Norwood, MI
Population 123 · Michigan
About Norwood, MI
Norwood is a small community located in Michigan with a population of 123 residents according to the latest US Census Bureau American Community Survey data. The median household income is $72,500 per year, which is 4% below the national median of $75,149. The median age of 51.6 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Norwood features a median home value of $266,100, which is 9% above the national median of $244,900. This positions Norwood in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 113 total housing units, 94% are owner-occupied (51 units) and 6% are renter-occupied (3 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Norwood shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 15.4%, above the national average of 12.4%. Workers in Norwood have an average one-way commute time of 26.5 minutes.
Education & Demographics
46.3% of Norwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 8.1% Asian residents, with 15.4% of the population being foreign-born.
Cost of Living in Norwood, MI
Compared to national averages, Norwood has a median household income of $72,500 (4% below the national median of $75,149). Home values average $266,100, which is 9% above the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Michigan, Norwood's income is 10% above the state average of $66,017, and home values are 45% above the state median of $183,391.
Why Live in Norwood, MI?
Norwood offers rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 46.3% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($72,500) 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 123 with a median age of 51.6 years. Compare Norwood with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Norwood
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Arcadia | 123 | $83,333 | $256,800 | Compare |
| Chatham | 123 | $47,813 | $154,200 | Compare |
| Crystal Mountain | 120 | $0 | $487,500 | Compare |
| Eagle Harbor | 130 | $106,625 | $267,900 | Compare |
| Greenland | 116 | $43,958 | $55,000 | Compare |
| Nessen City | 115 | $59,375 | $122,500 | Compare |
| Covington | 113 | $68,750 | $0 | Compare |
| Lake Gogebic | 113 | $36,711 | $0 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
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, MI?
The population of Norwood, MI is 123 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in Norwood?
The median household income in Norwood, MI is $72,500 per year, which is 4% below the national median of $75,149.
What is the median home value in Norwood?
The median home value in Norwood, MI is $266,100, which is 9% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Norwood?
The median monthly rent in Norwood, MI is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Norwood?
The unemployment rate in Norwood, MI is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Norwood, MI a good place to live?
Norwood offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 123 and a median age of 51.6, the city appeals to established professionals and retirees.
How educated is Norwood, MI?
46.3% of residents in Norwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Norwood?
Key cost-of-living indicators for Norwood, MI: median home value is $266,100 (9% above national), median rent is $0/month, and median household income is $72,500. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Norwood?
The poverty rate in Norwood, MI is 15.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Norwood, MI?
Norwood's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 8.1% Asian, and 1.6% two or more races. 15.4% of residents are foreign-born.