Norwood: Housing & Real Estate
Norwood homes sell at a median $243,000 (estimated market value runs 21% higher at $293,919), with median rent $833 (about the same as Cherokee County median $831; 1.2× below Oklahoma median $1,014). Homeownership rate: 91.1%. That's 1.4× higher than the Cherokee County median ($168,500); 1.2× higher than the Oklahoma median ($199,800). Market is warm. Vacancy rate 7.4%. New construction makes up 18.9% of stock. A municipal building code is in effect.
- 2.7× annual income — home value vs. household income (vs Oklahoma 3.3×).
- 24.3 years to break even renting at the median (vs Oklahoma 16y).
- 4-BR rent is 1.6× a studio — rent gradient by unit size.
- Median rent 12% below HUD 2-BR FMR — local market vs federal subsidy benchmark.
Home Values & Rent
Median home value $243,000 — 1.2× the Oklahoma median ($205,300). Median rent $833/month. homeownership rate 91.1% — above the U.S. share of ~65%.
| Affordability · Home Price To Income | 2.7× |
|---|---|
| Affordability · Home Affordability | affordable |
| Affordability · Rent Pct Income | 14.3% |
| Affordability · Rent Affordability | affordable |
| Affordability · Poverty Rate | 8.2% |
| Affordability · Property Tax Pct Income | 1.4% |
| Fair Market Rent · Studio rent | $764 (vs Oklahoma $933) |
| Fair Market Rent · One-bedroom rent | $769 (vs Oklahoma $987) |
| Fair Market Rent · Two-bedroom rent | $948 (vs Oklahoma $1,217) |
| Fair Market Rent · Three-bedroom rent | $1,215 (vs Oklahoma $1,602) |
| Fair Market Rent · Four-bedroom rent | $1,255 (vs Oklahoma $1,857) |
| Fair Market Rent · HUD FMR area | Cherokee County, OK |
| Fair Market Rent · Fiscal year | FY2026 |
| Home Value Estimate | $293,919 |
| Median Home Value | $243,000 (vs Oklahoma $205,300) |
| Median Rent | $833 (vs Oklahoma $1,052) |
Sources: HUD FMR FY2026 · Census ACS 5-Year 2023, B25077 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Tenure & Occupancy
Owner-occupied vs renter-occupied housing units, plus vacancy rates.
| Housing Market · Market temperature | warm |
|---|---|
| Housing Market · Vacancy rate | 7.4% |
| Housing Market · New construction (% of stock) | 18.9% |
| Housing Market · Price Appreciation 2Yr | 8.5% |
Utilities
Electricity, water, and broadband infrastructure serving residents. Broadband percentages reflect the share of premises that can subscribe to service at the listed speed (FCC Form 477).
Systems (5)
| Broadband · % of premises with 25/3 Mbps broadband | 100.0% (at Oklahoma median) |
|---|---|
| Broadband · % of premises with 100/20 Mbps broadband | 100.0% (at Oklahoma median) |
| Broadband · % of premises with 250/25 Mbps broadband | 100.0% (at Oklahoma median) |
| Broadband · % of premises with 1 Gbps / 100 Mbps broadband | 95.1% (vs Oklahoma 78.9%) |
| Broadband · Broadband-capable premises | 820 |
| Electricity · Electricity rate (¢/kWh) | 12.24¢/kWh |
| Electricity · Customers | 1878818 |
| Electricity · Revenue Millions | $2,977 |
| Electricity · Year | 2024 |
| Mobile Broadband · 3G mobile coverage | 0.000000000 |
| Mobile Broadband · 4G mobile coverage | 0.982550336 (vs Oklahoma 100.0%) |
| Mobile Broadband · 5G mobile coverage | 0.852348993 (vs Oklahoma 99.9%) |
| Mobile Home Parks Detail · County total | 4 |
Sources: FCC BDC Jun 2025 · EIA Annual Retail Sales 2023 · FCC BDC Mobile 2024 · HIFLD / IRS BMF · Refreshed 2026-04-12
Other
| Homeownership Rate | 91.1% (vs Oklahoma 58.6%) |
|---|---|
| Median Year Built | 2000 |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12