Norwalk, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Norwalk Neighborhoods Since 2000




Norwalk, IA 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

Norwalk Housing Market Information

With a population of 10,135, 3,597 total housing units (homes and apartments), and a median house value of $194,948, 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 70.58% of the city's housing units. Other types of housing that are prevalent in Norwalk include large apartment complexes or high rise apartments ( 13.73%), row houses and other attached homes ( 12.57%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.74%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norwalk. Owner-occupied housing accounts for 70.80% of Norwalk's homes, and 64.40% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norwalk 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 Norwalk built between 2000 and later ( 32.83%). A lesser amount of the housing stock also hails from between 1940-1969 ( 10.83%). There's also some housing in Norwalk built before 1939 ( 4.65%).

Norwalk Home Appreciation Rates

Appreciation rates for homes in Norwalk have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.93%, which ranks in the top 40% nationwide. This equates to an annual average Norwalk house appreciation rate of 0.77%.

NeighborhoodScout's data show that during the latest twelve months, Norwalk's appreciation rate, at 4.05%, has been at or slightly above the national average. In the latest quarter, Norwalk's appreciation rate has been 1.37%, which annualizes to a rate of 5.58%.

Relative to Iowa, our data show that Norwalk's latest annual appreciation rate is higher than 50% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$194,948

Norwalk, IA HOME PRICES

Value Range
> $1,112,000 0.0
$834,001 - $1,112,000 0.7
$556,001 - $834,000 1.5
$445,001 - $556,000 1.4
$334,001 - $445,000 9.5
$222,001 - $334,000 24.1
$111,001 - $222,000 53.4
$55,001 - $111,000 4.4
$0 - $55,000 4.9

Very High for IA
High for Nation

Value Relative to Nation Value Relative to State
33.5052150474628 11.8518518518519

Number Of Homes And Apartments:
3,597

Norwalk Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
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
33.87% 1.71% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$871 / per month

Homeownership Rate

Homeownership
Owners 70.80
Renters 29.20
Vacant 3.36

Housing Market Details

 

Age of Homes

AGE OF Norwalk HOMES
2000 or Newer 32.8
1970 - 1999 51.7
1940 - 1969 10.8
1939 or Older 4.6

Types of Homes

TYPE OF Norwalk HOMES
Single-Family 70.6
Townhomes 12.6
Small Apt. Buildings 2.7
Apt. Complexes 13.7
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Norwalk HOMES
No Bedroom 0.00
1 Bedroom 7.07
2 Bedrooms 22.30
3 Bedrooms 45.49
4 Bedrooms 18.91
5 or more bedrooms 6.23