Rental numbers for ZIP 06024 (Canaan, CT)
Not enough data to estimate cash flow here.
- Gross yield
- 6.0%
- rent x 12 / price
- Est. cap rate
- n/a
- NOI / price
- Cash flow
- n/a/mo
- at 7.78%, 25% down
- Typical price
- $361,000
- Zillow ZHVI, Aug 2026
- HUD Fair Market Rent
- $1,790/mo
- HUD Fair Market Rent, 2 bedroom, FY2026
Trends
Five years to August 2026
- Price, 12 months
- +5.6%
- Rent, 12 months
- n/a
- no Zillow rent series here
- Rent minus price growth
- n/a
- positive means yields are improving
Show the numbers
| Month | Typical value |
|---|---|
| Aug 2021 | $244,098 |
| Aug 2022 | $280,777 |
| Aug 2023 | $304,907 |
| Aug 2024 | $344,061 |
| Aug 2025 | $341,690 |
| Aug 2026 | $360,673 |
Rent references
Two sources, never blended
| Source | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| HUD Small Area FMR, FY2026 | $1,240 | $1,460 | $1,790 | $2,310 | $2,600 |
| Zillow observed rent, Aug 2026 | not published for this ZIP | ||||
HUD's Fair Market Rent is the 40th percentile gross rent (rent plus utilities) for a standard unit, and it is what Section 8 vouchers pay against. Zillow's index tracks asking rents on listed homes. The two measure different things, so they are shown side by side and never averaged. HUD area: Northwest Hills Planning Region, CT.
Property tax
- Effective rate
- n/a
- county, ACS
- At the typical price
- n/a
Median real estate taxes paid divided by median home value, Census ACS 2020 to 2024. Actual bills depend on the assessment, exemptions and any non-homestead rate.
Supply
The Building Permits Survey has no figure for this county.
Nearby ZIP codes
| ZIP | Distance | Typical price | Rent | Gross yield | Cash flow /mo |
|---|---|---|---|---|---|
| 06018Canaan | 2.4 mi | $353,000 | $1,650* | 5.6% | -$1,365 |
| 06031Canaan | 4.0 mi | $565,000 | $2,120* | 4.5% | -$2,494 |
| 01222Sheffield | 4.1 mi | $414,000 | $1,640* | 4.8% | -$1,777 |
| 01259Southfield | 5.1 mi | $615,000 | $1,710* | 3.3% | -$2,997 |
| 06058Norfolk | 6.0 mi | $524,000 | $1,510* | 3.5% | -$2,760 |
| 01257Sheffield | 6.8 mi | $520,000 | $1,630* | 3.8% | -$2,486 |
| 06068Salisbury | 7.1 mi | $937,000 | $1,780* | 2.3% | -$4,984 |
| 06039Salisbury | 8.8 mi | $976,000 | $4,250 | 5.2% | -$3,078 |
* HUD Fair Market Rent, 2 bedroom (no Zillow rent index for that ZIP).
Run the numbers on a real listing
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Open the calculator for 06024Questions
- Is 06024 good for rental property?
- On the typical home here, priced at $361,000 and renting for $1,790 a month (HUD Fair Market Rent, 2 bedroom, FY2026), the gross yield is 6.0% and the estimated cap rate is n/a. At a 7.78% investor rate with 25% down, estimated cash flow is n/a a month. The median gross yield across the 8,418 ZIP codes with full Zillow data is 5.6%. These are figures for a typical property, not a judgement on any particular one.
- What is the typical rent in 06024?
- Zillow does not publish a rent index for 06024. HUD's FY2026 Small Area Fair Market Rent for a 2-bedroom here is $1,790, the 40th percentile of gross rents and the basis for Section 8 payment standards.
- What is the property tax rate in 06024?
- The Census Bureau does not publish a usable tax figure for this area.
- What interest rate makes a rental in 06024 break even?
- With the default assumptions, no interest rate brings cash flow to zero: rent does not cover operating costs plus principal on a 30-year loan with 25% down.
- How fast are prices and rents changing in 06024?
- Over the 12 months to August 2026, the typical home value changed +5.6%.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
- NAIC Homeowners Insurance Report, data for 2023
National Association of Insurance Commissioners. Read: 2023.
Average HO-3 homeowners premium by state, multiplied by 1.2 as a landlord-policy assumption.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.