Norwell, MA—02061
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwell, MA
As of Oct '25, the median home price in Norwell, MA is $1,009,000, with a year-over-year change of 5.5%. This indicates that home prices in Norwell, MA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,009,000 | 5.5% |
| Single Family | $1,028,000 | 6.0% |
| Condos | $818,000 | 2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $731,000 | 4.4% |
3 Bed | $857,000 | 5.5% |
4 Bed | $1,237,000 | 6.5% |
| 5 Bed | $1,724,000 | 5.1% |
% of Housing Stock
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 |
% of Rental Stock
Property Listings — Norwell, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwell, MA is 119. This is a increase of 88.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,160,000 | 40.0% |
Listing Count | 33 | 55.0% |
| Listings as % of Homes | 0.4% | 55.0% |
Days on Market | 119 | 88.0% |
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% |
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% |
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% |
Loan Activity
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 |
Affordability — Norwell, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $1,009,000 |
| Median Household Income | $183,000 |