Norco, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Norco, CA Real Estate Data


Norco Housing Market Information

With 26,289 people, 7,027 houses or apartments, and a median cost of homes of $569,289, 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 95.76% 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 67.87% of Norco's homes, and 68.37% 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 ( 33.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.79%). There's also some housing in Norco built before 1939 ( 3.56%).

Norco Home Appreciation Rates

Homes have actually lost value in Norco over the last then years, as home values have seen a decline of 19.40% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Norco home appreciation rates at 1.54%, which equates to an annual appreciation rate of 6.30%.

NeighborhoodScout's data show that during the latest twelve months, Norco's appreciation rate, at 5.63%, has been at or slightly above the national average. In the latest quarter, Norco's appreciation rate has been 1.54%, which annualizes to a rate of 6.30%.

Relative to California, our data show that Norco's latest annual appreciation rate is lower than 70% 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:
$569,289

Norco, CA HOME PRICES

Value Range
> $1,386,000 0.4
$1,040,001 - $1,386,000 5.2
$693,001 - $1,040,000 22.7
$554,001 - $693,000 20.7
$416,001 - $554,000 27.0
$277,001 - $416,000 14.7
$138,001 - $277,000 5.6
$69,001 - $138,000 0.4
$0 - $69,000 3.4

High for CA
Very High for Nation

Value Relative to Nation Value Relative to State
4.63781694677051 33.0250990752972

Number Of Homes And Apartments:
7,027

Rent & Ownership

 

Average Market Rent:
$1,809 / per month

Homeownership Rate

Homeownership
Owners 67.87
Renters 32.13
Vacant 4.15

Housing Market Details

 

Age of Homes

AGE OF Norco HOMES
2000 or Newer 14.8
1970 - 1999 47.9
1940 - 1969 33.8
1939 or Older 3.6

Types of Homes

TYPE OF Norco HOMES
Single-Family 95.8
Townhomes 0.6
Small Apt. Buildings 0.5
Apt. Complexes 2.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Norco HOMES
No Bedroom 0.72
1 Bedroom 4.11
2 Bedrooms 10.19
3 Bedrooms 36.23
4 Bedrooms 32.14
5 or more bedrooms 16.61

Norco Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
90.75% 3.87% 7 10
* 10 is highest