Norwood, OH—45212
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norwood, OH
As of Oct '25, the median home price in Norwood, OH is $245,000, with a year-over-year change of 1.0%. This indicates that home prices in Norwood, OH are flat. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $245,000 | 1.0% |
| Single Family | $245,000 | 0.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $140,000 | 2.9% |
2 Bed | $195,000 | 1.0% |
3 Bed | $254,000 | 1.2% |
4 Bed | $330,000 | 2.2% |
| 5 Bed | $361,000 | 2.0% |
% of Housing Stock
Rental Trends — Norwood, OH
As of July '25, Rentcast reports the average rent in Norwood, OH is $1,270, with a year-over-year rent change of -4.5%. Per bedroom, the median rent as of July '25 in Norwood, OH is studios: $931, 1-bedrooms: $1,010, 2-bedrooms: $1,330, 3-bedrooms: $1,850, 4-bedrooms: $2,330. The most common rental property sizes in Norwood, OH are 1-bedroom and 2-bedroom, accounting for 45.8% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,270 |
| Studio Rent | $695 | $931 |
| 1 Bed Rent | $995 | $1,010 |
| 2 Bed Rent | $1,200 | $1,330 |
| 3 Bed Rent | $1,800 | $1,850 |
| 4 Bed Rent | $2,400 | $2,330 |
% of Rental Stock
Property Listings — Norwood, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Norwood, OH is 29. This is a decrease of -7.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $309,000 | 7.0% |
Listing Count | 80 | 11.0% |
| Listings as % of Homes | 0.2% | 11.0% |
Days on Market | 29 | -7.0% |
Demographics — Norwood, OH
As of the latest ACS Survey released in 2023, Norwood, OH has a population of 21,000, which has decreased by -6.8% over the past 5 years. Norwood, OH is a moderately popular place for families, as children make up 18.7% of the population. The area has a moderately educated workforce, with 38.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,000 | -6.8% |
% Under 18 | 18.7% | 0.5% |
% Seniors | 12.3% | 20.6% |
% WFH | 14.8% | 393.3% |
% w/ College Degree | 38.2% | 19.0% |
As of the latest ACS Survey released in 2023, Norwood, OH is a predominantly white area, with 72.6% of the population identifying as white. The white population has shrunk by 7.3% in the last 5 years. The second most common race or ethnicity in Norwood, OH is black, making up 15.6% of the population. Foreign-born residents account for 4.8% of the population in Norwood, OH, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.6% | -7.3% |
% Black | 15.6% | 12.2% |
% Hispanic | 7.5% | 114.3% |
% Asian | 1.0% | 11.1% |
% Foreign Born | 4.8% | 0.0% |
Mortgage and Risk — Norwood, OH
According to HUD data as of 2023, there were 379 mortgage originations in Norwood, OH, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Norwood, OH. Investor activity is low, as 7.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 379 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Norwood, OH
As of 2024, the percent of homes in Norwood, OH under the Section 8 program is 4.7%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Norwood, OH, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 271 |
Total Units Section 8 | 240 |
% Rentals under Section 8 | 4.7% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$35 | $995 | $960 |
| 2 Bedroom | $40 | $1,200 | $1,240 |
| 3 Bedroom | -$160 | $1,800 | $1,640 |
| 4 Bedroom | -$580 | $2,400 | $1,820 |
Affordability — Norwood, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $245,000 |
| Median Household Income | $63,700 |