Norwood, MA


Highest Appreciating Norwood Neighborhoods Since 2000

Norwood, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Norwood Housing Market Information

With 29,095 people, 11,670 houses or apartments, and a median cost of homes of $462,741, real estate costs in Norwood are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Norwood, accounting for 46.70% of the town's housing units. Other types of housing that are prevalent in Norwood include large apartment complexes or high rise apartments ( 27.39%), duplexes, homes converted to apartments or other small apartment buildings ( 20.65%), and a few row houses and other attached homes ( 5.10%).

People in Norwood primarily live in small (one, two or no bedroom) single-family detached homes. Norwood has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Norwood's housing was primarily built during this period, from the '40s through the '60s. A full 44.03% of the town's housing hails from this era. Other housing ages represented in Norwood include homes built between 1970-1999 ( 25.68%) and housing constructed before 1939 ( 24.31%). There's also some housing in Norwood built between 2000 and later ( 5.98%).

Norwood Home Appreciation Rates

Appreciation rates for homes in Norwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.96%, which ranks in the top 40% nationwide. This equates to an annual average Norwood house appreciation rate of 0.77%.

Appreciation rates are so strong in Norwood that despite a nationwide downturn in the housing market, Norwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Norwood appreciation rates continue to be some of the highest in America, at 5.85%, which is higher than appreciation rates in 72.84% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Norwood. Norwood appreciation rates in the latest quarter were at 1.07%, which equates to an annual appreciation rate of 4.36%.

Relative to Massachusetts, our data show that Norwood's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Norwood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Norwood - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Norwood real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,185,000 0.4
$889,001 - $1,185,000 1.1
$593,001 - $889,000 11.5
$474,001 - $593,000 31.2
$356,001 - $474,000 36.6
$237,001 - $356,000 13.5
$119,001 - $237,000 3.0
$59,001 - $119,000 0.2
$0 - $59,000 2.5

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
6.98464783780616 28.525641025641

Number Of Homes And Apartments:

Norwood Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
60.25% 2.77% 8 7
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,812 / per month

Homeownership Rate

Owners 56.31
Renters 43.69
Vacant 3.31

Housing Market Details


Age of Homes

2000 or Newer 6.0
1970 - 1999 25.7
1940 - 1969 44.0
1939 or Older 24.3

Types of Homes

Single-Family 46.7
Townhomes 5.1
Small Apt. Buildings 20.6
Apt. Complexes 27.4
Mobile Homes 0.2
Other 0.0

Home Size

No Bedroom 3.31
1 Bedroom 16.77
2 Bedrooms 28.41
3 Bedrooms 34.25
4 Bedrooms 14.09
5 or more bedrooms 3.16