Cost of Living in Norwood, MI
Population: 123 | Michigan
Norwood is 5% less expensive than the national average.
Cost of Living in Norwood, MI: What You Need to Know
With a cost of living index of 95, Norwood, MI is slightly more affordable than average. Living here is 5% cheaper than the national average and 17% above the Michigan state average of 78. Norwood is a small community of 123 residents.
The median household income in Norwood is $72,500, which is 4% lower than the national median of $75,149.
Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.
Income
- Median Household Income
- $72,500
- vs US Median ($75,149)
- -4%
Housing
- Median Home Value
- $266,100
- Median Monthly Housing Cost
- $1,011/mo