Norwood, MA—02062
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwood, MA
As of Oct '25, the median home price in Norwood, MA is $717,000, with a year-over-year change of 0.4%. This indicates that home prices in Norwood, MA are flat. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $717,000 | 0.4% |
| Single Family | $740,000 | -0.1% |
| Condos | $472,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $326,000 | 0.6% |
2 Bed | $552,000 | 1.1% |
3 Bed | $714,000 | 0.1% |
4 Bed | $836,000 | -0.2% |
| 5 Bed | $941,000 | -0.1% |
% of Housing Stock
Rental Trends — Norwood, MA
As of July '25, Rentcast reports the average rent in Norwood, MA is $2,760, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Norwood, MA is studios: $1,950, 1-bedrooms: $2,260, 2-bedrooms: $2,880, 3-bedrooms: $3,520, 4-bedrooms: $3,580. The most common rental property sizes in Norwood, MA are 2-bedroom and 1-bedroom, accounting for 50.7% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $2,760 |
| Studio Rent | $1,900 | $1,950 |
| 1 Bed Rent | $2,260 | $2,260 |
| 2 Bed Rent | $2,870 | $2,880 |
| 3 Bed Rent | $3,400 | $3,520 |
| 4 Bed Rent | $3,700 | $3,580 |
% of Rental Stock
Property Listings — Norwood, MA
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwood, MA is 25. This is a increase of 4.0% 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 69.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $679,000 | -5.0% |
Listing Count | 29 | 3.0% |
| Listings as % of Homes | 0.1% | 3.0% |
Days on Market | 25 | 4.0% |
Demographics — Norwood, MA
As of the latest ACS Survey released in 2023, Norwood, MA has a population of 31,400, which has increased by 7.5% over the past 5 years. Norwood, MA is a moderately popular place for families, as children make up 19.3% of the population. The area has a highly educated workforce, with 53.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,400 | 7.5% |
% Under 18 | 19.3% | -2.0% |
% Seniors | 18.7% | 8.1% |
% WFH | 14.6% | 294.6% |
% w/ College Degree | 53.1% | 11.8% |
As of the latest ACS Survey released in 2023, Norwood, MA is a predominantly white area, with 70.2% of the population identifying as white. The white population has shrunk by 10.7% in the last 5 years. The second most common race or ethnicity in Norwood, MA is hispanic, making up 9.1% of the population. Foreign-born residents account for 21.6% of the population in Norwood, MA, and this percentage has increased by 14.9% 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 | 70.2% | -10.7% |
% Black | 7.0% | -4.1% |
% Hispanic | 9.1% | 31.9% |
% Asian | 6.8% | 1.5% |
% Foreign Born | 21.6% | 14.9% |
Mortgage and Risk — Norwood, MA
According to HUD data as of 2023, there were 414 mortgage originations in Norwood, MA, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Norwood, MA. Investor activity is low, as 4.0% 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 | 414 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Norwood, MA
As of 2024, the percent of homes in Norwood, MA under the Section 8 program is 13.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Norwood, MA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 917 |
Total Units Section 8 | 821 |
% Rentals under Section 8 | 13.1% |
% Occupied Section 8 | 95.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $2,260 | $2,290 |
| 2 Bedroom | -$160 | $2,870 | $2,710 |
| 3 Bedroom | -$140 | $3,400 | $3,260 |
| 4 Bedroom | -$110 | $3,700 | $3,590 |
Affordability — Norwood, MA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.4 |
| Median Home Price | $717,000 |
| Median Household Income | $97,100 |