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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 $275,564, lower than the Virginia average of $443,089.
The average cost of rent is $781/mo in Norwood, primarily driven by the current value of real estate in the Norwood area. In Norwood, 14.82% of households rent, and 38.92% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Norwood is $5,151 per month. Households that rent pay about 15.16% of their income on rent here. Norwood’s most expensive areas are in the eastern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Red Apple Orchard, VA: higher priced homes
- Arrington, VA: less expensive homes
- Shipman, VA: equally priced homes
- Tye River, VA: less expensive homes
- Colleen, VA: less expensive homes
- Wingina, VA: less expensive homes
- Yogaville, VA: equally priced homes
- Caskie, VA: less expensive homes
- Gladstone, VA: less expensive homes
- Warminster, VA: higher priced homes
Cities with Similar Populations
- Wayside, TX: less expensive homes
- Cora, MO: less expensive homes
- Coreys, NY: equally priced homes
- Corinth, VA: equally priced homes
- Corona, AL: less expensive homes
- Cotula, TN: less expensive homes
- Coupon, PA: less expensive homes
- Crystal Falls, TX: less expensive homes
- Cullison, KS: less expensive homes
- Culver, KS: less expensive homes
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