Norwalk, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Norwalk, CA Real Estate Data


Norwalk Housing Market Information

With a population of 107,140, 27,132 total housing units (homes and apartments), and a median house value of $427,273, real estate costs in Norwalk 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 Norwalk, accounting for 73.10% of the city's housing units. Other types of housing that are prevalent in Norwalk include large apartment complexes or high rise apartments ( 17.92%), row houses and other attached homes ( 4.38%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.96%).

The most prevalent building size and type in Norwalk are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 64.22% owning and 35.78% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Norwalk's housing was primarily built during this period, from the '40s through the '60s. A full 73.33% of the city's housing hails from this era. Other housing ages represented in Norwalk include homes built between 1970-1999 ( 21.26%) and housing constructed before 1939 ( 2.95%). There's also some housing in Norwalk built between 2000 and later ( 2.47%).

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 -1.55%, which is lower than 80% of US communities.

Appreciation rates are so strong in Norwalk that despite a nationwide downturn in the housing market, Norwalk real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norwalk appreciation rates continue to be some of the highest in America, at 6.00%, which is higher than appreciation rates in 74.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norwalk. Norwalk appreciation rates in the latest quarter were at 1.34%, which equates to an annual appreciation rate of 5.46%.

Relative to California, our data show that Norwalk's latest annual appreciation rate is lower than 60% 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 Norwalk differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norwalk - 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 Norwalk real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$427,273

Norwalk, CA HOME PRICES

Value Range
> $1,358,000 0.5
$1,018,001 - $1,358,000 0.3
$679,001 - $1,018,000 2.4
$543,001 - $679,000 10.7
$407,001 - $543,000 44.4
$271,001 - $407,000 32.4
$136,001 - $271,000 4.9
$68,001 - $136,000 1.0
$0 - $68,000 3.3

Average for CA
Very High for Nation

Value Relative to Nation Value Relative to State
8.47338525502137 48.6129458388375

Number Of Homes And Apartments:
27,132

Rent & Ownership

 

Average Market Rent:
$1,721 / per month

Homeownership Rate

Homeownership
Owners 64.22
Renters 35.78
Vacant 4.12

Housing Market Details

 

Age of Homes

AGE OF Norwalk HOMES
2000 or Newer 2.5
1970 - 1999 21.3
1940 - 1969 73.3
1939 or Older 2.9

Types of Homes

TYPE OF Norwalk HOMES
Single-Family 73.1
Townhomes 4.4
Small Apt. Buildings 3.0
Apt. Complexes 17.9
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Norwalk HOMES
No Bedroom 4.76
1 Bedroom 10.91
2 Bedrooms 25.35
3 Bedrooms 44.31
4 Bedrooms 12.78
5 or more bedrooms 1.90

Norwalk 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
127.38% 4.95% 10 10
* 10 is highest