Cost of living in Norwood research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Norwood is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Norwood is 143, with 100 being the average.
The cost of living index in Norwood is 1.4x higher than the national average.
Norwood ranks as the #78 cheapest in Massachusetts out of 113.
Norwood ranks as the #5,677 cheapest out of 6,412 in the US.
The median home value in Norwood is $482,200.
The median income in Norwood is $96,414.
According to the most recent data on the cost of living, Norwood has an overall cost of living index of 143, which is 1.4x higher than the national index of 100.
Compared to Massachusetts, Norwood has a cost of living index that's 1.0x lower than Massachusetts's index of 143.
The standard of living in Norwood ranks as #78 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Norwood ranks as the #35 most expensive place in the Bay State.
For more reading on life in Norwood, check out:
Six factors go into calculating the cost of living index in Norwood. Here is how it fairs on each of the criteria:
The Services index in Norwood is 129.
The Groceries index in Norwood is 109.
The Health index in Norwood is 120.
The Housing index in Norwood is 191.
The Transportation index in Norwood is 115.
The Utilities index in Norwood is 122.
|Living Expense||Norwood||Massachusetts||National Average|
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Norwood is $482,200.
The Median Rent in Norwood is $1,730.
The Median Income in Norwood is $96,414.
The Home Value To Income in Norwood is 5.0x.
The Rent To Monthly Income in Norwood is 0.22x.
|Median Home Value||$482,200||$424,700||$244,900|
|Home Value To Income||5.0x||4.8x||3.5x|
|Rent To Monthly Income||0.22x||0.19x||0.2x|
The cost of living varies in the cities and towns around Norwood. Here's a quick look at the cost of living in the most populous nearby places:
Newton, MA has a cost of living index of 192, 1.3x Norwood.
Brookline, MA has a cost of living index of 191, 1.3x Norwood.
Arlington, MA has a cost of living index of 162, 1.1x Norwood.
|City||Population||Cost Of Living||Vs. Norwood|