ZIP Code 03462 Housing Market

📝 Local Market Notes

The housing market in ZIP code 03462 exhibits a volatile price trajectory over the past five years, reflecting broader national cycles. The Home Price Index (HPI) surged from 177.72 in 2020 to a peak of 280.76 in 2022, indicating a rapid appreciation period. However, the index subsequently corrected to 230.19 in 2023 before recovering to 254.59 in 2025. This pattern suggests a market that experienced significant overheating followed by a necessary adjustment, currently stabilizing at a level well above its 2020 baseline. The current HPI of 254.6 signifies that home values are more than double their 2000 levels, underscoring long-term capital growth despite recent fluctuations. In terms of market performance, ZIP 03462 demonstrates a slight divergence from regional trends. The ZIP’s year-over-year growth of +4.18% outpaces the state average of +3.11%, though the provided county data does not specify a distinct county YoY figure separate from the ZIP metric. This outperformance relative to the state suggests that local demand in this specific sub-market remains robust. Comparing the ZIP to nearby areas, such as ZIP 03467 with an HPI of 257.2 and a +5.40% YoY change, indicates that 03462 is part of a generally appreciating cluster within Cheshire County, though it lags slightly behind the highest-performing neighboring codes. The sub-market character of ZIP 03462 aligns with a mid-tier, owner-occupied residential area. The parent county’s median home value of $280,100 and a 72.7% owner-occupancy rate indicate a stable, established community rather than a luxury or high-rental district. With a median household income of $83,329, the area supports a demographic capable of sustaining mortgage obligations, although the current 7.40% mortgage rate remains a significant barrier for entry-level buyers. Prospective residents should note that while prices have stabilized after the 2022 peak, they remain elevated compared to pre-pandemic levels. The market is best suited for long-term owners seeking equity growth in a stable, non-speculative environment, rather than short-term investors looking for rapid turnover.

Based on FHFA House Price Index data.