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City Report · IA

Norwalk

Pop. 14,183·17th most expensive in Iowa·One of the most affordable rental markets in the US
Median rent (all units)
$1,237/mo
Year-over-Year
Stable
Month-over-Month
+4.0%
vs US Median
-$725
Rising (Monthly)
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Most AffordableMost Expensive
Norwalk · $1,237
More affordable than 91% of US cities · National median $1,962/mo
Affordability
14% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,237/mo, rent takes about 14% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$49,000/yr
Local median income
$102,722/yr
Based on the 30%-of-income rule using Norwalk's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$990
1 BR
$1,050
2 BR
$1,260
3 BR
$1,690
4 BR+
$1,700
Fair Market Rent (HUD)
$1,260/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,237 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$14,844/yr
At $1,237/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +4.0% MoM), not inventory.
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Demographics

Who lives here

Norwalk, IA is majority owner-occupied, has a large share of families with children, has a median income above the national average, 38.8% of residents hold a bachelor's degree or higher.

Population
14,183
Median income
$102,722
Median age
37.8
Renters
17.5%
Age distribution
26.6%
19.5%
27.3%
12.6%
14.1%
Under 1826.6%
18–3419.5%
35–5427.3%
55–6412.6%
65+14.1%
Gender
47.3%
52.7%
Male47.3%
Female52.7%
Race & ethnicity
94.4%
White94.4%
Hispanic3%
Asian1.2%
Other1.4%
Education (25+)
21.6%
37.3%
38.8%
No HS diploma2.2%
HS diploma21.6%
Some college37.3%
Bachelor's+38.8%
Housing tenure
82.5%
17.5%
Owner82.5%
Renter17.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Norwalk, IA has changed in 5 years

Income
$91,610 → $102,722
up 12.1%
Population
12,592 → 14,183
up 12.6%
Renter share
18.2% → 17.5%
-0.7 pts
Bachelor's+
40% → 38.8%
-1.2 pts
Median age
36 → 37.8
+1.8 yrs

Household income in the area moved from $91,610 to $102,722 across the same window, up 12.1% versus 2021. Census counts show Norwalk, IA adding about 1,591 residents over the five-year window, up 12.6% on net.

Community

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View Norwalk rent history (2015–2026) →
Salary vs rent

Can you afford rent in Norwalk on your salary?

At $1,237/mo, how Norwalk rent compares to typical pay (30% rule).

By apartment size

Norwalk rent by bedroom count

Median rent for each apartment size in Norwalk. Click any size for full breakdown.

Local insights

Tips for renters in Norwalk

About renting in Norwalk, IA

Last updated: August 17, 2026

The median rent in Norwalk is $1,237/mo as of August 2026. A studio apartment averages $990/mo while a 2-bedroom runs $1,260/mo. One-bedroom apartments average $1,050/mo and 3-bedroom units go for $1,690/mo.

At 14% of local median household income ($102,722/yr), Norwalk ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Norwalk an affordable city for renters?

Norwalk is considered very affordable for renters. At $1,237/mo, rent takes approximately 14% of the local median household income ($102,722/yr). The standard benchmark is 30%. Norwalk falls comfortably within that range.

How much income do you need to rent in Norwalk?

To keep rent at or below 30% of gross income, you would need to earn at least $49,000/year (~$24/hour full-time) to afford the median rent of $1,237/mo in Norwalk. The local median household income is $102,722/yr, meaning the typical Norwalk household meets that threshold.

Is rent going up or down in Norwalk?

Rent in Norwalk has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Norwalk rent compare to other cities in Iowa?

Norwalk is middle-of-the-pack for Iowa for rent, ranking #17 out of 33 tracked cities at $1,237/mo.

Which nearby cities are cheaper to rent in than Norwalk?

Several nearby cities have lower median rents than Norwalk ($1,237/mo): Des Moines ($1,131/mo), Urbandale ($1,203/mo).

What percentage of Norwalk residents rent vs. own?

According to Census data, approximately 17.5% of Norwalk households are renters, while 82.5% are owner-occupied. Norwalk leans toward homeownership, which can mean a smaller rental inventory.

How does Norwalk rent compare to the national average?

Norwalk's median rent of $1,237/mo is $725 (37%) below the US national median of $1,962/mo. Within Iowa, it ranks #17 out of 33 tracked cities.
Income Affordability
14%
VERY AFFORDABLE

At $1,237/mo, rent takes ~14% of Norwalk's median household income ($102,722/yr). The standard benchmark is 30%.

Norwalk 14%Benchmark 30%
State income tax3.8%
Run the Norwalk affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Norwalk, IA

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