Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Norwood area can be challenging. Home prices in Norwood are now at a median cost of $206,734, higher than the Michigan average of $196,062.
The average cost of rent is $885/mo in Norwood, primarily driven by the current value of real estate in the Norwood area. While nearly 38.64% of residents own their homes outright in Norwood, 16.07% rent.
Housing affordability isn’t just about home prices, though. The average household income in Norwood is $5,460 per month. Households that rent pay about 16.21% of their income on rent here. Norwood's most expensive areas are in the central regions, while the cheapest areas are in the southwestern parts of the city.
Nearby Cities
- Ellsworth, MI: less expensive homes
- Charlevoix, MI: higher priced homes
- Eastport, MI: higher priced homes
- Ironton, MI: higher priced homes
- Central Lake, MI: less expensive homes
- Northport, MI: higher priced homes
- Burgess, MI: higher priced homes
- East Jordan, MI: less expensive homes
- Pleasant Valley, MI: less expensive homes
- Horton Bay, MI: equally priced homes
Cities with Similar Populations
- Brooks, MS: less expensive homes
- White Oak Springs, WV: less expensive homes
- Whispering Pines, CA: higher priced homes
- Wheeling, AR: less expensive homes
- Westwood, PA: less expensive homes
- Westover, VA: less expensive homes
- Westampton, NJ: higher priced homes
- West Vindex, MD: less expensive homes
- West Swanton, VT: less expensive homes
- West Springfield, NH: higher priced homes
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