Norwalk, Iowa Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Norwalk, Iowa rental market.
Norwalk, Iowa
Average Apartment Rent
$1,198
Y-o-Y Change in Average
Apartment Rent
7.1%
As of May 2026
Compared to a year ago, Norwalk, Iowa apartments have recorded a 7.1% rent increase.
Norwalk, Iowa Average apartment rent trend
Norwalk, Iowa Average Apartment Rent
Norwalk, Iowa Apartment rent ranges
At 71.73%, apartments priced $1,000 - $1,500 represent the bulk of Norwalk, Iowa rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 7.02%.
Norwalk, Iowa Housing tenure**
Renters take up 16% of Norwalk, Iowa real estate, occupying a total of 806 units, while homeowners live in 4,239 properties.
Median number of rooms of renter-occupied housing units**
3.2
Renter median household income**
$49,231
Average household size of renter-occupied housing units**
2.17
Rental vacancy rate**
1.8%
Norwalk, Iowa Renter-occupied housing units by no. of bedrooms**
There are 296 rentals in Norwalk, Iowa with 2 beds making up the highest share of the market, at 37%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 20 units. Overall, the median number of rooms in Norwalk, Iowa homes for rent is 3.2.
Norwalk, Iowa Renter-occupied units by age of householder**
Most condos for rent in Norwalk, Iowa are occupied by residents in the 25 - 34 years age group (31%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 1%.
Norwalk, Iowa Renter-occupied housing units by family type**
Norwalk, Iowa Renter-occupied housing units by the presence of own children**
A total of 272 apartments for rent in Norwalk, Iowa, or 34% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 223 units. All in all, the median size of a renter-occupied household in Norwalk, Iowa is 2.17.
Norwalk, Iowa Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 37% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Norwalk, Iowa.
Norwalk, Iowa Renter-occupied units by year structure built**
The highest share of Norwalk, Iowa apartment rentals, namely 26% or 208 units, were Built 1980 - 1989, followed by those Built 2010 - 2019 (20%, 164 units), and the ones Built 2000 - 2009 (20%, 160 units).
Norwalk, Iowa Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Norwalk, Iowa renters (53%) moved in 2018 to 2020, while only 5% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Norwalk, Iowa condos for rent is 2018.
Norwalk, Iowa Renter-occupied housing units by vehicles available**
When it comes to transportation options, 66% of Norwalk, Iowa renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 4% have No vehicle available.
Norwalk, Iowa Means of transportation to work of householders living in renter-occupied housing units**
Norwalk, Iowa Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Norwalk, Iowa apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
