As of Q2 2024, the median single-family sale price in Norristown sits at $230,000, up 6.4% year-over-year, while days-on-market have tightened to 14 days—half the county average. Rowhomes built in the 1920–1940 era dominate the lower price bands, trading between $185k–$250k, whereas new-construction townhomes near the river command $350k–$400k. Condo inventory is thin; only 28 active listings county-wide, so FHA-approved condos like Riverwalk Lofts receive multiple bids.

• Price per square foot: $155 (vs. $230 for all of Montgomery County)
• Share of FHA purchases: 38%—one of the highest ratios in the PA suburbs
• Investor activity: 18% of sales, down from 28% in 2022 as rents plateau
• Forecast: 4–5% appreciation expected for 2025 as the Lafayette Street Corridor revitalization breaks ground

West End: Tree-lined blocks between Marshall and Fornance Streets. Prices $190k–$260k. Most homes need only cosmetic updates, perfect for FHA 203(k) bundled loans.

Northmont: North of Main and east of Swede, this pocket gives you proximity to Elmwood Park and the commuter rail without the premium. Expect walk-out basements—great for self-employed borrowers who need a home-office deduction.

East End Historic District: Larger twins with original hardwood. Because it’s on the National Register, NMHL can layer the Federal Historic Tax Credit with FHA financing, cutting effective rate by 0.375%.

Riverwalk: Luxury townhomes built after 2010. $350k–$425k. HOA under $180/month includes snow removal—important for DTI calculations. Most lenders shy away from high HOA; NMHL already pre-negotiated approval with the HOA, so we can close in 21 days.

Norristown’s combined millage is 34.9 mills (3.49% of assessed value), broken down as:

• County: 3.4 mills
• School: 26.0 mills
• Municipal: 5.5 mills

Assessed value equals 100% of 1996 market value, so most buyers see assessed numbers far below actual sale price. Appeal is possible within 40 days of purchase; NMHL clients receive a free appeal template and recent comps so you can shave hundreds off the annual bill. If you buy inside the KOZ zone (roughly bounded by Main, Markley, and Johnson Highway), you’ll pay zero real-estate taxes for five years and half-millage for the next five—a savings of $6,000+ annually on a typical $230k purchase.

Montgomery County has the third-highest percentage of self-employed workers in PA, yet many banks still demand two years of tax returns. NMHL’s 12-Month Bank-Statement Program allows personal or business statements up to 90% LTV on loans to $750k. You’ll need:

• 20% down for 90% LTV or 10% down for 80% LTV
• 680 minimum FICO
• One-year CPA-prepared P&L (we have local CPAs on speed-dial)

Debt-service-coverage-ratio (DSCR) investor loans are also hot in Norristown’s emerging rental blocks. Qualify using the property’s expected rent—no personal income docs needed. We close these in 18 days average, letting you compete with cash investors.

Pennsylvania’s Keystone Advantage Assistance gives up to $6,000 at 0% interest for 5 years, forgiven monthly. Stack it with:

• Montgomery County First-Time Buyer: $10,000 forgivable after five years—can be combined with FHA or VA.
• PHFA Access Modification: $10,000 for buyers with a household member who has a permanent disability—covers accessibility renovations rolled into the same note.
• Norristown Municipal KOZ: Five-year tax abatement worth $8,000+ annually.

NMHL’s AssistStack software automatically pairs every borrower with every grant they qualify for, then locks the best available 30-year fixed rate before you even shop. Average combined assistance last year: $18,350—enough to cover most of a 3.5% down payment and half the closing costs.

With the 422 corridor and the old Naval Air Station Joint Reserve Base nearby, Norristown has a large veteran population. NMHL closed 42 VA zero-down loans here in 2023—double the number of any other local lender. Key perks:

• 100% financing up to $726,200 with no monthly PMI
• VA IRRRL streamline refi in 10 days if rates drop 0.25%
• Disabled-veteran property-tax exemption saves $1,200+ annually in Norristown
• VA construction-to-perm if you’d rather build on one of the remaining $80k lots in Plymouth Township

We also waive the $1,195 underwriting fee for all veterans and active-duty, and our in-house appraisal ordering team gets turn-times under 10 days—critical when sellers fear VA appraisal delays.