. Visit our data sources page to learn more about our data methodology and update schedules.
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