Quick facts: Norfolk, MA

Quick Facts

119.6
Cost of Living
above US average
11,988
Population
0.42
Crime Rate per 1000
below US average
$130,000
Median Income
above US average
$859,000
Median House Price
above US average
$4075.0
Average Rent
above US average
3%
Poverty Rate
below US average
3.6%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $130,000.

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Income Needed to Buy

βœ— Stretch
$269k/year
Based on $859,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $269k vs median $130,000
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Income Needed to Rent

⚠ Stretch
$175k/year
Based on $4075.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $175k vs median $130,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Norfolk, MA

Norfolk is a charming town located in Norfolk County, Massachusetts. It is known for its picturesque landscapes, community-oriented atmosphere, and well-maintained parks. With a population of about 12,000 residents, Norfolk offers a small-town feel while providing access to nearby urban amenities. The town features a mix of residential neighborhoods and open spaces, making it ideal for families and individuals seeking a quieter lifestyle. Outdoor enthusiasts can enjoy the beautiful hiking trails, recreation areas like the L.G. Nason Park, and the town’s close proximity to the Charles River. Norfolk has a strong sense of community, with various local events and activities promoting interaction among residents. The School system is well-regarded, contributing to the town’s appeal for families. While Norfolk itself is primarily residential, its convenient location near major highways facilitates easy access to nearby cities like Boston and Providence. Overall, Norfolk is a delightful place to live, combining rural charm with the conveniences of modern life, making it an ideal spot for those looking to escape the hustle and bustle of bigger cities.

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