Commercial Real Estate Market in Norwood, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
Market Trends
Norwood, KY spans 9.5 square miles in Jefferson County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Norwood, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Norwood, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Norwood, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily space in Norwood, KY asks $120/SF to buy. Vacancy runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 87.9%
- Commercial 12.1%
Largest Zones share of zoned land by district
Residential Single Family District
Residential Single Family District
Commercial District
Residential Multifamily District
Residential Single Family District
Norwood, KY zones 73 acres across 8 districts. Commercial zoning covers 12.1% of zoned land, residential 87.9%. The largest single district is Residential Single Family District at 45.2%. For commercial buyers the practical constraint is that only 12.1% of land carries a commercial or industrial designation.
Residential Single Family District (R5)
The R-5 District is intended for low-density, single-family residential development, preserving neighborhood character and open space.
Market overview
Demographics & Economy
Norwood, KY has 21,725 residents in 10,953 households. Density runs 2,298 people per square mile. Median household income here is $81,623 and median gross rent $1,326 a month.
21,725
Population
10,953
Households
2
Avg Household Size
40
Median Age
57%
College-Educated
96%
High-School Grad
9.5 sq mi
ZIP Area
2,298
Density / Sq Mi
$81,623
Median Household Income
$54,592
Median Earnings
$1,326
Median Rent
$347,000
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Lyndon | — | — |
| Bellemeade | — | — |
| Woodlawn Park | — | — |
| Crossgate | — | — |
Frequently Asked Questions
What zoning applies to commercial property in Norwood?
Norwood, KY zones 73 acres across 8 districts, of which 12.1% is commercial and 0% industrial. The largest single district is Residential Single Family District at 45.2% of zoned land. The R-5 District is intended for low-density, single-family residential development, preserving neighborhood character and open space. Residential zoning covers 87.9% and open space 0%.
Methodology & data sources
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 73 zoned acres across 8 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
