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Real Estate Prices & Overview

Norwood median real estate price is $261,205, which is more expensive than 42.8% of the neighborhoods in Tennessee and 35.1% of the neighborhoods in the U.S.

The average rental price in Norwood is currently $1,724, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 48.0% of Tennessee neighborhoods.

Norwood is a rural neighborhood (based on population density) located in Oliver Springs, Tennessee.

Norwood real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Norwood neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.

In Norwood, the current vacancy rate is 1.8%, which is a lower rate of vacancies than 87.5% of all neighborhoods in the U.S. This means that the housing supply in Norwood is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Modes of Transportation

While most Americans do drive to work alone each day, the Norwood neighborhood stands out by having 95.3% of commuters doing so, which is a higher proportion of people driving alone to work than NeighborhoodScout found in 99.5% of all American neighborhoods.

People

With a nice mix of college students, safety from crime, and decent walkability, the Norwood neighborhood rates highly as a college student friendly place to live, and one that college students and their parents may want to consider. NeighborhoodScout's analysis shows that it rates more highly for a good place for college students to live than 89.6% of the neighborhoods in TN. This often also means that the area has certain amenities and services geared towards college students, from undergraduates to graduate students.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Norwood neighborhood in Oliver Springs are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.5% of U.S. neighborhoods. With 24.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 74.3% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Norwood neighborhood, 39.6% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 34.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.9%), and 12.0% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Norwood neighborhood is English, spoken by 100.0% of households. Some people also speak Italian (2.1%).

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Norwood neighborhood in Oliver Springs, TN, residents most commonly identify their ethnicity or ancestry as Irish (9.1%). There are also a number of people of English ancestry (8.8%), and residents who report German roots (7.9%), and some of the residents are also of Scots-Irish ancestry (1.8%), along with some French ancestry residents (1.3%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Norwood neighborhood spend between 15 and 30 minutes commuting one-way to work (43.1% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (95.3%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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