ZIP Code · CT

ZIP 06840

Part of New Canaan, CT

Pop. 20,870·Fairfield County·3rd most expensive ZIP in Connecticut

Median rent (all units)

$6,410/mo

Year-over-Year

Stable

Month-over-Month

+2.3%

vs US Median

+$4,478

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 06840 · $6,410

More expensive than 100% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$2,410

1 BR

$2,930

2 BR

$3,500

3 BR

$4,230

4 BR+

$5,020

Research median

$3,500/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: September 25, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($250,001) is $6,250 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($5,020).

Cheaper nearby

ZIP 06850, 4 miles away, rents for 57% less ($2,767/mo), about $43,700 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 06840. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$76,920/yr

At $6,410/mo median

Location

CityNew Canaan

StateCT

CountyFairfield County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +2.3% MoM), not inventory.

Demographics

Who lives here

ZIP 06840 (New Canaan, CT) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 82.5% of residents hold a bachelor's degree or higher.

Population

20,870

Median income

$250,001

Median age

42.1

Renters

16.3%

Age distribution

26.6%

14.5%

27.3%

16.2%

15.5%

Under 1826.6%

18–3414.5%

35–5427.3%

55–6416.2%

65+15.5%

Gender

47%

53%

Male47%

Female53%

Race & ethnicity

81.8%

White81.8%

Black1.7%

Hispanic6.3%

Asian5.4%

Other4.8%

Education (25+)

82.5%

No HS diploma2%

HS diploma5.4%

Some college10%

Bachelor's+82.5%

Housing tenure

83.7%

16.3%

Owner83.7%

Renter16.3%

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

2021 vs 2026

How ZIP 06840 in New Canaan, CT has changed in 5 years

Income

$215,297 → $250,001

up 16.1%

Population

20,672 → 20,870

up 1.0%

Renter share

18.7% → 16.3%

-2.4 pts

Bachelor's+

80.2% → 82.5%

+2.3 pts

On the earnings side, the typical household in ZIP 06840 in New Canaan, CT now reports about $250,001, up from $215,297 in 2021. Headcount in the area went from 20,672 to 20,870 between 2021 and 2024, a 1.0% change. About 16.3% of households rent today, against 18.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 80.2% to 82.5%.

Community

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Local insights

Tips for renters in ZIP 06840

About renting in ZIP 06840

Last updated: September 25, 2026

ZIP code 06840 covers New Canaan, CT. The median rent here is $6,410/mo as of September 2026. A 1-bedroom rents for a median of $2,930/mo. A 2-bedroom rents for a median of $3,500/mo.

At 31% of local median household income ($250,001/yr), ZIP 06840 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 06840?

To keep rent at or below 30% of gross income, you would need to earn at least $256,000/year (about $123/hour full-time) to afford the median rent of $6,410/mo in ZIP 06840. The local median household income is $250,001/yr, so the typical household falls short of that bar.