ZIP Code · CT

ZIP 06704

Part of Waterbury, CT

Pop. 31,713·New Haven County·81st most expensive ZIP in Connecticut

Median rent (all units)

$1,498/mo

Year-over-Year

+1.2%

Month-over-Month

+0.5%

vs US Median

-$434

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 06704 · $1,498

More affordable than 73% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,210

1 BR

$1,400

2 BR

$1,730

3 BR

$2,140

4 BR+

$2,520

Research median

$1,730/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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Connecticut

Rent in ZIP 06704 changed +1.2% over the year to September 2026. Across the 64 Connecticut ZIP codes Zillow tracks, the typical change was +3.7%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($48,718) is $1,218 a month. That covers HUD's Fair Market Rent for up to a studio ($1,210); a 1-bedroom is $1,400.

Rank in Waterbury

2nd cheapest of 6 ZIP codes in Waterbury.

From Zillow's monthly rent index (ZORI) for ZIP 06704. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$17,976/yr

At $1,498/mo median

Location

CityWaterbury

StateCT

CountyNew Haven County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.2% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 06704 (Waterbury, CT) is roughly split between renters and owners, has a median income below the national average, 14.2% of residents hold a bachelor's degree or higher.

Population

31,713

Median income

$48,718

Median age

34.6

Renters

54.7%

Age distribution

24.1%

26.6%

23.2%

15.1%

Under 1824.1%

18–3426.6%

35–5423.2%

55–6410.9%

65+15.1%

Gender

47.8%

52.2%

Male47.8%

Female52.2%

Race & ethnicity

28.1%

31%

47%

White28.1%

Black31%

Hispanic47%

Asian1.8%

Education (25+)

22.3%

35.1%

28.4%

14.2%

No HS diploma22.3%

HS diploma35.1%

Some college28.4%

Bachelor's+14.2%

Housing tenure

45.3%

54.7%

Owner45.3%

Renter54.7%

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

2021 vs 2026

How ZIP 06704 in Waterbury, CT has changed in 5 years

Income

$45,126 → $48,718

up 8.0%

Population

28,226 → 31,713

up 12.4%

Renter share

55.5% → 54.7%

-0.8 pts

Bachelor's+

13.8% → 14.2%

+0.4 pts

Median age

35.1 → 34.6

-0.5 yrs

Census figures show median household income at $48,718 today, compared with $45,126 five years earlier. Headcount in the area went from 28,226 to 31,713 between 2021 and 2024, a 12.4% change.

Community

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Local insights

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About renting in ZIP 06704

Last updated: October 17, 2026

ZIP code 06704 covers Waterbury, CT. The median rent here is $1,498/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,730/mo.

At 37% of local median household income ($48,718/yr), ZIP 06704 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 06704?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (about $29/hour full-time) to afford the median rent of $1,498/mo in ZIP 06704. The local median household income is $48,718/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 06704?

Rent in ZIP 06704 has risen 1.2% over the past year.

How does ZIP 06704 compare to other ZIPs in Connecticut?

ZIP 06704 is one of the more affordable among Connecticut ZIP codes for rent, ranking #81 of 83 at $1,498/mo. Over the year to September 2026, rent in ZIP 06704 changed +1.2%, against a typical +3.7% across the 64 Connecticut ZIP codes Zillow tracks.