Norwalk appreciation rates and housing market information

Norwalk housing market information

With 6,971 people, 2,435 houses or apartments, and a median cost of homes of $166,300, Norwalk real estate is some of the most expensive in Iowa, although Norwalk home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Norwalk, accounting for 82.42% of the city's housing units. Other types of housing that are prevalent in Norwalk include large apartment complexes or high rise apartments (9.36%), duplexes, homes converted to apartments, or other small apartment buildings (4.23%), and a few row houses and other attached homes (3.98%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Norwalk. Owner-occupied housing accounts for 82.01% of Norwalk's homes, and 75.12% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norwalk 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 Norwalk built from 1940-1969 (22.01%). A lesser amount of the housing stock also hails from 1995 and later (8.46%), and some were built from 1939 and earlier (8.46%).

Norwalk home appreciation rates

Norwalk's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Norwalk during the period has been just 6.23%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Norwalk home appreciation rates, at 1.90%, have been at or slightly above the national average. In the latest quarter, Norwalk's appreciation rate has been -0.78%, which annualizes to a rate of -3.12%.

Relative to Iowa, our data show that Norwalk's latest annual appreciation rate is higher than 16% of the other cities and towns in Iowa.