Norway, IA Profile: Facts & Data

The City of Norway had a population of 463 as of July 1, 2024. Norway ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Iowa. See peer rankings below.

The primary coordinate point for Norway is located at latitude 41.9028 and longitude -91.9216 in Benton County. The formal boundaries for the City of Norway encompass a land area of 0.45 sq. miles and a water area of 0 sq. miles. Benton County is in the Central time zone (GMT -6).

The City of Norway has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Norway, IA Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	463 (100%)
Population in Households	463 (100.0%)
Population in Families	396 (85.5%)
Population in Group Quarters¹	0
Population Density	1,061
Diversity Index²	15


INCOME
Median Household Income	$98,605
Average Household Income	$118,421
% of Income for Mortgage⁴	15%
Per Capita Income	$57,804
Wealth Index⁵	108
Socioeconomic Status Index⁶	High (70.7)

HOUSING
Total HU (Housing Units)	248 (100%)
Owner Occupied HU	201 (81.0%)
Renter Occupied HU	25 (10.1%)
Vacant Housing Units	22 ( 8.9%)
Median Home Value	$239,706
Average Home Value	$241,791
Housing Affordability Index³	154

HOUSEHOLDS
Total Households	226
Average Household Size	2.05
Family Households	169
Average Family Size	2.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Norway, IA - Peer Comparisons by Rank and Percentile

The table below compares Norway to the other 1,026 incorporated cities, towns and CDPs in Iowa by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.15%	-0.26%
Households	-0.31%	-0.18%
Families		-0.97%
Median Household Income		0.92%
Per Capita Income		2.10%
Owner Occupied HU		0.39%

Variable Description	Rank	Percentile
Total Population	# 458	55th
Population Density	# 236	77th
Median Household Income	# 138	87th
Housing Affordability Index	# 678	66th
Per Capita Income	# 72	93rd
Diversity Index	# 584	43rd

Norway, IA Profile: Facts & Data

Norway, Iowa - Basic Facts

Norway, IA Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Norway, IA - Peer Comparisons by Rank and Percentile

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Benton County