Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 25,042 people, 6,935 houses or apartments, and a median cost of homes of $964,258, real estate costs in Norco are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Norco, accounting for 95.07% of the city's housing units. Other types of housing that are prevalent in Norco include large apartment complexes or high rise apartments ( 2.36%), row houses and other attached homes ( 1.84%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norco. Owner-occupied housing accounts for 74.06% of Norco's homes, and 68.63% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Norco built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Norco built between 1940-1969 ( 35.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.69%). There's also some housing in Norco built before 1939 ( 3.44%).
Appreciation rates for homes in Norco have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 100.94%, which ranks in the top 40% nationwide. This equates to an annual average Norco house appreciation rate of 7.23%.
NeighborhoodScout's data show that during the latest twelve months, Norco's appreciation rate, at 7.50%, has been at or slightly above the national average. In the latest quarter, Norco's appreciation rate has been 2.37%, which annualizes to a rate of 9.83%.
Relative to California, our data show that Norco's latest annual appreciation rate is higher than 60% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Norco differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norco - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Norco real estate investment or home purchase decisions.
$964,258
for California
for nation
6,935
$3,336 / per month