Quick facts: Norwood, PA

Quick Facts

101.5
Cost of Living
above US average
5,880
Population
19.56
Crime Rate per 1000
below US average
$83,104
Median Income
above US average
$315,000
Median House Price
above US average
$2133.33
Average Rent
above US average
9%
Poverty Rate
below US average
3.2%
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 $83,104.

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Income Needed to Buy

βœ— Stretch
$99k/year
Based on $315,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $99k vs median $83,104
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Income Needed to Rent

⚠ Stretch
$91k/year
Based on $2133.33/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $91k vs median $83,104
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Norwood, PA

Norwood is a small borough located in Delaware County, Pennsylvania. Nestled just southwest of the city of Philadelphia, it offers a suburban charm with easy access to the urban amenities of a major metropolitan area. The borough, covering approximately 1.1 square miles, is primarily residential, featuring cozy homes and a close-knit community environment. Norwood is characterized by its tree-lined streets, parks, and local shops. Its strategic location allows residents to enjoy the quiet of suburban life while being only a short commute from Philadelphia's vibrant cultural and economic opportunities. The borough is served by the Norwood School District, which provides quality educational resources for families. The nearby Delaware River offers recreational activities, while the borough also hosts annual community events that foster a sense of belonging among residents. Overall, Norwood is an inviting place that balances the tranquility of small-town living with proximity to the bustling life of Philadelphia.

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