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Norwood CDP, MA

ZIP 02062 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 02062

Median Home Value
$613,500
Median Rent
$1,965
Affordability Snapshot
$169,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,941/mo PITI).

24%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.3x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

26.0 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 02062 in Norwood CDP, MA, a household would need roughly $169,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,941. That is about 74% above the local median household income ($97,110), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Diverse housing tenure.

Heating Fuel
Housing Metrics
Owner Occupied
51.8%-21% vs US avg
x
Vacancy Rate
4.7%-54% vs US avg
x
Broadband Access
94.3%+8% vs US avg
x
4+ Bedrooms
3.4%-77% vs US avg
x
Built Pre-1939
3.5%-73% vs US avg
x
Built Post-2014
0.3%-96% vs US avg
x
Rent Burden >30%
25.7%-48% vs US avg
x
Mortgage-Free
36.0%-6% vs US avg
x
$613,500
Home Value
$1,965
Rent
1961
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached44.5%
  • 1-unit attached6.6%
  • 2-9 units26.4%
  • 10+ units22.4%
  • Mobile home & other0.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$613,500
Median rent$1,965
Owner-occupied51.8%
Vacant4.7%
Price-to-income6.3x
Est. income to buy$169,000