Norwalk, OH—44857
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwalk, OH
As of Oct '25, the median home price in Norwalk, OH is $207,000, with a year-over-year change of 5.2%. This indicates that home prices in Norwalk, OH are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $207,000 | 5.2% |
| Single Family | $203,000 | 6.3% |
| Condos | $238,000 | 9.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $168,000 | 7.7% |
3 Bed | $214,000 | 7.5% |
4 Bed | $255,000 | 6.7% |
| 5 Bed | $270,000 | 5.5% |
% of Housing Stock
Rental Trends — Norwalk, OH
As of July '25, Rentcast reports the average rent in Norwalk, OH is $1,200, with a year-over-year rent change of 26.1%. Per bedroom, the median rent as of July '25 in Norwalk, OH is 1-bedrooms: $701, 2-bedrooms: $1,030, 3-bedrooms: $1,630. The most common rental property sizes in Norwalk, OH are 2-bedroom and 3-bedroom, accounting for 34.9% and 28.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,080 | $1,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $635 | $701 |
| 2 Bed Rent | $850 | $1,030 |
| 3 Bed Rent | $1,300 | $1,630 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Norwalk, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwalk, OH is 42. This is a increase of 15.0% 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 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $245,000 | 13.0% |
Listing Count | 51 | -1.0% |
| Listings as % of Homes | 0.2% | -1.0% |
Days on Market | 42 | 15.0% |
Demographics — Norwalk, OH
As of the latest ACS Survey released in 2023, Norwalk, OH has a population of 23,300, which has remained stable by -0.3% over the past 5 years. Norwalk, OH is a moderately popular place for families, as children make up 23.0% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,300 | -0.3% |
% Under 18 | 23.0% | -1.7% |
% Seniors | 18.6% | 2.2% |
% WFH | 6.7% | 219.0% |
% w/ College Degree | 20.9% | 32.3% |
As of the latest ACS Survey released in 2023, Norwalk, OH is a predominantly white area, with 87.4% of the population identifying as white. The white population has shrunk by 0.3% in the last 5 years. The second most common race or ethnicity in Norwalk, OH is hispanic, making up 6.9% of the population. Foreign-born residents account for 1.7% of the population in Norwalk, OH, and this percentage has decreased by 26.1% 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 | 87.4% | -0.3% |
% Black | 1.0% | -56.5% |
% Hispanic | 6.9% | -13.7% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 1.7% | -26.1% |
Mortgage and Risk — Norwalk, OH
According to HUD data as of 2023, there were 305 mortgage originations in Norwalk, OH, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Norwalk, OH. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 305 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Norwalk, OH
Norwalk, OH lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 484 |
Total Units Section 8 | 480 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 75.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $65 | $635 | $700 |
| 2 Bedroom | $40 | $850 | $890 |
| 3 Bedroom | -$170 | $1,300 | $1,130 |
| 4 Bedroom | N/A | N/A | $1,390 |
Affordability — Norwalk, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $207,000 |
| Median Household Income | $62,200 |