Norwood, NC—28128
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwood, NC
As of Oct '25, the median home price in Norwood, NC is $285,000, with a year-over-year change of -0.4%. This indicates that home prices in Norwood, NC are flat. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $285,000 | -0.4% |
| Single Family | $285,000 | -0.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $207,000 | -1.9% |
3 Bed | $296,000 | -0.3% |
4 Bed | $559,000 | 0.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Norwood, NC
As of July '25, Rentcast reports the average rent in Norwood, NC is $3,200, with a year-over-year rent change of 103.8%. Per bedroom, the median rent as of July '25 in Norwood, NC is 4-bedrooms: $3,200. The most common rental property sizes in Norwood, NC are 3-bedroom and 2-bedroom, accounting for 48.7% and 46.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $3,200 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $3,200 | $3,200 |
% of Rental Stock
Property Listings — Norwood, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwood, NC is 83. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $551,000 | 35.0% |
Listing Count | 37 | 37.0% |
| Listings as % of Homes | 0.6% | 37.0% |
Days on Market | 83 | -23.0% |
Demographics — Norwood, NC
As of the latest ACS Survey released in 2023, Norwood, NC has a population of 7,610, which has increased by 7.9% over the past 5 years. Norwood, NC is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 22.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,610 | 7.9% |
% Under 18 | 20.6% | -2.8% |
% Seniors | 16.1% | -21.5% |
% WFH | 10.5% | 56.7% |
% w/ College Degree | 22.3% | 41.1% |
As of the latest ACS Survey released in 2023, Norwood, NC is a predominantly white area, with 80.6% of the population identifying as white. The white population has grown by 8.8% in the last 5 years. The second most common race or ethnicity in Norwood, NC is black, making up 15.4% of the population. Foreign-born residents account for 1.6% of the population in Norwood, NC, and this percentage has decreased by 57.9% 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 | 80.6% | 8.8% |
% Black | 15.4% | -1.9% |
% Hispanic | 1.0% | -54.5% |
% Asian | 0.6% | -86.0% |
% Foreign Born | 1.6% | -57.9% |
Mortgage and Risk — Norwood, NC
According to HUD data as of 2023, there were 180 mortgage originations in Norwood, NC, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Norwood, NC. Investor activity is low, as 2.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 180 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 2.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Norwood, NC
Norwood, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 16 |
Total Units Section 8 | 16 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,270 |
| 4 Bedroom | -$1,660 | $3,200 | $1,540 |
Affordability — Norwood, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $285,000 |
| Median Household Income | $59,900 |