salaryRent here is among the lowest 10% of all U.S. cities. That makes it a rare mix of above-average pay and below-average rent. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (82.5%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $37,080 a year. That is $18 an hour at a full-time job.
Is rent cheaper than other Iowa cities?
Yes. Rent here is cheaper than in most of Iowa. It is number 25 of 86 cities from cheapest to most expensive.
How much do households earn in Norwalk?
Share of households by yearly income. 37.8% of households earn $100,000 or more.
Rent by apartment size in Norwalk
| Size | Norwalk | U.S. average |
|---|---|---|
| 2 bedrooms | $982 | $1,509 |
| 3 bedrooms | $1,775 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Norwalk overall?
Everyday prices in Iowa overall are 12% below the U.S. average (index 87.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Norwalk, so the Iowa figure is shown.
Taxes and bills in Norwalk
Life in Norwalk
Is it cheaper to rent or buy in Norwalk?
Renting is cheaper right now: about $1,176 a month less.
Owning assumes a typical $303,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,310 for the down payment.
Frequently asked questions
What is the average rent in Norwalk, IA?
Renting in Norwalk costs a median of about $927 a month in 2026, including utilities. The Iowa median is $1,071.
How much do I need to make to live in Norwalk?
To keep rent under 30% of income, you need about $37,080 a year, or $18 an hour at a full-time job.
Is Norwalk cheap or expensive?
Norwalk is rated Cheap: rent takes 10.0% of the typical household income of $110,786. It ranks 25th cheapest of 86 Iowa cities we track.
How much are property taxes in Norwalk?
The median homeowner in Norwalk pays $4,924 a year in property taxes, about 1.62% of the median home value.
Is Norwalk more expensive than the national average?
Overall prices in Iowa are 12% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Norwalk?
The median home value in Norwalk is $303,100, about 2.7 times the typical yearly household income.
14,183 people live in Norwalk. Numbers are typical (middle) values.