Norco appreciation rates and housing market information

Norco housing market information

With 23,797 people, 6,220 houses or apartments, and a median cost of homes of $410,382, real estate costs in Norco are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.

single-family detached homes are the single most common housing type in Norco, accounting for 94.04% of the city's housing units. Other types of housing that are prevalent in Norco include large apartment complexes or high rise apartments (2.19%), row houses and other attached homes (2.19%), and a few mobile homes or trailers (1.45%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Norco. Owner-occupied housing accounts for 80.19% of Norco's homes, and 72.44% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norco built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Norco built from 1940-1969 (44.66%). A lesser amount of the housing stock also hails from 1995 and later (5.43%), and some were built from 1939 and earlier (5.43%).

Norco home appreciation rates

Appreciation rates for homes in Norco have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 79.87%, which ranks in the top 40% nationwide. This equates to an annual average Norco house appreciation rate of 7.98%.

Over the last year, Norco appreciation rates have trailed the rest of the nation. In the last twelve months, Norco's appreciation rate has been -28.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Norco were at 0.92%, which equates to an annual appreciation rate of 3.68%.

Relative to California, our data show that Norco's latest annual appreciation rate is higher than 9% of the other cities and towns in California.