Norfolk, CT—06058
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norfolk, CT
As of Oct '25, the median home price in Norfolk, CT is $477,000, with a year-over-year change of -0.2%. This indicates that home prices in Norfolk, CT are flat. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $477,000 | -0.2% |
| Single Family | $484,000 | -0.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $356,000 | -3.5% |
3 Bed | $417,000 | -0.2% |
4 Bed | $569,000 | 0.9% |
| 5 Bed | $1,059,000 | 1.6% |
% of Housing Stock
Rental Trends — Norfolk, CT
Norfolk, CT lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,950 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,500 | $2,500 |
| 3 Bed Rent | $3,400 | $3,400 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Norfolk, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Norfolk, CT is 116. This is a increase of 148.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $599,000 | 21.0% |
Listing Count | 12 | 28.0% |
| Listings as % of Homes | 0.5% | 28.0% |
Days on Market | 116 | 148.0% |
Demographics — Norfolk, CT
As of the latest ACS Survey released in 2023, Norfolk, CT has a population of 1,820, which has increased by 18.4% over the past 5 years. Norfolk, CT is a moderately popular place for families, as children make up 16.6% of the population. The area has a moderately educated workforce, with 44.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,820 | 18.4% |
% Under 18 | 16.6% | -6.2% |
% Seniors | 27.2% | -7.5% |
% WFH | 27.4% | 234.1% |
% w/ College Degree | 44.8% | 2.3% |
As of the latest ACS Survey released in 2023, Norfolk, CT is a predominantly white area, with 81.7% of the population identifying as white. The white population has shrunk by 13.0% in the last 5 years. The second most common race or ethnicity in Norfolk, CT is hispanic, making up 10.9% of the population. Foreign-born residents account for 5.3% of the population in Norfolk, CT, and this percentage has increased by 43.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.7% | -13.0% |
% Black | 0.9% | 200.0% |
% Hispanic | 10.9% | 395.5% |
% Asian | 1.2% | 300.0% |
% Foreign Born | 5.3% | 43.2% |
Mortgage and Risk — Norfolk, CT
According to HUD data as of 2023, there were 21 mortgage originations in Norfolk, CT, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Norfolk, CT. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 21 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Norfolk, CT
Norfolk, CT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 13 |
Total Units Section 8 | 13 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,130 |
| 2 Bedroom | -$1,100 | $2,500 | $1,400 |
| 3 Bedroom | -$1,650 | $3,400 | $1,750 |
| 4 Bedroom | N/A | N/A | $2,000 |
Affordability — Norfolk, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5 |
| Median Home Price | $477,000 |
| Median Household Income | $85,900 |