Norwell, MA 02061 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Norwell, MA—02061

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$1,080,000

5.7% YoY Growth

Household Income

$183,000

20.7% YoY Growth

Days on Market

663.0% Longer YoY

Home Price Forecast

0.6%

Median Rent

$2,700

8.8% YoY Growth

1-Bed Rent

$2,200

54.0% YoY Growth

2-Bed Rent

$3,950

N/A

3-Bed Rent

$4,200

43.1% YoY Growth

Home Price Trends — Norwell, MA

As of May '26, the median home price in Norwell, MA is $1,080,000, with a year-over-year change of 5.7%. This indicates that home prices in Norwell, MA are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$1,080,000	5.7%
Single Family	$1,105,000	5.6%
Condos	$853,000	6.5%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Norwell, MA

As of July '25, Rentcast reports the average rent in Norwell, MA is $3,330, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Norwell, MA is 1-bedrooms: $2,300, 2-bedrooms: $3,950, 3-bedrooms: $4,580. The most common rental property sizes in Norwell, MA are 1-bedroom and 3-bedroom, accounting for 42.3% and 26.8% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$2,700	$3,330
Studio Rent	N/A	N/A
1 Bed Rent	$2,200	$2,300
2 Bed Rent	$3,950	$3,950
3 Bed Rent	$4,200	$4,580
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

42.3%

2 Bedrooms

15.2%

3 Bedrooms

26.8%

4 Bedrooms

15.8%

Property Listings — Norwell, MA

As of May '26, Realtor.com reports that the median days on market for a home in Norwell, MA is 31. This is a increase of 663.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$1,800,000	68.0%
Listing Count	55	110.0%
Listings as % of Homes	0.4%	110.0%
Days on Market	31	663.0%

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Demographics — Norwell, MA

As of the latest ACS Survey released in 2023, Norwell, MA has a population of 11,300, which has increased by 2.9% over the past 5 years. Norwell, MA is a popular place for families, as children make up 28.8% of the population. The area has a highly educated workforce, with 65.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 23.6% reporting working from home.

Metric	Latest Census	YoY % Change
Population	11,300	2.9%
% Under 18	28.8%	2.1%
% Seniors	15.4%	-10.5%
% WFH	23.6%	274.6%
% w/ College Degree	65.3%	-2.2%

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As of the latest ACS Survey released in 2023, Norwell, MA is a predominantly white area, with 89.9% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Norwell, MA is hispanic, making up 3.3% of the population. Foreign-born residents account for 4.7% of the population in Norwell, MA, and this percentage has increased by 30.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	89.9%	-5.4%
% Black	0.6%	50.0%
% Hispanic	3.3%	153.8%
% Asian	3.1%	106.7%
% Foreign Born	4.7%	30.6%

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Mortgage and Risk — Norwell, MA

According to HUD data as of 2023, there were 270 mortgage originations in Norwell, MA, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 42.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Norwell, MA. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	270
% Conventional Loans	97.0%
% Government Loans	3.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Norwell, MA

Norwell, MA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	15
Total Units Section 8	15
% Rentals under Section 8	3.5%
% Occupied Section 8	96.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$240	$2,200	$2,440
2 Bedroom	-$1,060	$3,950	$2,890
3 Bedroom	-$720	$4,200	$3,480
4 Bedroom	N/A	N/A	$3,830

Norwell, MA—02061

Key Metrics at a Glance

Home Price Trends — Norwell, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Norwell, MA

% of Rental Stock

Property Listings — Norwell, MA

Demographics — Norwell, MA

Race and Ethnicity

Mortgage and Risk — Norwell, MA

Mortgages

Rentals and Section 8 — Norwell, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Norwell, MA

Home Price to Income Ratio

Norwell, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Hanover, MA

Scituate, MA

Cohasset, MA

Hingham, MA

Pembroke, MA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.7
Median Home Price	$1,080,000
Median Household Income	$183,000

Norwell, MA—02061

Key Metrics at a Glance

Home Price Trends — Norwell, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Norwell, MA

% of Rental Stock

Property Listings — Norwell, MA

Demographics — Norwell, MA

Race and Ethnicity

Mortgage and Risk — Norwell, MA

Mortgages

Rentals and Section 8 — Norwell, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Norwell, MA

Home Price to Income Ratio

Norwell, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Hanover, MA

Scituate, MA

Cohasset, MA

Hingham, MA

Pembroke, MA

Frequently Asked Questions

What is the average home price in Norwell, MA 02061?

How have home prices in Norwell, MA 02061 changed over the past year?

What is the home price projection for Norwell, MA 02061?

What are the demographics of Norwell, MA 02061?

How long does it take homes to sell in Norwell, MA 02061?

What is the average rent price in Norwell, MA 02061?