Housing costs in Norwood?
A typical home costs
$702,600, which is 107.8% more expensive than the national average of
$338,100 and 62.6% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in Norwood costs
$2,320 per month, which is 62.2% more than the national average of
$1,430 and 26.3% more than the state average of
$1,710.
Can I afford Norwood?
To live comfortably in Norwood, New Jersey, a minimum annual income of
$134,640 for a family, and
$80,000 for a single person is recommended.
What does A.I. say about Norwood?
The cost of living in Norwood, NJ is relatively high compared to the national average. Housing prices are well above the national median and the combined sales tax rate is 6.625%. Groceries, utilities, and transportation costs are all moderately priced when compared to other areas of New Jersey. The overall cost of living in Norwood is considerably higher than many surrounding communities but this can be offset by its close proximity to New York City, which offers an abundance of employment opportunities.