10 Most Expensive ZIP Codes in Connecticut

The most expensive ZIP codes in the country are in California and New York, according to the most recent America’s Most Expensive ZIP Codes rankings from  Forbes, the business magazine, and housing market data provider Altos Research. To find the priciest enclaves, Altos analyzed listing prices for single-family homes and condos in 29,500 ZIP codes across the United States (covering 95% of the population) to calculate a median, rolling average for a 90-day period that ended Oct. 9, 2015. The 500 most expensive ZIP codes made the list.

Not surprisingly, three New York City ZIP codes – 11962, 10012 and 10013 – were among the top five most expensive. Just across the Long Island Sound, Connecticut had its share of pricey ZIPs, but only one made the top 50 on the list: Greenwich, ZIP code 06831 (two other Greenwich ZIP codes weren’t far behind). Like nearby NYC – which is just 35 miles away – Greenwich is home to many hedge funds and other financial service companies.

What $3 Million Buys You in Greenwich

The median home price in Greenwich is nearly $3 million, which is a relative bargain for the area. At that price, buyers can expect homes of about 4,000 to 5,000 square feet, with four or five bedrooms/baths, fireplaces, gourmet kitchens, pools and plenty of outdoor space – many homes in this price range sit on two or more acres. The most expensive home on the market today is an 80-acre farm estate, priced at $65 million, complete with seven bedrooms (including two master suites, each with a fireplace, dressing room, marble bathroom and French doors), several guest houses, pool, tennis court and a 22-stall horse stable.

With a median home price around $3 million – and plenty of inventory in the $20 million-plus range – you’d expect to find some wealthy residents. Indeed, a number of people on the Forbes World’s Billionaires list call Greenwich home, including hedge fund managers Steve Cohen (net worth: $12.7 billion), Paul Tudor Jones II (net worth $4.7 billion) and Stephen Mandel Jr. (net worth $2.5 billion), along with Lucy Stitzer, chairwoman of Waycrosse and heiress to Cargill, Inc. (net worth: $1.76 billion) and William Berkley, chairman and CEO of insurance firm WR Berkley (net worth: $1.18 billion). 

Connecticut’s Priciest ZIP Codes

In addition to Greenwich, the state is well represented on the Forbes America’s Most Expensive ZIP Codes list for 2015. Here are Connecticut’s 10 most expensive ZIPs (from highest to lowest) along with the towns in which you will find them, the median home price and the average number of days on the market (according to the Forbes list). The median household income is from Esri (the Environmental Systems Research Institute), a company that provides maps, data and apps through geographic information systems.

 

1. 06831 – GREENWICH

Median Price: $2,954,454

Average Days on Market: 247

Median Household Income: $142K

 

2. 06870 – OLD GREENWICH

Median Price: $2,546,291

Average Days on Market: 193

Median Household Income: $194K

 

3. 06830 – GREENWICH

Median Price: $2,259,890

Average Days on Market: 188

Median Household Income: $107K

 

4. 06840 – NEW CANAAN

Median Price: $2,217,146

Average Days on Market: 163

Median Household Income: $166K

 

5. 06878 – RIVERSIDE

Median Price: $2,082,214

Average Days on Market: 126

Median Household Income: $162K

 

6. 06880 – WESTPORT

Median Price: $1,861,214

Average Days on Market: 169

Median Household Income: $161K 

 

7. 06820 – DARIEN

Median Price: $1,662,689

Average Days on Market: 162

Median Household Income: $192K

 

8. 06853 – NORWALK

Median Price: $1,547,064

Average Days on Market: 200

Median Household Income: $196K

 

9. 06807 – COS COB

Median Price: $1,328,167

Average Days on Market: 123

Median Household Income: $158K

 

10. 06890 – SOUTHPORT

Median Price: $1,160,904

Average Days on Market: 177

Median Household Income: $156K

 

 

The Bottom Line

The bulk of Connecticut’s most expensive ZIP codes – such as Greenwich – are part of the New York City metropolitan area. Many people who work in NYC live in Connecticut, where they’ll get a lot more house for their money. For $3 million in Greenwich, Conn., you can get into a home that is 4,000-plus square feet with four or five bedrooms on two acres. At that price in Manhattan, you’ll probably be looking at a modest two-bedroom condo. And Connecticut offers plenty of green space to enjoy the outdoors and get away from the city.

Thinking of relocating across the country? You may want to check out The Most Expensive Neighborhoods in Los Angeles and The Most Expensive Neighborhoods in San Francisco.