Norwood, MA is a town located in Norfolk County. It is a great place to live with its affordable rent, which is about $2,720 for two bedrooms compared to the US average of $1,430. In addition to cost of living being relatively low, Norwood has a grocery cost index of 109 compared to 100 for the US average. There are many local companies operating in different industries throughout Norwood. For example, Stop & Shop Supermarket is an established grocery store that serves customers from all over the area. Another important business based in Norwood is Precision Automation Company Inc., which manufactures automated equipment and systems for industrial applications. Lastly, Landmark Medical Solutions provides medical supplies and equipment to healthcare facilities throughout the region.
Norwood has an unemployment rate of 5.8%. The US average is 6.0%.
Norwood has seen the job market increase by 4.3% over the last year. Future job growth over the next ten years is predicted to be 40.8%, which is higher than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Norwood is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Norwood
- The average income of a Norwood resident is $54,645 a year. The US average is $37,638 a year.
- The Median household income of a Norwood resident is $96,414 a year. The US average is $69,021 a year.