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Sarah Mitchell
Compass Real Estate · ZIP 06704
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06704 ZIP Code Housing Market
$320,000median sale price
What is the 06704 housing market like right now?
The median home sale price in ZIP code 06704 is $320,000, up 4.9% year-over-year. Homes sell in an average of 55 days with 49 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 06704 ZIP code a buyer's or seller's market?
ZIP code 06704 is currently a balanced market and homes selling in about 55 days. How we determine this →
What are the latest 06704 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $320,000 |
| Median list price | $319,900 |
| Year-over-year price change | +4.9% |
| Average days on market | 55 days |
| Active inventory | 49 listings |
| Sale-to-list price ratio | 101.9% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 06704 zip code, located in Waterbury, CT, is currently classified as a balanced market. The median sale price stands at $320,000, representing a +4.9% change year over year. Homes in this area spend an average of 55 days on the market before going under contract. There are currently 49 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 06704 sits in the Waterbury, CT area, roughly 2.1 miles from downtown Waterbury. Because home prices are set street by street, this ZIP can move differently from Waterbury's citywide averages. The figures below reflect 06704 specifically — drawn from Redfin transactions, U.S. Census data for its 31,713 residents, and Zillow value estimates.
Homes sold
53
Last 12 weeks
Days on market
55
Average pace
Active listings
49
Sale-to-list
101.9%
Above asking
What is driving the 06704 housing market?
The 06704 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 101.9% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 06704 have increased +4.9% compared to last year, suggesting continued demand and potential for further appreciation. 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 06704 stands at $270,738, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,521 per month. This gives a price-to-rent ratio of approximately 14.8, 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.
Who lives in 06704?
Population
31,713
Median income
$48,718/yr
Median age
34.6 years
Owner-occupied
45.3%
College grads
14.2%
Avg commute
29.66 min
What is it like living in 06704?
Zip code 06704 is home to approximately 31,713 residents. The median household income is $48,718 per year, which shapes the types of homes and amenities available in the area. With a median age of 34.6 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 45.3% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 14.2% 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 29.66 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 06704.
Which public schools serve ZIP 06704?
9 schools tracked · 4,833 students
The largest public schools serving ZIP code 06704 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Wilby High School
Grades 9-12 · 1,178 students
Waterbury Career Academy
Grades 9-12 · 755 students
North End Middle School
Grades 6-8 · 734 students
Reed School
Grades PK-8 · 469 students
Woodrow Wilson School
Grades PK-5 · 432 students
Sprague School
Grades PK-5 · 395 students
Walsh School
Grades PK-5 · 346 students
Bucks Hill School
Grades PK-5 · 277 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 06704
What is the median home price in 06704?
The current median sale price in 06704 is $320,000, based on recent Redfin transaction data. Prices have changed +4.9% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 06704 a buyer's or seller's market?
The 06704 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 of zip code 06704?
Zip code 06704 has a population of approximately 31,713 residents. The median household income is $48,718 per year. About 45.3% 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 06704?
Properties Incorporated provides comprehensive data for 06704 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 06704 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.
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