Norwood, Ohio Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Norwood, Ohio rental market.
Norwood, Ohio
Average Apartment Rent
$1,914
Y-o-Y Change in Average
Apartment Rent
4.5%
As of March 2026
Compared to a year ago, Norwood, Ohio apartments have recorded a 4.5% rent increase.
Norwood, Ohio Average apartment rent trend
Norwood, Ohio Average Apartment Rent
Norwood, Ohio Apartment rent ranges
At 32.52%, apartments priced $1,500 - $2,000 represent the bulk of Norwood, Ohio rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 7.34%.
Norwood, Ohio Housing tenure**
Renters take up 54% of Norwood, Ohio real estate, occupying a total of 4,631 units, while homeowners live in 4,007 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$38,110
Average household size of renter-occupied housing units**
1.94
Rental vacancy rate**
2.2%
Norwood, Ohio Renter-occupied housing units by no. of bedrooms**
There are 2,255 rentals in Norwood, Ohio with 1 bed making up the highest share of the market, at 49%. Units with 5 or more beds, on the other hand, hold the lowest percentage (3%), amounting to 140 units. Overall, the median number of rooms in Norwood, Ohio homes for rent is 3.8.
Norwood, Ohio Renter-occupied units by age of householder**
Most condos for rent in Norwood, Ohio are occupied by residents in the 25 - 34 years age group (31%), followed by those in the 15 - 24 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Norwood, Ohio Renter-occupied housing units by family type**
Norwood, Ohio Renter-occupied housing units by the presence of own children**
A total of 1,241 apartments for rent in Norwood, Ohio, or 27% of all rentals are family households. Additionally, 15% of rental homes include children under the age of 18 – that’s 701 units. All in all, the median size of a renter-occupied household in Norwood, Ohio is 1.94.
Norwood, Ohio Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Norwood, Ohio.
Norwood, Ohio Renter-occupied units by year structure built**
The highest share of Norwood, Ohio apartment rentals, namely 48% or 2,234 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (12%, 555 units), and the ones Built 1960 - 1969 (10%, 456 units).
Norwood, Ohio Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Norwood, Ohio renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Norwood, Ohio condos for rent is 2018.
Norwood, Ohio Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Norwood, Ohio renters have 1 vehicle available per household, 19% of them have 2 vehicles available, and 16% have No vehicle available.
Norwood, Ohio Means of transportation to work of householders living in renter-occupied housing units**
Norwood, Ohio Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Norwood, Ohio apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
