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ZIP Code · CT

ZIP 06340

Part of Groton, CT
Pop. 29,863·New London County·46th most expensive ZIP in Connecticut
Median rent (all units)
$2,138/mo
Year-over-Year
+7.7%
Month-over-Month
+3.4%
vs US Median
+$173
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 06340 · $2,138
More expensive than 67% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,370
1 BR
$1,590
2 BR
$1,980
3 BR
$2,550
4 BR+
$3,170
Research median
$1,980/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$25,656/yr
At $2,138/mo median
Location
CityGroton
StateCT
CountyNew London County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 7.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+7.7% YoY, +3.4% MoM), not inventory.
Demographics

Who lives here

ZIP 06340 (Groton, CT) is majority renter-occupied, skews toward younger working-age adults, 39.2% of residents hold a bachelor's degree or higher.

Population
29,863
Median income
$81,792
Median age
33.7
Renters
55.5%
Age distribution
18.7%
33.4%
19.4%
16.7%
Under 1818.7%
18–3433.4%
35–5419.4%
55–6411.8%
65+16.7%
Gender
53.8%
46.2%
Male53.8%
Female46.2%
Race & ethnicity
69.8%
14.2%
White69.8%
Black6.2%
Hispanic14.2%
Asian7.5%
Other2.4%
Education (25+)
26.7%
28.3%
39.2%
No HS diploma5.9%
HS diploma26.7%
Some college28.3%
Bachelor's+39.2%
Housing tenure
44.5%
55.5%
Owner44.5%
Renter55.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 06340 in Groton, CT has changed in 5 years

Income
$69,736 → $81,792
up 17.3%
Population
30,565 → 29,863
down 2.3%
Renter share
58.2% → 55.5%
-2.7 pts
Bachelor's+
33.2% → 39.2%
+6.0 pts
Median age
31.6 → 33.7
+2.1 yrs

On the earnings side, the typical household in ZIP 06340 in Groton, CT now reports about $81,792, up from $69,736 in 2021. Census counts show ZIP 06340 in Groton, CT losing about 702 residents over the five-year window, down 2.3% on net. The renter share has eased from 58.2% to 55.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 33.2% to 39.2% across the same window.

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Local insights

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About renting in ZIP 06340

Last updated: July 20, 2026

ZIP code 06340 covers Groton, CT. The median rent here is $2,138/mo as of July 2026. A 1-bedroom rents for a median of $1,590/mo. A 2-bedroom rents for a median of $1,980/mo.

At 31% of local median household income ($81,792/yr), ZIP 06340 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 06340?

As of July 20, 2026, the median monthly rent in ZIP 06340 (Groton, CT) is $2,138. This is based on aggregated data from public sources and community submissions.

How does ZIP 06340 rent compare to the US average?

ZIP 06340's median rent of $2,138/mo is $173 (9%) above the US national median of $1,965/mo.

How does ZIP 06340 compare to other ZIPs in Connecticut?

ZIP 06340 falls in the middle range for Connecticut, ranking #46 out of 85 ZIPs at $2,138/mo.

How much income do you need to rent in ZIP 06340?

To keep rent at or below 30% of gross income, you would need to earn at least $86,000/year (~$41/hour full-time) to afford the median rent of $2,138/mo in ZIP 06340. The local median household income is $81,792/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 06340?

Rent in ZIP 06340 has increased 7.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 06340 an affordable place to rent?

ZIP 06340 is considered moderate for renters. At $2,138/mo, rent takes approximately 31% of the local median household income ($81,792/yr). The standard benchmark is 30%. ZIP 06340 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 06340 residents rent vs. own?

According to Census data, approximately 55.5% of ZIP 06340 households are renters, while 44.5% are owner-occupied. With a majority renter population, ZIP 06340 has a strong rental market.

How does ZIP 06340 compare to the rest of Groton?

ZIP 06340 is more affordable than Groton overall. At $2,138/mo, it's $34 below the Groton citywide median of $2,172/mo.

When was rent data for ZIP 06340 last updated?

Rent data for ZIP 06340 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
31%
MODERATE

At $2,138/mo, rent takes ~31% of ZIP 06340's median household income ($81,792/yr). The standard benchmark is 30%.

ZIP 06340 31%Benchmark 30%
State income tax3–6.99%
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Schools nearby

Public schools near ZIP 06340 (Groton, CT)

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