At $1,208/mo, rent takes about 14% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,208 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
30% of the median household income ($102,722) is $2,568 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,700).
From Zillow's monthly rent index (ZORI) for Norwalk. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Norwalk, IA has changed in 5 years
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.
Discussions about Norwalk
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Can you afford rent in Norwalk on your salary?
At $1,208/mo, how Norwalk rent compares to typical pay (30% rule).
Norwalk rent by bedroom count
Median rent for each apartment size in Norwalk. Click any size for full breakdown.
Tips for renters in Norwalk
Last updated: October 17, 2026
The median rent in Norwalk is $1,208/mo as of October 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.
Frequently asked questions
How much income do you need to rent in Norwalk?
Is rent going up or down in Norwalk?
How does Norwalk rent compare to other cities in Iowa?
Which nearby cities are cheaper to rent in than Norwalk?
At $1,208/mo, rent takes ~14% of Norwalk's median household income ($102,722/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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