Norco, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Norco Neighborhoods Since 2000




Norco, CA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Norco Housing Market Information

With 26,289 people, 7,002 houses or apartments, and a median cost of homes of $539,029, 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 95.29% of the city's housing units. Other types of housing that are prevalent in Norco include large apartment complexes or high rise apartments ( 2.62%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norco. Owner-occupied housing accounts for 70.92% of Norco's homes, and 70.10% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norco built from 1970 to 1999 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 between 1940-1969 ( 34.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.94%). There's also some housing in Norco built before 1939 ( 3.02%).

Norco Home Appreciation Rates

Norco's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Norco during the period has been just -1.88%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Norco's appreciation rate, at 5.51%, has been at or slightly above the national average. In the latest quarter, Norco's appreciation rate has been 2.02%, which annualizes to a rate of 8.32%.

Importantly, this makes Norco one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to California, our data show that Norco's latest annual appreciation rate is lower than 80% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Norco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norco - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Norco real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$539,029

Norco, CA HOME PRICES

Value Range
> $1,304,000 0.1
$978,001 - $1,304,000 5.2
$652,001 - $978,000 28.0
$522,001 - $652,000 22.3
$391,001 - $522,000 23.4
$261,001 - $391,000 13.4
$130,001 - $261,000 4.4
$65,001 - $130,000 0.1
$0 - $65,000 3.1

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
4.93378647603422 34.6560846560847

Number Of Homes And Apartments:
7,002

Norco Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
93.58% 3.90% 6 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,128 / per month

Homeownership Rate

Homeownership
Owners 70.92
Renters 29.08
Vacant 4.45

Housing Market Details

 

Age of Homes

AGE OF Norco HOMES
2000 or Newer 14.9
1970 - 1999 47.1
1940 - 1969 34.9
1939 or Older 3.0

Types of Homes

TYPE OF Norco HOMES
Single-Family 95.3
Townhomes 1.0
Small Apt. Buildings 0.9
Apt. Complexes 2.6
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Norco HOMES
No Bedroom 0.40
1 Bedroom 4.07
2 Bedrooms 10.10
3 Bedrooms 35.90
4 Bedrooms 34.20
5 or more bedrooms 15.34