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These days, finding an affordable place to live in the Norman area can be challenging. Home prices in Norman are now at a median cost of $179,707, lower than the Indiana average of $232,932.
The average cost of rent is $1,123/mo in Norman, primarily driven by the current value of real estate in the Norman area. In Norman, 8.22% of households rent, and 48.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Norman is $7,628 per month. Households that rent pay about 14.73% of their income on rent here. Norman’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Zelma, IN: higher priced homes
- Leesville, IN: higher priced homes
- Medora, IN: less expensive homes
- Freetown, IN: higher priced homes
- Elkinsville, IN: higher priced homes
- Houston, IN: higher priced homes
- Kurtz, IN: less expensive homes
- Heltonville, IN: higher priced homes
- Surprise, IN: equally priced homes
- Crawford, IN: higher priced homes
Cities with Similar Populations
- Petersham, MA: higher priced homes
- Reeve, WI: higher priced homes
- Prospect, OR: higher priced homes
- Progress, TX: equally priced homes
- Proctor, AR: less expensive homes
- Primrose, GA: higher priced homes
- Popcorn, IN: equally priced homes
- Pocasset, OK: higher priced homes
- Piney Green, NC: higher priced homes
- Rhodo, NC: less expensive homes
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