The story of this market
The typical home in ZIP 52318 sells for about $276,465, or $128 per square foot.
Prices are up +4.2% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $1,105 a month.
ZIP 52318 — Norway
The housing market in 52318 is characterized by low inventory and steady, modest price appreciation consistent with rural Iowa trends. Demand is driven by local residents and commuters seeking affordable single-family homes, with limited new construction activity keeping the market balanced.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with a lower cost of living compared to urban centers. It appeals to those who do not mind a commute to larger employment hubs in exchange for small-town community living.
Median prices moved up 4.2% year over year.
Homes spend a median of 45 days on market with 4.0 months of supply — a fast-moving market.
8% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.6% · poverty 3.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 52318, Benton County IA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the Norway area are generally low, consistent with the rural character of Benton County. Regional comparisons indicate significantly lower violent and property crime rates compared to the nearby Cedar Rapids urban core.
Schools serving the area are part of the Benton Community School District, which is generally regarded as providing a stable, small-town educational environment. Performance metrics are consistent with rural Iowa standards.
The area is subject to standard Midwestern weather risks, including severe thunderstorms and occasional wind events. Flood risk is localized to specific low-lying areas near regional creeks, and standard property insurance coverage is readily available.
Economic momentum is driven by proximity to the Cedar Rapids and Iowa City employment corridors, with many residents commuting for work. Local development is primarily residential and agricultural, with limited large-scale commercial infrastructure projects.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Iowa) — Iowa Property Tax Assessment Limitation: The taxable value is determined by applying an assessment limitation (rollback) to the assessed market value. The limitation is calculated annually to restrict the growth in aggregate taxable value for the residential class to 3% statewide.
Commuting is primarily car-dependent, with most residents driving to Cedar Rapids or surrounding industrial hubs via regional highways. Public transit options are not available in this rural ZIP code.
Recreational opportunities include local community parks and access to rural trails and open spaces. Shopping and dining amenities are limited within the ZIP, requiring travel to nearby towns like Vinton or Cedar Rapids.
The rental market is limited in depth, consisting primarily of single-family homes and small-scale residential units. Vacancy pressure is generally low due to the small inventory, and short-term rental presence is minimal.
The local economy is heavily influenced by agriculture and small-scale local services. Most residents participate in the broader Cedar Rapids metropolitan labor market, which features manufacturing, healthcare, and insurance sectors.
Development is largely focused on small-scale residential infill and agricultural land management. There are no major commercial or infrastructure projects currently under construction within the ZIP.
Parcels are subject to Benton County property taxes and the Benton Community School District levy. Utility districts are primarily managed at the municipal or private provider level.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events common in Eastern Iowa.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Bloomsbury Farm4.69.6 mi
- The Fun Station Cedar Rapids4.511.8 mi
- AirFX Trampoline Park4.615.1 mi
- Spare Time Cedar Rapids4.116.7 mi
- Trampoline Park4.115.7 mi
- Bloomsbury Farm4.69.6 mi
- Cedar Ridge Distillery4.711.5 mi
- PinSocial Tiffin417.1 mi
- NewBo City Market4.513.4 mi
- Alliant Energy Power House4.313.2 mi
- Amana Colonies Visitors Center4.65.9 mi
- Bloomsbury Farm4.69.6 mi
- Cedar Ridge Distillery4.711.5 mi
- The Fun Station Cedar Rapids4.511.8 mi
- May City Bowl4.510.5 mi
- National Czech & Slovak Museum & Library4.813 mi
- Cedar Rapids Museum of Art4.613.3 mi
- Brucemore4.714.9 mi
- Ushers Ferry Historic Village4.412.1 mi
- Veterans Memorial Building4.613 mi
- Bloomsbury Farm4.69.6 mi
- Morgan Creek Park4.79.2 mi
- Ellis Park4.513 mi
- Seminole Valley Park4.511.7 mi
- Amana Community Park4.75.9 mi
- Amana Colonies Golf Club4.65.3 mi
- Ellis Park4.513 mi
- Ellis Golf Course4.412.9 mi
- Four Seasons Indoor Golf4.96.2 mi
- Hy-Vee Grocery Store4.411.7 mi
- Hy-Vee Grocery Store4.312.9 mi
- Ross Dress for Less4.19.9 mi
- Burlington3.89.9 mi
- Kohl's4.29.6 mi
- Eastern Iowa Airport4.29.4 mi
- Eastern Iowa Airport4.69.8 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Local green space serving the immediate community.
Regional hub for community events and agricultural exhibitions.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.