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Real Estate Prices & Overview

Norway median real estate price is $197,128, which is more expensive than 39.2% of the neighborhoods in Indiana and 20.4% of the neighborhoods in the U.S.

The average rental price in Norway is currently $1,320, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 67.5% of Indiana neighborhoods.

Norway is a rural neighborhood (based on population density) located in Monticello, Indiana.

Norway real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Norway neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Norway. The current real estate vacancy rate here is 46.3%. This is higher than the rate of vacancies in 98.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (37.2%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Monticello, the Norway neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Owner-occupied real estate dominates the Norway neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 98.6% of neighborhoods in America. Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 46.3% of the residential real estate vacant, the Norway neighborhood claims the distinction of having a higher vacancy rate than 98.4% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

In addition, one of the notable things about Norway is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.

People

If you are planning to retire in Indiana, this neighborhood should be on your must-see list. For many reasons, Norway may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Indiana, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 96.0% of neighborhoods in IN. If a Indiana retirement is in your future, this neighborhood should be one of the places you visit.

Diversity

Did you know that the Norway neighborhood has more Croatian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Croatian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Norway neighborhood in Monticello are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 47.0% of the neighborhoods in America. In addition, 3.7% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 69.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Norway neighborhood, 34.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 34.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (21.1%), and 9.3% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Norway neighborhood is English, spoken by 94.9% of households. Other important languages spoken here include Polish and Italian.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Norway neighborhood in Monticello, IN, residents most commonly identify their ethnicity or ancestry as German (19.3%). There are also a number of people of Irish ancestry (10.6%), and residents who report English roots (9.1%), and some of the residents are also of Polish ancestry (4.5%), along with some Italian ancestry residents (3.7%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Norway neighborhood spend under 15 minutes commuting one-way to work (31.4% of working residents), one of the shortest commutes across America.

Here most residents (75.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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