@Aaron, It means always. At home is sa bhaile or ar bhaile. You are probably thinking of 'tá mé i mo chónaí sa Fhrainc, tá siad ina gcónaí in Éirinn': i/they live in France/Ireland.
In that case, you are saying: I am residing/dwelling in France , etc.
By extention, i gcónaí is a state of affair that is perpetually dwelling in that state, resting/settling in that state: in other words, always...