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 about Scout's Real Estate Data
With a population of 14,177, 5,045 total housing units (homes and apartments), and a median house value of $411,009, 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 73.07% of the city's housing units. Other types of housing that are prevalent in Norwalk include row houses and other attached homes ( 12.46%), large apartment complexes or high rise apartments ( 9.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.00%).
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 83.19% of Norwalk's homes, and 66.96% have either three or four bedrooms, which is average sized relative to America.
Norwalk homes and real estate are some of the newest in America. 48.77% of Norwalk's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Norwalk real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 34.76%), and between 1940-1969 ( 11.03%). There's also some housing in Norwalk built before 1939 ( 5.44%).
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 5.49%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Norwalk's appreciation rate, at 7.29%, has been at or slightly above the national average. In the latest quarter, Norwalk's appreciation rate has been 1.28%, which annualizes to a rate of 5.23%.
Relative to Iowa, our data show that Norwalk's latest annual appreciation rate is higher than 70% of the other cities and towns in Iowa.
$411,009
for Iowa
for nation
5,045
$1,302 / per month