Quick facts: Norwalk, CA

Quick Facts

127.6
Cost of Living
above US average
98,537
Population
20.51
Crime Rate per 1000
below US average
$91,259
Median Income
above US average
$699,999
Median House Price
above US average
$2972.15
Average Rent
above US average
14%
Poverty Rate
above US average
6.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $91,259.

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Income Needed to Buy

βœ— Stretch
$220k/year
Based on $699,999 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $220k vs median $91,259
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Income Needed to Rent

⚠ Stretch
$127k/year
Based on $2972.15/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $127k vs median $91,259
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Norwalk, CA

Norwalk, California, located in Los Angeles County, is a vibrant city with a rich blend of residential neighborhoods and commercial areas. Known for its diverse community, Norwalk has a population of around 105,000 residents and offers a mix of urban and suburban feel. The city is well-connected through several major freeways, making it easy to access nearby attractions and other parts of Los Angeles County. Norwalk is home to the bustling Norwalk Town Square, which features a variety of shopping, dining, and entertainment options. The city's commitment to green spaces is evident in its parks, such as Norwalk Park and Del Valle Park, which provide recreational facilities for residents. Culturally, Norwalk hosts events throughout the year, including the Norwalk Arts & Sports Festival, celebrating local talent and community spirit. The city also boasts a municipal library and educational institutions, adding to its appeal for families. With its strategic location near larger metropolitan areas, Norwalk serves as a great hub for those looking to explore Southern California while enjoying a community-oriented lifestyle.

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