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  4. /Norwalk, CT - 06853

Norwalk, CT—06853

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$2,331,000
13.2% YoY Growth
Household Income
$250,000
47.7% YoY Growth
Days on Market
19
21.0% Longer YoY
Home Price Forecast
4.4%
Median Rent
$6,800
34.1% YoY Growth
1-Bed Rent
$4,900
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
$6,800
36.0% YoY Growth

Other Zip Codes in Norwalk, CT

06854068550685006851
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Norwalk, CT

As of May '26, the median home price in Norwalk, CT is $2,331,000, with a year-over-year change of 13.2%. This indicates that home prices in Norwalk, CT are increasing. According to Zillow, the 1-year price projection is 4.4%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$2,331,00013.2%
Single Family $2,307,00014.2%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$1,492,00014.3%
    3 Bed
    		$1,982,00014.2%
    4 Bed
    		$2,581,00014.4%
    5 Bed $3,318,40114.3%
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    % of Housing Stock

    Studio
    2.6%
    1 Bedroom
    8.1%
    2 Bedrooms
    10.3%
    3 Bedrooms
    32.6%
    4 Bedrooms
    35.3%
    5+ Bedrooms
    11.1%

    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.

    TypeMedian RentAverage Rent
    Average Rent$6,800$7,150
    Studio Rent N/AN/A
    1 Bed Rent $4,900$4,900
    2 Bed Rent N/AN/A
    3 Bed Rent $6,800$6,800
    4 Bed Rent N/AN/A
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    % of Rental Stock

    Studio
    16.1%
    1 Bedroom
    49.6%
    2 Bedrooms
    5.7%
    3 Bedrooms
    17.0%
    4 Bedrooms
    11.7%

    Property Listings — Norwalk, CT

    As of May '26, Realtor.com reports that the median days on market for a home in Norwalk, CT is 19. This is a increase of 21.0% 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$2,900,00013.0%
    Listing Count
    		21-6.0%
    Listings as % of Homes0.7%-6.0%
    Days on Market
    		1921.0%
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    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.

    MetricLatest CensusYoY % 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%
    Loading chart...

    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$2,130$4,900$2,770
    2 BedroomN/AN/A$3,340
    3 Bedroom-$2,730$6,800$4,070
    4 BedroomN/AN/A$4,450

    Affordability — Norwalk, CT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.6
    Median Home Price$2,331,000
    Median Household Income$250,000

    Norwalk, CT — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Norwalk, CT

    06854

    Darien, CT

    06820

    Norwalk, CT

    06855

    Norwalk, CT

    06850

    Norwalk, CT

    06851

    Frequently Asked Questions