Norwalk, CT—06853
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwalk, CT
As of Oct '25, the median home price in Norwalk, CT is $2,056,000, with a year-over-year change of 7.9%. This indicates that home prices in Norwalk, CT are increasing. According to Zillow, the 1-year price projection is 4.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $2,056,000 | 7.9% |
| Single Family | $2,032,000 | 8.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $1,312,000 | 5.8% |
3 Bed | $1,740,000 | 8.1% |
4 Bed | $2,259,000 | 8.3% |
| 5 Bed | $2,959,000 | 8.0% |
% of Housing Stock
Rental Trends — Norwalk, CT
As of July '25, Rentcast reports the average rent in Norwalk, CT is $7,150, with a year-over-year rent change of 34.1%. Per bedroom, the median rent as of July '25 in Norwalk, CT is 1-bedrooms: $4,900, 3-bedrooms: $6,800. The most common rental property sizes in Norwalk, CT are 1-bedroom and 3-bedroom, accounting for 49.6% and 17.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $6,800 | $7,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $4,900 | $4,900 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $6,800 | $6,800 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Norwalk, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwalk, CT is 40. This is a decrease of -40.0% from last year, suggesting that homes are sitting on the market shorter 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 | $2,820,000 | 55.0% |
Listing Count | 23 | -10.0% |
| Listings as % of Homes | 0.7% | -10.0% |
Days on Market | 40 | -40.0% |
Demographics — Norwalk, CT
As of the latest ACS Survey released in 2023, Norwalk, CT has a population of 3,230, which has decreased by -16.7% over the past 5 years. Norwalk, CT is a popular place for families, as children make up 25.2% of the population. The area has a highly educated workforce, with 87.8% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 32.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,230 | -16.7% |
% Under 18 | 25.2% | -6.3% |
% Seniors | 20.3% | 21.6% |
% WFH | 32.4% | 113.2% |
% w/ College Degree | 87.8% | 16.9% |
As of the latest ACS Survey released in 2023, Norwalk, CT is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Norwalk, CT is hispanic, making up 2.4% of the population. Foreign-born residents account for 6.5% of the population in Norwalk, CT, and this percentage has decreased by 50.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.8% | -2.8% |
% Black | 1.6% | 433.3% |
% Hispanic | 2.4% | -40.0% |
% Asian | 1.7% | 6.2% |
% Foreign Born | 6.5% | -50.0% |
Mortgage and Risk — Norwalk, CT
According to HUD data as of 2023, there were 79 mortgage originations in Norwalk, CT, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Norwalk, CT. Investor activity is low, as 0.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 79 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 0.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Norwalk, CT
Norwalk, CT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 28 |
Total Units Section 8 | 28 |
% Rentals under Section 8 | 11.7% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$2,130 | $4,900 | $2,770 |
| 2 Bedroom | N/A | N/A | $3,340 |
| 3 Bedroom | -$2,730 | $6,800 | $4,070 |
| 4 Bedroom | N/A | N/A | $4,450 |
Affordability — Norwalk, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.5 |
| Median Home Price | $2,056,000 |
| Median Household Income | $250,000 |