Norwood, NJ Profile: Facts & Data

Norwood, New Jersey - Basic Facts

The Borough of Norwood had a population of 5,892 as of July 1, 2023.

The primary coordinate point for Norwood is located at latitude 40.9982 and longitude -73.9618 in Bergen County. The formal boundaries for the Borough of Norwood encompass a land area of 2.73 sq. miles and a water area of 0.01 sq. miles. Bergen County is in the Eastern time zone (GMT -5).

The Borough of Norwood has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

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Norwood, NJ Data & Demographics (As of July 1, 2023)

POPULATION
Total Population	5,892 (100%)
Population in Households	5,731 (97.3%)
Population in Families	5,206 (88.4%)
Population in Group Quarters¹	161 ( 2.7%)
Population Density	2,116
Diversity Index²	63


INCOME
Median Household Income	$145,077
Average Household Income	$188,778
% of Income for Mortgage⁴	29%
Per Capita Income	$65,234
Wealth Index⁵	238
Socioeconomic Status Index⁶	High (67.4)

HOUSING
Total HU (Housing Units)	2,114 (100%)
Owner Occupied HU	1,696 (80.2%)
Renter Occupied HU	338 (16.0%)
Vacant Housing Units	80 ( 3.8%)
Median Home Value	$687,792
Average Home Value	$762,412
Housing Affordability Index³	77

HOUSEHOLDS
Total Households	2,034
Average Household Size	2.82
Family Households	1,606
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

2,114 (100%)

Owner Occupied HU

1,696 (80.2%)

Renter Occupied HU

338 (16.0%)

Vacant Housing Units

80 ( 3.8%)

Median Home Value

$687,792

Average Home Value

$762,412

Housing Affordability Index³

HOUSEHOLDS

Total Households

2,034

Average Household Size

2.82

Family Households

1,606

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2023	2023-2028
Population	1.35%	0.70%
Households	1.42%	0.85%
Families		0.87%
Median Household Income		2.55%
Per Capita Income		2.86%
Owner Occupied HU		1.22%

GROWTH RATE / YEAR

2020-2023

2023-2028

Population

1.35%

0.70%

Households

1.42%

0.85%

Families

0.87%

Median Household Income

2.55%

Per Capita Income

2.86%

Owner Occupied HU

1.22%

Norwood, NJ - Peer Comparisons by Rank and Percentile

The table below compares Norwood to the other 700 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 263	63rd
Population Density	# 357	49th
Median Household Income	# 123	83rd
Housing Affordability Index	# 264	38th
Per Capita Income	# 204	71st
Diversity Index	# 245	65th

Variable Description

Rank

Percentile

Total Population

# 263

63rd

Population Density

# 357

49th

Median Household Income

# 123

83rd

Housing Affordability Index

# 264

38th

Per Capita Income

# 204

71st

Diversity Index

# 245

65th

New Jersey Census Data Comparison Tool

Norwood, NJ Profile: Facts & Data

Norwood, New Jersey - Basic Facts

Norwood, NJ Data & Demographics (As of July 1, 2023)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Norwood, NJ - Peer Comparisons by Rank and Percentile

Norwood, NJ - Most Popular Things to Do

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