Norwood, IL
Population 501 · Illinois
About Norwood, IL
Norwood is a small community in Illinois with a population of 501 residents. The median household income is $68,750 per year, which is near the national average. The median age in Norwood is 37.5 years.
Housing in Norwood has a median home value of $93,500 and median monthly rent of $1,000. Of the 217 total housing units, the majority are owner-occupied, with 177 owner-occupied and 24 renter-occupied units.
The unemployment rate in Norwood is 2.3% and the poverty rate is 12.7%. 6.5% of residents hold a bachelor's degree or higher. The average commute time is 28.8 minutes.
Cost of Living in Norwood, IL
Compared to national averages, Norwood has a median household income of $68,750 (9% below the national median of $75,149). Home values average $93,500, which is 62% below the national median. Monthly rent at $1,000 is 14% below the US average of $1,163. Within Illinois, Norwood's income is 8% below the state average of $75,072, and home values are 44% below the state median of $165,779.
Why Live in Norwood, IL?
Norwood offers affordable housing with a median home value of $93,500, below the US average of $244,900, and rent that’s lower than the national average at $1,000/month, and a strong job market with an unemployment rate of just 2.3%.
Potential considerations include median household income ($68,750) that falls below the national average. However, Norwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Norwood has a population of 501 with a median age of 37.5 years. Compare Norwood with other cities to see how it stacks up, or explore all cities in Illinois.
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Norwood
What is the population of Norwood, IL?
The population of Norwood, IL is 501 according to the latest Census data.
What is the median household income in Norwood?
The median household income in Norwood, IL is $68,750 per year.
What is the median home value in Norwood?
The median home value in Norwood, IL is $93,500.
What is the average rent in Norwood?
The median monthly rent in Norwood, IL is $1,000.
What is the unemployment rate in Norwood?
The unemployment rate in Norwood, IL is 2.3%.