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 $303,951, higher than the Minnesota average of $269,934.
The average cost of rent is $1,587/mo in Norwood, primarily driven by the current value of real estate in the Norwood area. While nearly 33.18% of residents own their homes outright in Norwood, 13.33% rent.
Housing affordability isn’t just about home prices, though. The average household income in Norwood is $9,626 per month. Households that rent pay about 16.49% of their income on rent here. Norwood's most expensive areas are in the southern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Cologne, MN: equally priced homes
- Norwood Young America, MN: less expensive homes
- Young America, MN: higher priced homes
- Waconia, MN: higher priced homes
- Gotha, MN: higher priced homes
- Hamburg, MN: less expensive homes
- Mayer, MN: equally priced homes
- St. Bonifacius, MN: higher priced homes
- Plato, MN: less expensive homes
- New Germany, MN: less expensive homes
Cities with Similar Populations
- Scotrun, PA: less expensive homes
- Lore City, OH: less expensive homes
- Lorimor, IA: less expensive homes
- Losantville, IN: less expensive homes
- Lumberport, WV: less expensive homes
- Mayking, KY: less expensive homes
- McCullom Lake, IL: less expensive homes
- McGrady, NC: less expensive homes
- Millersville, MO: less expensive homes
- Limehouse, SC: less expensive homes
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