Norwood, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Norwood Neighborhoods Since 2000




Norwood, PA 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 5,898 people, 2,072 houses or apartments, and a median cost of homes of $172,382, Norwood real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Norwood, accounting for 45.22% of the borough's housing units. Other types of housing that are prevalent in Norwood include row houses and other attached homes ( 31.58%), large apartment complexes or high rise apartments ( 11.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.14%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norwood. Owner-occupied housing accounts for 77.35% of Norwood's homes, and 66.54% have either three or four bedrooms, which is average sized relative to America.

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 51.62% of the borough's housing hails from this era. Other housing ages represented in Norwood include homes built before 1939 ( 35.26%) and housing constructed between 1970-1999 ( 11.89%). There's also some housing in Norwood built between 2000 and later ( 1.23%).

Norwood Home Appreciation Rates

Homes have actually lost value in Norwood over the last then years, as home values have seen a decline of 24.48% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Norwood home appreciation rates at 0.08%, which equates to an annual appreciation rate of 0.32%.

Over the last year, Norwood appreciation rates have trailed the rest of the nation. In the last twelve months, Norwood's appreciation rate has been 3.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Norwood were at 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to Pennsylvania, our data show that Norwood's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$172,382

Norwood, PA HOME PRICES

Value Range
> $986,000 0.0
$740,001 - $986,000 0.0
$493,001 - $740,000 0.0
$394,001 - $493,000 0.0
$296,001 - $394,000 3.8
$197,001 - $296,000 21.8
$98,001 - $197,000 66.0
$49,001 - $98,000 5.1
$0 - $49,000 3.4

High for PA
Average for Nation

Value Relative to Nation Value Relative to State
40.7711238720263 31.304347826087

Number Of Homes And Apartments:
2,072

Norwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
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
16.96% 0.91% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,112 / per month

Homeownership Rate

Homeownership
Owners 77.35
Renters 22.65
Vacant 9.12

Housing Market Details

 

Age of Homes

AGE OF Norwood HOMES
2000 or Newer 1.2
1970 - 1999 11.9
1940 - 1969 51.6
1939 or Older 35.3

Types of Homes

TYPE OF Norwood HOMES
Single-Family 45.2
Townhomes 31.6
Small Apt. Buildings 11.1
Apt. Complexes 11.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Norwood HOMES
No Bedroom 0.39
1 Bedroom 12.37
2 Bedrooms 15.92
3 Bedrooms 41.97
4 Bedrooms 24.56
5 or more bedrooms 4.78