Norwood, MI housing market
Home prices around Norwood have risen about 79% over the past 5 years.
Home values, sales, trends and how Norwood compares with the towns next door — updated as new data is published.
Home prices up 79% in 5 years
The federal house price index for the ZIP code around Norwood rose 79% over the past 5 years, faster than across Michigan (52%). Last year prices rose 4.4%.
Show as a table
| Year | Change that year | Since 2000 | Michigan since 2000 |
|---|---|---|---|
| 2025 | +4.4% | +142% | +97% |
| 2024 | +16% | +132% | +88% |
| 2023 | +6.5% | +99% | +76% |
| 2022 | +18% | +87% | +64% |
| 2021 | +17% | +58% | +45% |
| 2020 | +2.2% | +35% | +30% |
| 2019 | +7.6% | +33% | +26% |
| 2018 | +14% | +23% | +20% |
| 2017 | −0.6% | +8.3% | +12% |
| 2016 | +8.8% | +8.9% | +5.3% |
| 2015 | +2.3% | +0.1% | 0% |
| 2014 | +5.4% | −2.2% | −4.7% |
| 2013 | −0.1% | −7.2% | −12% |
| 2012 | +1.1% | −7.1% | −16% |
| 2011 | −6.8% | −8.1% | −16% |
| 2010 | −8.3% | −1.4% | −12% |
| 2009 | −5% | +7.6% | −5% |
| 2008 | −6% | +13% | +3.5% |
| 2007 | −1.3% | +20% | +11% |
| 2006 | +0.8% | +22% | +16% |
| 2005 | +5.1% | +21% | +18% |
| 2004 | +6.7% | +15% | +14% |
| 2003 | +1.9% | +8% | +10% |
| 2002 | +4.5% | +6% | +8.3% |
| 2001 | +1.5% | +1.5% | +5% |
| 2000 | — | — | — |
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP code 49720, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Norwood and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Norwood | — | +4.4%† | $1,060 | $84,375 |
| Marion | — | +4.4%† | $1,060 | $99,417 |
| Banks | — | +25.8%† | $1,240 | $71,326 |
| Charlevoix | $448K | +4.4% | $1,060 | $80,781 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,060
HUD's Fair Market Rent for a two-bedroom in Norwood is $1,060 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Norwood pay a median of $1,078.
Studio $750 · 4 bedrooms $1,650
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (49720; Antrim County, MI), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.