The Most Affordable Neighborhoods in Norwood, NY by Home Value

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 $110,464, lower than the New York average of $610,895.

The average cost of rent is $854/mo in Norwood, primarily driven by the current value of real estate in the Norwood area. In Norwood, 20.00% of households rent, and 45.34% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Norwood is $5,277 per month. Households that rent pay about 16.18% of their income on rent here. Norwood’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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