Norfolk County, Massachusetts Housing Market
In Norfolk County, Massachusetts, the median home value is $683,900, with a median monthly rent of $2,149. This places Norfolk County at #56 nationally out of 3134 counties by median home value, and #5 within Massachusetts.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,676
- Establishments: 26,812
- BLS QCEW, 2025
Housing Supply
- Single-family: 399
- Multi-family: 795
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 307,462 (avg $206,823)
- Outflow: 304,692 (avg $207,039)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Norfolk County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 02482 | 275.7 | +9.29% | 2025 |
| 2 | 02322 | 293.7 | -6.74% | 2025 |
| 3 | 02481 | 256.9 | +14.05% | 2025 |
| 4 | 02492 | 300.1 | +8.81% | 2025 |
| 5 | 02186 | 310.2 | +4.39% | 2025 |
| 6 | 02090 | 280.2 | +1.97% | 2025 |
| 7 | 02038 | 266.2 | +3.22% | 2025 |
| 8 | 02032 | 264.6 | +5.50% | 2025 |
| 9 | 02035 | 268.6 | +4.17% | 2025 |
| 10 | 02062 | 275.5 | +3.47% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Norfolk County Compares
| Metric | Norfolk County | Massachusetts Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $683,900 | $634,257 | $227,706 |
| Median Gross Rent | $2,149 | $1,615 | $968 |
| Owner Occupancy Rate | 68.7% | 67.2% | 73.3% |
| Price/Rent Ratio | 26.5 | 32.3 | 18.7 |
Market Analysis
The median home value in Norfolk County is 7.8% above the Massachusetts state average and 200.3% above the U.S. national average. The median rent of $2,149/month is 33.1% above the state average.
With a price-to-rent ratio of 26.5, Norfolk County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Norfolk County has an owner-occupancy rate of 68.7%, compared to 67.2% in Massachusetts and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Nassau County | New York | $684,700 | $2,252 |
| El Dorado County | California | $679,900 | $1,715 |
| Placer County | California | $688,100 | $2,069 |
| Teton County | Idaho | $690,500 | $1,319 |
| Richmond County | New York | $675,500 | $1,733 |
Other Counties in Massachusetts
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Suffolk County | $705,800 | $2,129 | 36.5% |
| Middlesex County | $727,800 | $2,201 | 61.3% |
| Barnstable County | $629,000 | $1,678 | 81.1% |
| Essex County | $619,100 | $1,756 | 63.5% |
| Plymouth County | $556,000 | $1,747 | 77.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).