Norristown, PA—19403
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 $440,000, with a year-over-year change of 2.9%. This indicates that home prices in Norristown, PA are increasing. 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 | $440,000 | 2.9% |
| Single Family | $456,000 | 2.7% |
| Condos | $255,000 | 3.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $197,000 | 3.1% |
2 Bed | $277,000 | 2.6% |
3 Bed | $409,000 | 2.2% |
4 Bed | $558,000 | 3.7% |
| 5 Bed | $637,000 | 3.6% |
% of Housing Stock
Rental Trends — Norristown, PA
As of July '25, Rentcast reports the average rent in Norristown, PA is $2,050, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Norristown, PA is studios: $1,360, 1-bedrooms: $1,510, 2-bedrooms: $1,900, 3-bedrooms: $2,910, 4-bedrooms: $3,150. The most common rental property sizes in Norristown, PA are 2-bedroom and 1-bedroom, accounting for 49.7% and 31.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,050 |
| Studio Rent | $1,360 | $1,360 |
| 1 Bed Rent | $1,540 | $1,510 |
| 2 Bed Rent | $1,800 | $1,900 |
| 3 Bed Rent | $2,800 | $2,910 |
| 4 Bed Rent | $3,150 | $3,150 |
% 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 42. This is a increase of 7.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $479,000 | 11.0% |
Listing Count | 96 | 5.0% |
| Listings as % of Homes | 0.4% | 5.0% |
Days on Market | 42 | 7.0% |
Demographics — Norristown, PA
As of the latest ACS Survey released in 2023, Norristown, PA has a population of 44,000, which has decreased by -4.8% over the past 5 years. Norristown, PA is a moderately popular place for families, as children make up 16.4% of the population. The area has a highly educated workforce, with 47.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 44,000 | -4.8% |
% Under 18 | 16.4% | -11.4% |
% Seniors | 21.0% | 13.5% |
% WFH | 21.6% | 254.1% |
% w/ College Degree | 47.9% | 6.7% |
As of the latest ACS Survey released in 2023, Norristown, PA is a predominantly white area, with 75.2% of the population identifying as white. The white population has shrunk by 0.8% in the last 5 years. The second most common race or ethnicity in Norristown, PA is asian, making up 9.2% of the population. Foreign-born residents account for 12.7% of the population in Norristown, PA, and this percentage has decreased by 6.6% 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 | 75.2% | -0.8% |
% Black | 7.7% | -12.5% |
% Hispanic | 5.8% | 41.5% |
% Asian | 9.2% | -5.2% |
% Foreign Born | 12.7% | -6.6% |
Mortgage and Risk — Norristown, PA
According to HUD data as of 2023, there were 855 mortgage originations in Norristown, PA, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Norristown, PA. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 855 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Norristown, PA
As of 2024, the percent of homes in Norristown, PA under the Section 8 program is 3.0%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Norristown, PA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 173 |
Total Units Section 8 | 167 |
% Rentals under Section 8 | 3.0% |
% Occupied Section 8 | 77.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $160 | $1,540 | $1,700 |
| 2 Bedroom | $220 | $1,800 | $2,020 |
| 3 Bedroom | -$370 | $2,800 | $2,430 |
| 4 Bedroom | -$380 | $3,150 | $2,770 |
Affordability — Norristown, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $440,000 |
| Median Household Income | $102,000 |