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Area data

Falls village, CT — ZIP 06031

Population: 1,520 (Census ACS)

The median home value in ZIP 06031 (Falls village, CT) is $571,815 — up 1.9% over the past year. Homes sell for a median $550,000 after a median 644 days on market. 2 schools serve the area (NCES). Cost of living is 7.0% above the US average (BEA, metro/state-level).

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$571,815

Median home value

+1.9%

1-year change

644

Median days on market

Home values & appreciation

Median home value
$571,815
1-year appreciation
+1.9%
3-year appreciation
+15.4%
5-year appreciation
+41.9%
All-time peak (2026-07)
$571,815
House Price Index (state)
307.7 (+3.7% YoY)

Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)

Market activity

Median sale price
$550,000
Median price per sqft
$181
Median days on market
644 days
Homes sold (recent period)
1
For-sale inventory
8
Sale-to-list ratio
100.0%
1-year forecast
+3.0%

Source: recent area sales and market data (ZIP-level)

Rents

Studio fair-market rent
$1,207/mo
1BR fair-market rent
$1,508/mo
2BR fair-market rent
$1,877/mo
3BR fair-market rent
$2,441/mo
4BR fair-market rent
$2,816/mo

Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)

Affordability

Cost of living index (Above Average)
107.0 (100 = US avg)
Electricity rate (state-level)
29.4¢/kWh
Natural gas rate (state-level)
$16.80/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)

Schools

Total schools
2
Elementary schools
1
Middle schools
0
High schools
1
School districts serving the area
Canaan School District, Regional School District 01
Schools include
Lee H. Kellogg School, Housatonic Valley Regional High School

Source: NCES school directory, 2022-23 (school-address-based)

Natural hazards & flood risk

FEMA flood zone
AE
Flood risk level
High
Radon potential (county)
Moderate radon potential — EPA Zone 2 of 3
EPA Superfund (NPL) sites within 5 mi
None
Nearest Superfund site
Barkhamsted-New Hartford Landfill (14 mi)
EPA recommends radon testing for every home regardless of zone.

Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL

Climate (30-year normals)

Average annual temperature
52.0°F
Average high
60.0°F
Average low
43.0°F
Annual precipitation
60.1 in
Annual snowfall
44.3 in
USDA plant hardiness zone
6a (extreme annual low -10 to -5°F)

Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)

Air quality

Air quality rating
Good
Median AQI (annual)
38
Days with Good air quality
285
Days with Moderate air quality
72
Days with Unhealthy air quality
4
Highest AQI recorded (year)
183

Source: EPA air quality data (nearest monitoring station, annual)

Walkability & transit

Walkability index
7.2 / 20
Transit service frequency
-99,999
Jobs reachable by car (30 min)
3,050
Jobs reachable by transit (45 min)
4,025

Source: EPA Smart Location Database (metropolitan block groups)

Amenities

National parks within ~60 mi
9
Nearest national park
Eleanor Roosevelt National Historic Site (33 mi)
National parks include
Eleanor Roosevelt National Historic Site, Thomas Cole National Historic Site, Home Of Franklin D Roosevelt National Historic Site
Airports within 30 mi
31
Nearest airport
North Canaan Aviation Facilities Inc Airport (6 mi)
Nearest major airport
Bradley International Airport (BDL) (32 mi)
Hospitals nearby (~15 mi)
3
Hospitals include
SHARON HOSPITAL, CHARLOTTE HUNGERFORD HOSPITAL, FAIRVIEW HOSPITAL
Avg hospital rating (CMS)
3.7 / 5
Best hospital rating nearby (CMS)
5.0 / 5
EV charging stations (within 10 mi)
18
Solar radiation rating
Fair (3.8 kWh/m²/day)

Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)

Housing stock

Median year housing built
1,949
Housing built before 1970
71.2%
Housing built 2000 or later
8.2%
Median annual property tax
$6,219
Mean commute to work
16 min
Households with broadband internet
85.0%

Source: Census ACS 5-year estimates (ZIP-level)

How it compares

ZIP 06031State medianUS median
Median home value$571,815$447,200$289,727
Median sale price$550,000$450,000$325,000
Median days on market644 days39 days51 days
Median annual property tax$6,219$6,234$2,006

State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.

Area data compiled from public government, academic, and industry research feeds. Data sources →

Common questions

What is the median home value in ZIP 06031?
$571,815.
What is the median sale price in ZIP 06031?
$550,000.
How long do homes take to sell in ZIP 06031?
Median days on market: 644 days.
What is typical rent in ZIP 06031?
2-bedroom fair-market rent: $1,877/month (HUD FMR — a 40th-percentile regulatory reference, not market-observed).
Is ZIP 06031 in a flood zone?
High (FEMA NFIP). FEMA flood zone AE.
What is the radon potential in ZIP 06031?
Moderate radon potential — EPA Zone 2 of 3, county-level. EPA recommends testing every home regardless of zone.
Are there Superfund sites near ZIP 06031?
No current or proposed National Priorities List sites within 5 miles (EPA).
How many schools serve ZIP 06031?
2 schools (1 elementary, 1 high) (NCES, 2022-23).
Is ZIP 06031 walkable?
Walkability index: 7.2/20 (EPA Smart Location Database).
What is the air quality in ZIP 06031?
Good. Median AQI: 38. (EPA AQI).
What is the cost of living in ZIP 06031?
Regional Price Parity: 107.0 (100 = US average) (Above Average) (BEA RPP, metro/state-level).

Nearby ZIP codes

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents