Norwood, Massachusetts Income Statistics
Norwood Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
A
Norwood Above average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Norwood | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Household Income | $106,206 | $104,336 | $80,455 |
| Median Personal Income | $81,652 | $80,230 | $60,758 |
| Average Yearly Income Growth | 3.0% | 4.9% | 4.8% |
| Six-Figure Earners | 23.4% | 20.6% | 13.9% |
| $200k+ Households | 23.5% | 22.3% | 13.2% |
The median household income in Norwood is about 2% higher than in Massachusetts. Income has been growing slower in Norwood (3.0%/yr) than in Massachusetts (4.9%/yr).
About 23% of adults in Norwood earn six figures ($100,000 or more) a year, higher than the Massachusetts average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Norwood, Massachusetts grew by 52.2% from 2009 to 2024, reaching $106,206 in 2024. That's an average of about 3.0% per year.
Income Inequality and the Gender Pay Gap in Norwood
| Metric | Norwood | Massachusetts Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.498 | 0.531 | 0.552 |
| Male Median Income | $92,353 | $90,842 | $69,667 |
| Female Median Income | $85,125 | $75,629 | $56,850 |
| Gender Pay Gap | 7.8% | 16.7% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Norwood, it is 0.498, lower than Massachusetts's 0.531, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 8% more than women's income in Norwood, Massachusetts. Over a 35-year career, a 8% wage gap accumulates to roughly $252,980 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Norwood, Massachusetts has narrowed from about 9% to 8% in 2024. Over that period the gap was widest at 24% in 2015, and was narrowest at 5% in 2023. In dollar terms, the gap has widened by $2,317 since 2009.
Employment
| Metric | Norwood | Massachusetts Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 5.1% | 5.2% |
| Working from Home | 16.1% | 18.6% | 15.0% |
| Commute time (minutes) | 30 | 25 | 22 |
Approximately 659 people are unemployed in Norwood, Massachusetts.
The average commute time in Norwood is 30 minutes, longer than the 25 minutes in Massachusetts.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Norwood, Massachusetts has fallen from 5.9% to 3.6% in 2024. Over that period the rate peaked at 6.3% in 2014 and fell as low as 2.9% in 2020.
Norwood, MA Wealth Compared With Nearby Cities
How Norwood, MA compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Norwood, MA | 31,539 | $106,206 #3/3 | 3.0%/yr #3/3 | 3.6% #2/3 | 0.498 #3/3 |
| Dedham, MA | 25,193 | $131,420 | 5.3%/yr | 3.1% | 0.486 |
| Needham, MA | 32,445 | $202,463 | 4.6%/yr | 4.4% | 0.488 |
Conclusion
Considering all these factors, Norwood, Massachusetts has an overall wealth index grade of A, making it somewhat better than Massachusetts, and notably better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Norwood, Massachusetts.
How Rich Is Norwood, Massachusetts?
Norwood has a wealth index grade of A. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; an A grade means residents are much better off than the U.S. average. The median household income is $106,206, about 2% higher than the Massachusetts average of $104,336.
Are incomes growing in Norwood, Massachusetts?
Between 2009 and 2024, the median household income in Norwood, Massachusetts rose 52%, from $69,758 to $106,206. Over the same years, income here lagged behind Massachusetts as a whole: +52% against +61%.
What was the median household income in Norwood in 2023?
In 2023, the median household income in Norwood, Massachusetts was $98,052, about the same as in 2022. The Massachusetts median that year was $101,513.
What was the median household income in Norwood in 2020?
In 2020, the median household income in Norwood, Massachusetts was $90,418. By 2024 it had risen 17% to $106,206.
Is unemployment high in Norwood, Massachusetts?
Unemployment in Norwood, Massachusetts is only 3.6%, well below the Massachusetts rate of 5.1%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Norwood, Massachusetts?
The Gini coefficient in Norwood is 0.498. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Norwood, Massachusetts?
Since 2009, the income gap between men and women in Norwood, Massachusetts has narrowed from about 9% to 8% in 2024. Over that period the gap was widest at 24% in 2015, and was narrowest at 5% in 2023. In dollar terms, the gap has widened by $2,317 since 2009.
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