Norristown, PA—19401
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Norristown, PA
Home Price Trends — Norristown, PA
As of Oct '25, the median home price in Norristown, PA is $261,000, with a year-over-year change of 2.7%. This indicates that home prices in Norristown, PA are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $261,000 | 2.7% |
| Single Family | $260,000 | 2.4% |
| Condos | $286,000 | 0.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $218,000 | 1.9% |
3 Bed | $272,000 | 2.3% |
4 Bed | $262,000 | 2.3% |
| 5 Bed | $232,000 | 4.0% |
% of Housing Stock
Rental Trends — Norristown, PA
As of July '25, Rentcast reports the average rent in Norristown, PA is $1,630, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Norristown, PA is studios: $1,190, 1-bedrooms: $1,360, 2-bedrooms: $1,640, 3-bedrooms: $2,150, 4-bedrooms: $2,260. The most common rental property sizes in Norristown, PA are 2-bedroom and 1-bedroom, accounting for 31.9% and 31.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,630 |
| Studio Rent | $1,200 | $1,190 |
| 1 Bed Rent | $1,300 | $1,360 |
| 2 Bed Rent | $1,600 | $1,640 |
| 3 Bed Rent | $2,190 | $2,150 |
| 4 Bed Rent | $2,210 | $2,260 |
% of Rental Stock
Property Listings — Norristown, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Norristown, PA is 58. This is a increase of 28.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $277,000 | -9.0% |
Listing Count | 118 | 37.0% |
| Listings as % of Homes | 0.4% | 37.0% |
Days on Market | 58 | 28.0% |
Demographics — Norristown, PA
As of the latest ACS Survey released in 2023, Norristown, PA has a population of 43,100, which has increased by 2.3% over the past 5 years. Norristown, PA is a moderately popular place for families, as children make up 21.6% of the population. The area has a moderately educated workforce, with 27.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,100 | 2.3% |
% Under 18 | 21.6% | -9.6% |
% Seniors | 13.8% | -4.8% |
% WFH | 12.2% | 183.7% |
% w/ College Degree | 27.9% | 3.7% |
As of the latest ACS Survey released in 2023, Norristown, PA is a predominantly white area, with 32.9% of the population identifying as white. The white population has shrunk by 10.8% in the last 5 years. The second most common race or ethnicity in Norristown, PA is black, making up 29.3% of the population. Foreign-born residents account for 17.0% of the population in Norristown, PA, and this percentage has decreased by 4.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 32.9% | -10.8% |
% Black | 29.3% | -8.7% |
% Hispanic | 28.6% | 23.3% |
% Asian | 3.2% | -13.5% |
% Foreign Born | 17.0% | -4.5% |
Mortgage and Risk — Norristown, PA
According to HUD data as of 2023, there were 514 mortgage originations in Norristown, PA, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Norristown, PA. Investor activity is low, as 8.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 514 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Norristown, PA
As of 2024, the percent of homes in Norristown, PA under the Section 8 program is 14.6%. 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. In Norristown, PA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,389 |
Total Units Section 8 | 1,347 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 70.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,300 | $1,540 |
| 2 Bedroom | $230 | $1,600 | $1,830 |
| 3 Bedroom | $10 | $2,190 | $2,200 |
| 4 Bedroom | $300 | $2,210 | $2,510 |
Affordability — Norristown, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $261,000 |
| Median Household Income | $68,600 |