Rent to own Homes in Norwood, MA
Norwood is part of the greater Boston area and is located on the Neponset River. This Norfolk County town is about 10.5 square miles in size and has a population of about 29,000 people. Those who wish to visit Boston for work or to enjoy the city's many amenities can drive there in about 40 minutes and public transportation options are also available. The town's economy is doing well with healthy median household incomes and a lower rate of unemployment than the state's average.
Norwood, MA is a great place for affordable rent-to-own homes! With a median household income of over $90,341 and a median rent of $1,655, the Norwood, MA rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Norwood, MA. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Norwood, MA Property Resources
Rent to own Homes in Cities Near Norwood, MA
- Abington
- Andover
- Arlington
- Avon
- Bedford
- Belmont
- Beverly
- Boxford
- Braintree Town
- Bridgewater
- Brockton
- Burlington
- Carlisle
- Chelsea
- East Bridgewater
- East Weymouth
- Everett
- Halifax
- Hanson
- Hingham
- Holbrook
- Hull
- Lincoln
- Lynn
- Lynnfield
- Malden
- Marblehead
- Marshfield Hills
- Medford
- Melrose
- Middleton
- Nahant
- North Pembroke
- North Reading
- North Scituate
- Peabody
- Reading
- Revere
- Saugus
- Somerville
- Southfield
- Stoneham
- Swampscott
- Tewksbury
- Topsfield
- Wakefield
- West Concord
- Wilmington
- Winchester
- Woburn
Neighborhoods in Norwood, MA
Midtown Business District rent to own homes Norwood Centre rent to own homes Norwood rent to own homes South Norwood Business District rent to own homes South Norwood rent to own homesPopular Zip Codes in Norwood, MA
02062 rent to own homesBuying a Home in Norwood, MA
Norwood, MA is seeing rapid growth and Norwood, MA's' housing market remains not optimal with an average home price that is 109% above the 2024 national average. Norwood, MA is part of Norfolk county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Norfolk is 1.02% which is above the national average, which is 0.99%.
Median Home Price in Norwood, MA
Median Rent in Norwood, MA
Top 5 Reasons to Live in Norwood, MA
Live in a historic area! Norwood was officially established in 1872 while previously it had been part of Dedham. During the Revolutionary War, a Minuteman company headed by Aaron Guild was based in the area and many years later Abraham Lincoln visited the town on a pre-inaugural tour. Local historic sites include the Oak View Mansion, which was built by Francis Olney Winslow in 1870 and has been visited by many U.S. presidents, including William Howard Taft and Calvin Coolidge. Norwood's historical society, housed on Day Street, organizes many community events including a holiday tour of historical local homes and public buildings.
Good transportation links! MBTA buses and the MBTA Commuter Rail provides easy transportation to Boston; locals can catch Franklin line trains at Norwood Central station. Drivers have good connections too, as U.S. 1 runs through town and Interstate 95 is a short drive to the east. The nearest airport is Norwood Memorial, but many people use Logan International because of its wider range of flights.
Great food available locally! Popular Norwood eateries include Vico Ristorante Italiano, Moroccan restaurant Cafe Paprika and Asian restaurant Thai Thani. For those who love to cook, Norwood has a Farmers Market on Tuesdays that runs from June to October on The Common at Washington Street and Nahatan Street. The Farmers Market also has a website that includes tips on seasonal cooking and healthy eating.
Wide variety of housing options! Developments like Rose Court have a variety of condos; town houses, detached homes and apartments are available in Norwood neighborhoods like Town Center and Winslows. Rent to own houses can be found throughout the town as well as houses available for outright purchase.
Home values are rising! According to 2011 census data, the mean price of detached houses in Norwood was about $416,000, $304,000 for attached units and $226,000 for apartments. Prices have risen by 11 percent since then. The Providence Highway/ East Cross Street area has seen the biggest rise in property prices. Price rises have been much more modest in the Village Road West/ Engamore Lane neighborhood. Check out housing listings to invest now!