Norwood, NC Profile: Facts & Data

Norwood, North Carolina - Basic Facts

The Town of Norwood had a population of 2,354 as of July 1, 2024.

The primary coordinate point for Norwood is located at latitude 35.2196 and longitude -80.1189 in Stanly County. The formal boundaries for the Town of Norwood encompass a land area of 4.47 sq. miles and a water area of 0.14 sq. miles. Stanly County is in the Eastern time zone (GMT -5).

The Town of Norwood has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Norwood is located within Township of Center, a minor civil division (MCD) of Stanly County.

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Norwood, NC Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	2,354 (100%)
Population in Households	2,333 (99.1%)
Population in Families	1,884 (80.0%)
Population in Group Quarters¹	21 ( 0.9%)
Population Density	508
Diversity Index²	45


INCOME
Median Household Income	$59,757
Average Household Income	$90,420
% of Income for Mortgage⁴	20%
Per Capita Income	$38,006
Wealth Index⁵	92
Socioeconomic Status Index⁶	Moderate (45.7)

HOUSING
Total HU (Housing Units)	1,324 (100%)
Owner Occupied HU	713 (53.9%)
Renter Occupied HU	276 (20.8%)
Vacant Housing Units	335 (25.3%)
Median Home Value	$186,538
Average Home Value	$275,421
Housing Affordability Index³	130

HOUSEHOLDS
Total Households	989
Average Household Size	2.36
Family Households	604
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

1,324 (100%)

Owner Occupied HU

713 (53.9%)

Renter Occupied HU

276 (20.8%)

Vacant Housing Units

335 (25.3%)

Median Home Value

$186,538

Average Home Value

$275,421

Housing Affordability Index³

130

HOUSEHOLDS

Total Households

989

Average Household Size

2.36

Family Households

604

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	2020-2024	2024-2029
Population	-0.13%	-0.13%
Households	0.29%	-0.02%
Families		0.72%
Median Household Income		4.99%
Per Capita Income		3.07%
Owner Occupied HU		1.02%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.13%

Households

0.29%

-0.02%

Families

0.72%

Median Household Income

4.99%

Per Capita Income

3.07%

Owner Occupied HU

1.02%

Norwood, NC - Peer Comparisons by Rank and Percentile

The table below compares Norwood to the other 777 incorporated cities, towns and CDPs in North Carolina by rank and percentile using July 1, 2024 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	# 302	61st
Population Density	# 452	42nd
Median Household Income	# 356	54th
Housing Affordability Index	# 614	79th
Per Capita Income	# 248	68th
Diversity Index	# 487	37th

Variable Description

Rank

Percentile

Total Population

# 302

61st

Population Density

# 452

42nd

Median Household Income

# 356

54th

Housing Affordability Index

# 614

79th

Per Capita Income

# 248

68th

Diversity Index

# 487

37th

North Carolina Census Data Comparison Tool

Norwood, NC Profile: Facts & Data

Norwood, North Carolina - Basic Facts

Norwood, NC Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Norwood, NC - Peer Comparisons by Rank and Percentile

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