Norwood, NJ
Population 5,668 · New Jersey
About Norwood, NJ
Norwood is a small town located in New Jersey with a population of 5,668 residents according to the latest US Census Bureau American Community Survey data. The median household income is $164,766 per year, which is 119% above the national median of $75,149. The median age of 47.5 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 $676,400, which is 176% above the national median of $244,900. This places Norwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,446, 110% above the national average of $1,163/month. Of the 2,048 total housing units, 80% are owner-occupied (1,589 units) and 20% are renter-occupied (392 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Norwood shows an unemployment rate of 1.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Norwood have an average one-way commute time of 33.7 minutes.
Education & Demographics
60.0% 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, 0.2% Hispanic or Latino, 2.6% Black or African American, and 3.8% Asian residents, with 27.4% of the population being foreign-born.
How Norwood Ranks in New Jersey
Cost of Living in Norwood, NJ
Compared to national averages, Norwood has a median household income of $164,766 (119% above the national median of $75,149). Home values average $676,400, which is 176% above the national median. Monthly rent at $2,446 is 110% above the US average of $1,163. Within New Jersey, Norwood's income is 42% above the state average of $115,667, and home values are 44% above the state median of $469,644.
Why Live in Norwood, NJ?
Norwood offers a strong local economy with a median household income of $164,766, well above the national average, and a strong job market with an unemployment rate of just 1.2%, and a well-educated community where 60.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 3.3%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $676,400. However, Norwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Norwood has a population of 5,668 with a median age of 47.5 years. Compare Norwood with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Norwood
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Towaco | 5,627 | $197,696 | $690,900 | Compare |
| Union Beach | 5,722 | $128,400 | $452,900 | Compare |
| Rutgers University-Busch Campus | 5,747 | $118,750 | $0 | Compare |
| Jamesburg | 5,763 | $117,719 | $344,900 | Compare |
| Franklin Center | 5,770 | $138,643 | $565,200 | Compare |
| Morganville | 5,544 | $134,911 | $575,900 | Compare |
| Somerdale | 5,535 | $79,101 | $221,600 | Compare |
| Belmar | 5,861 | $92,859 | $771,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Norwood With Other Cities
Frequently Asked Questions about Norwood
What is the population of Norwood, NJ?
The population of Norwood, NJ is 5,668 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Norwood?
The median household income in Norwood, NJ is $164,766 per year, which is 119% above the national median of $75,149.
What is the median home value in Norwood?
The median home value in Norwood, NJ is $676,400, which is 176% 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, NJ is $2,446, which is 110% above the national average of $1,163/month.
What is the unemployment rate in Norwood?
The unemployment rate in Norwood, NJ is 1.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Norwood, NJ a good place to live?
Norwood offers above-average incomes, a competitive housing market, and a strong job market. With a population of 5,668 and a median age of 47.5, the city appeals to established professionals and retirees.
How educated is Norwood, NJ?
60.0% 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, NJ: median home value is $676,400 (176% above national), median rent is $2,446/month, and median household income is $164,766. The home-value-to-income ratio is 4.1x, a moderate figure by national standards.
What is the poverty rate in Norwood?
The poverty rate in Norwood, NJ is 3.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Norwood, NJ?
Norwood's population is 0.0% White, 0.2% Hispanic or Latino, 2.6% Black or African American, 3.8% Asian, and 1.2% two or more races. 27.4% of residents are foreign-born.