Norwood, NC is a small town located in the heart of North Carolina. It offers many amenities to its residents at a lower cost than other cities in the state. The median 2 Bedroom Rent in Norwood is $820, which is much lower than the US average of $1,430. Similarly, the Grocery Cost Index of Norwood is 95 compared to 100 in the US. Consequently, Norwood is an affordable place for people looking to enjoy a relaxed lifestyle without breaking the bank. The town boasts several local businesses such as Tims Auto Parts & Repair and Neesees Country Store as well as numerous restaurants for dining out. The availability of recreational activities such as golfing and fishing make Norwood an ideal destination for families who want to experience outdoor fun while staying close to home.
Norwood has an unemployment rate of 4.1%. The US average is 6.0%.
Norwood has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 37.6%, which is higher than the US average of 33.5%.
Tax Rates for Norwood
- The Sales Tax Rate for Norwood is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Norwood is 5.5%. 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 $18,698 a year. The US average is $28,555 a year.
- The Median household income of a Norwood resident is $53,014 a year. The US average is $69,021 a year.