The housing market in Norwich, NY is steadily increasing with a median property value of $112,100. This is significantly lower than the national average of $338,100 allowing individuals and families to purchase homes at much more reasonable prices. Furthermore, the appreciation rate of 8.92% in Norwich over the past year is higher than the 8.27% for houses across the nation, indicating that purchasing a house in Norwich can be a great investment. With a growing housing market and attractive prices, Norwich can be an ideal place to live for those looking for affordable housing options.
The median home cost in Norwich is $112,100. Home appreciation the last 10 years has been 50.8%. Home Appreciation in Norwich is up 14.8%.
Average Age of Homes
- The median age of Norwich real estate is 78 years old
The Rental Market in Norwich
- Renters make up 42.2% of the Norwich population
- 0.8% of houses and apartments in Norwich, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.