Much like nearby areas, it is a bit less expensive compared to the entire nation. However compared to the city of New York, it is significantly less expensive.
Home prices
The median home in Norwood costs $167,900. It is about $6,100 (3%) lower in comparison to other places in this area.It is about $49,600 (22%) lower compared to the US as a whole, and in comparison to the city of New York is approximately $438,100 (72%) lower.
Rents
The median monthly rent in Norwood is $982. This is approximately $138 (12%) lower compared to the surrounding areas.Compared to the rest of the nation it is approximately $80 (7%) lower, and it is approximately $461 (31%) lower in comparison to the city of New York.
Nearby places
Prospect Park
Prospect Park is Norwood's neighbor to the west. The housing prices there are a bit more expensive. The median home value in Prospect Park is $191,700, which works out to $23,800 (12%) higher than Norwood. The rent there is somewhat more expensive. In Prospect Park the median monthly rent is $1,043, which works out to $61 (5%) higher than Norwood.
Folcroft
Folcroft is Norwood's neighbor to the east. Housing prices there are significantly less expensive. The cost of the median home in Folcroft is $114,100, which comes out to $53,800 (47%) lower than Norwood. Rents there are a bit more expensive. The median monthly rent in Folcroft is $1,228, which works out to $246 (20%) higher than Norwood.
Glenolden
Glenolden is Norwood's neighbor to the north. Its real estate prices are somewhat less expensive. Glenolden's median home price is $159,100, which comes out to $8,800 (5%) lower than Norwood. Its rents are pretty similar. The median rent in Glenolden is $1,022 a month, which comes out to $40 (3%) higher than Norwood.
Ridley Park
Ridley Park is approximately 1 mile west from Norwood. Its housing prices are somewhat more expensive. The value of the median home in Ridley Park is $202,000, which is $34,100 (16%) higher than Norwood. Its rents are similar. In Ridley Park the median rent is $988 per month, which is very similar to Norwood.
Folsom
Folsom is approximately 1 mile west from Norwood. Its real estate prices are somewhat more expensive. The median home price in Folsom is $203,100, which is $35,200 (17%) higher than Norwood. Rent there is a little more expensive. Folsom's median rent is $1,317 per month, which comes out to $335 (25%) higher than Norwood.
