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Nora Springs

Learn about the people, housing, costs and businesses in Nora Springs, Iowa

Median Home$147,512
Median Rent$794/month
Population1,448
Leading IndustriesRetail · Construction · Manufacturing18% retail
Home Value Growth-2.8% over 2 years
Family-Friendly23% of residentsnear the national average
Homeowners85% of occupied units
NotableHigh Incomes$93k/year · top 22% nationally
NotableAffordable Market$148k median home · lower cost than 75% of the country
Nora Springs
IA

Frequently Asked Questions

What are today's mortgage rates in Nora Springs?

As of today, the 30-year fixed mortgage rate for Nora Springs is approximately 7.053% (7.094% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Nora Springs?

The median home value in Nora Springs is $148k. The median monthly rent is $794. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Nora Springs?

Home values in Nora Springs have decreased 2.8% over the past two years. Buyers may find more negotiating room in this market. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Nora Springs?

Based on a typical all-in ownership cost of $931/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $40k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Nora Springs is $93k/year.

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What industries drive the economy in Nora Springs?

The largest employment sectors in Nora Springs are public administration (25%) and retail (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.