1031 Exchange Norwood, Massachusetts


Rent, population, and median household income are important factors to consider for a 1031 exchange in Norwood due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Norwood, Massachusetts is a part of the South Shore/Route 128 South Submarket submarket area, and contains zip code 2062.

Norwood Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Norwood, MA submarket area was $2,103, which is 22.41% higher than 2014 average rent. This represents a compounded annual growth rate of 4.13%. 2019 vacancy in Norwood, MA was 5.50%.

The total population of the city of Norwood, MA has grown 2.53% since 2010. As of 2018, the population was 29,327. The median household income of the Norwood was $90,511, which is 50.12% higher than the national average.

  • submarket area South Shore / Route 128 South Submarket
  • avg rent $2,103
  • rent growth 22.41%
  • vacancy 5.50%
  • median income $90,511
  • population (2018) 29,327
  • population growth 2.53%
  • vs. nat'l avg 50.12%
  • zip code 2062

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