Norwalk, California Housing Market Prices
Norwalk Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 38% above the California median$895,763
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Median rent 3% above the California median$2,090
Housing Market Overview
| Metric | Norwalk | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $895,763 | $650,794 | $248,835 |
| Price Trend (Annual %) | 14.0% | 8.9% | 7.5% |
| Median Gross Rent | $2,090 | $2,036 | $1,407 |
| Rent Trend (Annual %) | 5.3% | 5.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Norwalk is about 38% higher than in California. Rent is about 3% higher than the California average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Norwalk, up about 14.0% and 5.3% a year respectively. Home prices are changing faster.
Median rent in Norwalk rose about 54.5% between 2015 and 2024, from $1,353 to $2,090. Over the same span, rent in California rose about 62.2%.
Affordability
On average, housing unit costs 9.0 yearly household incomes in Norwalk.
Buying the median-priced home in Norwalk costs roughly 35.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Norwalk. The price-to-rent ratio in California is about 26.6.
| Metric | Norwalk | California Avg | US Average |
|---|---|---|---|
| Median Home Price | $895,763 | $650,794 | $248,835 |
| Median Household Income | $99,810 | $99,161 | $80,455 |
| Price-to-Income Ratio | 9.0 | 6.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Norwalk rose about 148.7%, while median household income rose about 55.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Norwalk | California Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.0% | 51.7% | 58.5% |
| Rental Rate | 31.3% | 40.8% | 31.2% |
| Vacancy Rate | 1.7% | 7.5% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Norwalk has a homeownership rate of 67.0%, higher than the California average of 51.7%. Its housing vacancy rate is 1.7%, compared with 7.5% in California.
Housing Stock
| Metric | Norwalk | California Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.60 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1961 | 1975 | 1978 |
| Median Number of Rooms | 5.0 | 5.0 | 5.5 |
The typical housing unit in Norwalk was built around 1961. On average, 3.6 people live in a home with about 5.0 rooms, staying for about 17.0 years on average.
Norwalk, CA Housing Compared With Nearby Cities
How Norwalk, CA compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Norwalk, CA | 98,812 | $895,763 #1/3 | $2,090 #1/3 | 68.1% #1/3 |
| Bellflower, CA | 76,778 | $498,156 | $1,830 | 39.3% |
| Downey, CA | 112,177 | $596,741 | $1,939 | 51.3% |
Frequently Asked Questions
Common questions about the housing market in Norwalk, California.
What is the median home price in Norwalk, California?
The median home price in Norwalk, California is $895,763, higher than the California average of $650,794.
What is the average home price in Norwalk, California?
The typical home price in Norwalk, California, reported as the median sale price, is $895,763. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Norwalk, California?
The median gross rent in Norwalk, California is $2,090 per month, higher than the California average of $2,036.
What was the median gross rent in Norwalk in 2020?
In 2020, the median gross rent in Norwalk, California was $1,676 per month.
What is the price-to-rent ratio in Norwalk, California?
The price-to-rent ratio in Norwalk, California is about 35.7, meaning it would take roughly 35.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Norwalk.
Are home prices or rent rising faster in Norwalk, California?
Both home prices and rent are rising in Norwalk, up about 14.0% and 5.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Norwalk, California?
67.0% of households in Norwalk, California own their home, higher than the California average of 51.7%.
What is the vacancy rate in Norwalk, California?
The housing vacancy rate in Norwalk, California is 1.7%, lower than the California average of 7.5%.
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