The story of this market
The typical home in ZIP 06238 sells for about $382,415, or $288 per square foot.
Prices are down 8.4% from a year ago, which gives buyers more room to negotiate. Homes take about 34 days to sell. HUD's fair market rent for a two-bedroom is $1,232 a month.
ZIP 06238 — Coventry
The 06238 housing market is currently experiencing a period of price correction, with a year-over-year decline of 8.4% in median sale prices. Despite this, the market remains relatively tight with low inventory and a healthy median household income, suggesting a stable long-term outlook for the area. Most data points are sourced from Redfin and the 2024 ACS estimates.
This ZIP is well-suited for families and professionals seeking a quiet, suburban-to-rural lifestyle with access to outdoor recreation and proximity to major regional employment hubs.
Median prices moved down 8.4% year over year.
Homes spend a median of 34 days on market with 2.1 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.0% · poverty 5.1% — a stable, low-distress profile.
Built from 217 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 06238, Tolland County, CT
The area is served by the Coventry Public Schools district, which generally maintains a stable reputation within the region.
The area is subject to standard New England climate risks, including winter storms and occasional flooding near water bodies like Coventry Lake.
Economic momentum is driven by proximity to the Hartford employment corridor and the University of Connecticut, with limited large-scale commercial development within the ZIP itself.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Connecticut) — Municipal Real Property Tax Assessment & Mill Rate Mechanics: Under C.G.S. § 12-62a, all taxable real property is assessed uniformly at a mandatory 70% assessment ratio of its fair market value (FMV). Real property tax is computed annually using the formula: Assessed Value = Fair Market Value × 0.
Residents primarily commute by car toward Hartford or the University of Connecticut in Storrs, with average commute times around 26.6 minutes.
The area features significant outdoor amenities, most notably Coventry Lake, which provides swimming, boating, and fishing, alongside various local parks and trails.
The rental market is characterized by low vacancy pressure and a mix of single-family home rentals and smaller multi-family units, with limited short-term rental saturation.
The local economy is largely residential, with residents commuting to major employers in the Hartford metro area and the University of Connecticut.
Transportation is heavily reliant on private vehicles, with access to major regional highways like I-84 and Route 44.
Development is primarily focused on low-density residential infill rather than large-scale commercial or mixed-use projects.
The town assessor manages property valuations, with revaluations occurring periodically to reflect market changes.
Parcels are subject to local municipal taxes and the Coventry Public Schools district levies.
Property insurance premiums are generally stable, though coverage for flood and wind damage is a consideration for properties near water bodies.
Data retrieved from US Census Bureau and SimpleMaps 2026 database.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
- Funcity Trampoline and Adventure Park4.219.1 mi
- Sonny's Place4.516.9 mi
- Dave & Buster's Manchester4.112.7 mi
- Spare Time Vernon4.510.4 mi
- Nomads Adventure Quest416 mi
- Pratt & Whitney Stadium at Rentschler Field4.416.1 mi
- Connecticut Convention Center4.518.6 mi
- PeoplesBank Arena4.319 mi
- The Bushnell Performing Arts Center4.719.3 mi
- The Meadows Music Theatre4.318.6 mi
- Cinemark Buckland Hills 18 XD and IMAX4.512.6 mi
- Mansfield Drive-in Theatre & Marketplace4.63.4 mi
- Dave & Buster's Manchester4.112.7 mi
- Spare Time Vernon4.510.4 mi
- Urban Air Trampoline and Adventure Park411.9 mi
- Connecticut Science Center4.618.7 mi
- Wadsworth Atheneum Museum of Art4.718.9 mi
- Dinosaur State Park4.519.9 mi
- Connecticut Trolley Museum4.418.4 mi
- Connecticut's Old State House4.618.8 mi
- Case Mountain4.79.4 mi
- Diana's Pool4.69.1 mi
- Valley Falls Park4.67.5 mi
- Charter Oak Park4.610.7 mi
- Gay City State Park4.57.8 mi
- Blackledge Country Club4.59.5 mi
- Windham Golf Course3.97 mi
- Skungamaug River Golf Club44.2 mi
- Minnechaug Golf Course4.211.5 mi
- Chanticlair Golf Course3.913 mi
- The Shoppes at Buckland Hills4.312.5 mi
- T.J. Maxx & HomeGoods4.410.6 mi
- Kohl's4.210.9 mi
- Big Y4.310.9 mi
- Big Y4.36.5 mi
- Bradley International Airport4.422.6 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A major local attraction for swimming, boating, and seasonal recreation.
A landmark historic site and museum located within the town.
A community park offering beach access and recreational facilities.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).