Norwood is located close to the center of Illinois. Norwood is part of Peoria County. Norwood has 0.29 square miles of land area and has no water area. As of 2010-2014, the total Norwood population is 453, which has shrunk 4.23% since 2000. The population growth rate is much lower than the state average rate of 3.62% and is much lower than the national average rate of 11.61%. Norwood median household income is $46,518 in 2010-2014 and has grown by 15.84% since 2000. The income growth rate is lower than the state average rate of 22.70% and is much lower than the national average rate of 27.36%. Norwood median house value is $92,500 in 2010-2014 and has grown by 37.24% since 2000. The house value growth rate is higher than the state average rate of 34.33% and is lower than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Norwood is close to the state average in quality.