Norfolk, MA 02056 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Norfolk, MA—02056

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$788,000

1.5% YoY Growth

Household Income

$197,000

34.6% YoY Growth

Days on Market

30.0% Shorter YoY

Home Price Forecast

1.7%

Median Rent

$3,200

54.6% YoY Growth

1-Bed Rent

$2,150

N/A

2-Bed Rent

$4,500

125.0% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Norfolk, MA

As of Dec '25, the median home price in Norfolk, MA is $788,000, with a year-over-year change of 1.5%. This indicates that home prices in Norfolk, MA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$788,000	1.5%
Single Family	$808,000	1.6%
Condos	$708,000	2.5%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Norfolk, MA

As of July '25, Rentcast reports the average rent in Norfolk, MA is $4,050, with a year-over-year rent change of 54.6%. Per bedroom, the median rent as of July '25 in Norfolk, MA is 1-bedrooms: $2,200, 2-bedrooms: $4,500, 4-bedrooms: $5,130. The most common rental property sizes in Norfolk, MA are 1-bedroom and 3-bedroom, accounting for 40.2% and 37.2% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$3,200	$4,050
Studio Rent	N/A	N/A
1 Bed Rent	$2,150	$2,200
2 Bed Rent	$4,500	$4,500
3 Bed Rent	N/A	N/A
4 Bed Rent	$6,000	$5,130

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% of Rental Stock

1 Bedroom

40.2%

2 Bedrooms

11.6%

3 Bedrooms

37.2%

4 Bedrooms

11.0%

Property Listings — Norfolk, MA

As of Dec '25, Realtor.com reports that the median days on market for a home in Norfolk, MA is 50. This is a decrease of -17.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$1,180,000	14.0%
Listing Count	27	10.0%
Listings as % of Homes	0.7%	10.0%
Days on Market	78	-30.0%

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Demographics — Norfolk, MA

As of the latest ACS Survey released in 2023, Norfolk, MA has a population of 11,600, which has increased by 2.1% over the past 5 years. Norfolk, MA is a moderately popular place for families, as children make up 24.9% of the population. The area has a highly educated workforce, with 58.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	11,600	2.1%
% Under 18	24.9%	11.2%
% Seniors	13.3%	1.5%
% WFH	31.0%	256.3%
% w/ College Degree	58.5%	9.6%

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As of the latest ACS Survey released in 2023, Norfolk, MA is a predominantly white area, with 82.8% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Norfolk, MA is black, making up 6.6% of the population. Foreign-born residents account for 6.8% of the population in Norfolk, MA, and this percentage has decreased by 4.2% 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	82.8%	-1.7%
% Black	6.6%	3.1%
% Hispanic	4.4%	-38.9%
% Asian	2.2%	29.4%
% Foreign Born	6.8%	-4.2%

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Mortgage and Risk — Norfolk, MA

According to HUD data as of 2023, there were 240 mortgage originations in Norfolk, MA, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Norfolk, MA. Investor activity is low, as 0.0% 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	240
% Conventional Loans	96.0%
% Government Loans	4.0%
% Investor Loans	0.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Norfolk, MA

Norfolk, MA lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	6
Total Units Section 8	6
% Rentals under Section 8	3.0%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$10	$2,150	$2,140
2 Bedroom	-$1,950	$4,500	$2,550
3 Bedroom	N/A	N/A	$3,080
4 Bedroom	-$2,610	$6,000	$3,390

Norfolk, MA—02056

Key Metrics at a Glance

Home Price Trends — Norfolk, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Norfolk, MA

% of Rental Stock

Property Listings — Norfolk, MA

Demographics — Norfolk, MA

Race and Ethnicity

Mortgage and Risk — Norfolk, MA

Mortgages

Rentals and Section 8 — Norfolk, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Norfolk, MA

Home Price to Income Ratio

Norfolk, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Walpole, MA

Millis, MA

Wrentham, MA

Medfield, MA

Walpole, MA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.5
Median Home Price	$788,000
Median Household Income	$197,000

Norfolk, MA—02056

Key Metrics at a Glance

Home Price Trends — Norfolk, MA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Norfolk, MA

% of Rental Stock

Property Listings — Norfolk, MA

Demographics — Norfolk, MA

Race and Ethnicity

Mortgage and Risk — Norfolk, MA

Mortgages

Rentals and Section 8 — Norfolk, MA

Section 8 Market Size

Section 8 Opportunity

Affordability — Norfolk, MA

Home Price to Income Ratio

Norfolk, MA — ZIP Code Boundary Map

Nearby ZIP Codes

Walpole, MA

Millis, MA

Wrentham, MA

Medfield, MA

Walpole, MA

Frequently Asked Questions

What is the average home price in Norfolk, MA 02056?

How have home prices in Norfolk, MA 02056 changed over the past year?

What is the home price projection for Norfolk, MA 02056?

What are the demographics of Norfolk, MA 02056?

How long does it take homes to sell in Norfolk, MA 02056?

What is the average rent price in Norfolk, MA 02056?