Market Overview
Home Prices in Norwood, NC
The median home value in Norwood, NC is $293,950 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.5% compared to a year ago and up 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Norwood are priced28% below average. Norwood is part of the Albemarle, NC metro area.
Over the past five years, Norwood home values have risen by approximately30.6%, reflecting strong long-term appreciation in this market.
Price History
Norwood Home Price Trend
City Comparison
Norwood vs. National Median
At $293,950, homes in Norwood cost 28% below the national median of $410,000. This makes Norwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Norwood?
20% Down Payment
$58,790
on $293,950
Monthly P&I
$1,533/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,947/mo
incl. taxes & insurance
Income Needed
$77,880
gross annual (30% rule)
10% Down Option
$29,395
+ PMI applies
Loan Amount (20% dn)
$235,160
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Norwood, NC?
The median home value in Norwood is $293,950 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.5% year-over-year.
How much have home prices changed in Norwood?
Over the past year, home values in Norwood have increased by 3.5%. Over five years, prices have risen approximately 30.6%.
How much do I need to earn to buy a home in Norwood?
To comfortably afford the median home price of $293,950 with a 20% down payment ($58,790) at today's rates (6.8%), you'd need a gross annual income of approximately $77,880. This assumes keeping total housing costs at or below 30% of gross income.
How does Norwood compare to the national average home price?
The national median home value is approximately $410,000. At $293,950, homes in Norwood are 28% below the national average.
What metro area is Norwood part of?
Norwood is part of the Albemarle, NC metropolitan area. Home prices and market conditions can vary across the broader metro region.