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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Norfolk, MA Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Norfolk, MA Housing Market Trends

With 11,552 people, 3,291 houses or apartments, and a median cost of homes of $942,007, Norfolk house prices are not only among the most expensive in Massachusetts, Norfolk real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Norfolk, accounting for 91.06% of the town's housing units. Other types of housing that are prevalent in Norfolk include row houses and other attached homes ( 4.98%), duplexes, homes converted to apartments or other small apartment buildings ( 2.37%), and a few large apartment complexes or high rise apartments ( 1.58%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Norfolk. Owner-occupied housing accounts for 81.85% of Norfolk's homes, and 85.26% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Norfolk built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Norfolk built between 1940-1969 ( 22.48%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.64%). There's also some housing in Norfolk built before 1939 ( 5.25%).

Norfolk Home Appreciation Rates

Real estate appreciation rates in Norfolk's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.79% during the period.

NeighborhoodScout's data show that during the latest twelve months, Norfolk's appreciation rate, at 7.11%, has been at or slightly above the national average. In the latest quarter, Norfolk's appreciation rate has been 2.38%, which annualizes to a rate of 9.87%.

Relative to Massachusetts, our data show that Norfolk's latest annual appreciation rate is lower than 60% of the other cities and towns in Massachusetts.

Average Home Values

Median Home Value

$942,007

Norfolk, MA Home Prices
> $1,384,000
$1,037,001 - $1,384,000
$691,001 - $1,037,000
$553,001 - $691,000
$415,001 - $553,000
$277,001 - $415,000
$138,001 - $277,000
$69,001 - $138,000
$0 - $69,000
5.1%
5.1%
28.7%
28.7%
41.8%
41.8%
16.1%
16.1%
4.5%
4.5%
2.5%
2.5%
0.0%
0.0%
0.3%
0.3%
0.9%
0.9%
0% 100.0%
% of Homes
Very High

for Massachusetts

Very High

for nation

Number of Homes And Apartments:

3,291

Norfolk Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,964 / per month

Homeownership Rate

Owners
Renters
81.9%
81.9%
18.1%
18.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.5%
3.5%
96.5%
96.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
19.6%
19.6%
52.6%
52.6%
22.5%
22.5%
5.2%
5.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
91.1%
91.1%
5.0%
5.0%
2.4%
2.4%
1.6%
1.6%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.9%
0.9%
3.0%
3.0%
8.6%
8.6%
40.4%
40.4%
44.9%
44.9%
2.2%
2.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Norfolk

Zip Codes in Norfolk, MA