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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 89,005 people, 33,385 houses or apartments, and a median cost of homes of $436,533, Norwalk house prices are not only among the most expensive in Connecticut, Norwalk real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Norwalk, accounting for 47.51% of the city's housing units. Other types of housing that are prevalent in Norwalk include large apartment complexes or high rise apartments ( 26.80%), duplexes, homes converted to apartments or other small apartment buildings ( 19.86%), and a few row houses and other attached homes ( 5.21%).
People in Norwalk primarily live in small (one, two or no bedroom) single-family detached homes. Norwalk has a mixture of owner-occupied and renter-occupied housing.
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 41.80% of the city's housing hails from this era. Other housing ages represented in Norwalk include homes built between 1970-1999 ( 28.28%) and housing constructed before 1939 ( 20.99%). There's also some housing in Norwalk built between 2000 and later ( 8.93%).
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 0.13%, which is lower than 80% of US communities.
Over the last year, Norwalk appreciation rates have trailed the rest of the nation. In the last twelve months, Norwalk's appreciation rate has been 2.06%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Norwalk were at -0.24%, which equates to an annual appreciation rate of -0.96%.
Notably, Norwalk's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Connecticut, our data show that Norwalk's latest annual appreciation rate is higher than 70% of the other cities and towns in Connecticut.
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.
|$823,001 - $1,097,000||5.7|
|$549,001 - $823,000||19.1|
|$439,001 - $549,000||18.8|
|$329,001 - $439,000||25.7|
|$219,001 - $329,000||16.1|
|$110,001 - $219,000||8.0|
|$55,001 - $110,000||1.2|
|$0 - $55,000||1.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Norwalk HOMES|
|2000 or Newer||8.9|
|1970 - 1999||28.3|
|1940 - 1969||41.8|
|1939 or Older||21.0|
|TYPE OF Norwalk HOMES|
|Small Apt. Buildings||19.9|
|SIZE OF Norwalk HOMES|
|5 or more bedrooms||4.03|