Market Overview
Home Prices in Nora Springs, IA
The median home value in Nora Springs, IA is $193,094 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.9% compared to a year ago and up 2.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Nora Springs are priced53% below average. Nora Springs is part of the Mason City, IA metro area.
Over the past five years, Nora Springs home values have risen by approximately31.6%, reflecting strong long-term appreciation in this market.
Price History
Nora Springs Home Price Trend
City Comparison
Nora Springs vs. National Median
At $193,094, homes in Nora Springs cost 53% below the national median of $410,000. This makes Nora Springs a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Nora Springs?
20% Down Payment
$38,619
on $193,094
Monthly P&I
$1,007/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,279/mo
incl. taxes & insurance
Income Needed
$51,160
gross annual (30% rule)
10% Down Option
$19,309
+ PMI applies
Loan Amount (20% dn)
$154,475
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Nora Springs, IA?
The median home value in Nora Springs is $193,094 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.9% year-over-year.
How much have home prices changed in Nora Springs?
Over the past year, home values in Nora Springs have increased by 5.9%. Over five years, prices have risen approximately 31.6%.
How much do I need to earn to buy a home in Nora Springs?
To comfortably afford the median home price of $193,094 with a 20% down payment ($38,619) at today's rates (6.8%), you'd need a gross annual income of approximately $51,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Nora Springs compare to the national average home price?
The national median home value is approximately $410,000. At $193,094, homes in Nora Springs are 53% below the national average.
What metro area is Nora Springs part of?
Nora Springs is part of the Mason City, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.