52318, Norway, IA

Norway is a small town located in the northwest corner of Iowa. According to the 2010 census, Norway has a population of 1,851. The median household income was $41,583 and the median family income was $50,917. In Norway, the median home value was $131,500 and the median mortgage debt was $103,000.

The 52318 zip code is home to many families who are struggling with their home equity and home prices. The average price of a single-family home in this zip code is just over $131,500 and the average mortgage debt is just over $103,000. This means that many families are struggling to pay off their mortgages and have little or no equity in their homes. In addition, there has been an increase in homes that are being foreclosed on in this zip code. For example, between 2007 and 2012 there was an increase of 57%. This means that more families are losing their homes to foreclosure than ever before.

In addition to these challenges faced by families in this zip code, there have also been some recent changes that could impact home values and homeownership rates here in Norway:

1) The Federal Reserve has begun raising interest rates which could lead to an increase in mortgage payments for homeowners;

2) There has been an increase in people who are living below poverty level which could lead to a decrease in demand for homes;

3) There has been an increase in housing prices throughout much of Iowa which could make it more difficult for homeowners who want to sell their homes;

4) There has been an overall decrease in population growth throughout Iowa which could lead to a decrease demand for housing;

5) Finally, there have been several cases where banks have not approved mortgages due to concerns about borrowers’ creditworthiness (e.g., because they have had delinquent loans or because they have low credit scores). These factors all together may be leading to decreased demand for homes within the 52318 zip code – both from current homeowners looking to sell their homes as well as new buyers looking into purchasing a home here.