Commercial Real Estate Market in Norway, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Norway, IA spans 35.0 square miles in Benton County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Norway, IA runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Norway, IA runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Norway, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Norway, IA runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Civic 89.3%
- Industrial 0.4%
Largest Zones share of zoned land by district
Old Single Family Residential
Public
New Single Family Residential
Business
Multifamily Residential
Old Single Family Residential (A-2)
The purpose of this zoning district is to provide one family dwelling units, churches, places of worship, and parochial schools, public schools, public libraries, parks and playgrounds, customary agricultural operations.
Market overview
Demographics & Economy
Norway, IA has 908 residents in 461 households. Density runs 26 people per square mile. Median household income here is $100,000 and median gross rent $1,105 a month.
908
Population
461
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
98%
High-School Grad
35 sq mi
ZIP Area
26
Density / Sq Mi
$100,000
Median Household Income
$46,359
Median Earnings
$1,105
Median Rent
$186,900
Median Home Value
Tools
Nearby Markets
Methodology & data sources
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 280 zoned acres across 6 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
