Newport Beach appreciation rates and housing market information

Newport Beach housing market information

With a population of 70,022, 37,336 total housing units (homes and apartments), and a median house value of $1,494,512, Newport Beach house prices are not only among the most expensive in California, Newport Beach 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 Newport Beach, accounting for 43.16% of the city's housing units. Other types of housing that are prevalent in Newport Beach include large apartment complexes or high rise apartments (22.24%), row houses and other attached homes (17.93%), duplexes, homes converted to apartments, or other small apartment buildings (14.35%), and a few mobile homes or trailers (2.16%).

People in Newport Beach primarily live in small (one, two, or no bedroom) single-family detached homes. Newport Beach has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Newport Beach's housing was primarily built during this period, from the '40s through the '60s. A full 44.39% of the city's housing hails from this era. Other housing ages represented in Newport Beach include homes built between 1970-1994 (42.68%), and housing constructed from 1995 and later (8.06%). There's also some housing in Newport Beach built between 1939 and earlier (4.87%).

Vacant housing appears to be an issue in Newport Beach. Fully 11.37% of the housing stock is classified as vacant. Left unchecked, vacant Newport Beach homes and apartments can be a drag on the real estate market, holding Newport Beach real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Newport Beach home appreciation rates

In the last 10 years, Newport Beach has experienced some of the highest home appreciation rates of any community in the nation. Newport Beach real estate appreciated 138.52% over the last ten years, which is an average annual home appreciation rate of 13.85%, putting Newport Beach in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Newport Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Newport Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Newport Beach's appreciation rate has been -10.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newport Beach were at -0.04%, which equates to an annual appreciation rate of -0.16%.

Relative to California, our data show that Newport Beach's latest annual appreciation rate is higher than 74% of the other cities and towns in California.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport Beach - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Newport Beach real estate investment or home purchase decisions.