Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 45,336 people, 13,436 houses or apartments, and a median cost of homes of $726,207, real estate costs in Newark are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive California communities.
Single-family detached homes are the single most common housing type in Newark, accounting for 69.78% of the city's housing units. Other types of housing that are prevalent in Newark include large apartment complexes or high rise apartments ( 12.88%), row houses and other attached homes ( 12.49%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.62%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Newark. Owner-occupied housing accounts for 68.93% of Newark's homes, and 67.62% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Newark built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Newark built between 1940-1969 ( 40.61%). A lesser amount of the housing stock also hails from between 2000 and later ( 3.26%). There's also some housing in Newark built before 1939 ( 1.99%).
In the last 10 years, Newark has experienced some of the highest home appreciation rates of any community in the nation. Newark real estate appreciated 15.41% over the last ten years, which is an average annual home appreciation rate of 1.44%, putting Newark in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Newark definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Newark that despite a nationwide downturn in the housing market, Newark real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newark appreciation rates continue to be some of the highest in America, at 9.31%, which is higher than appreciation rates in 91.77% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newark. Newark appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.39%.
Importantly, this makes Newark one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to California, our data show that Newark's latest annual appreciation rate is higher than 70% 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 Newark differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newark - 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 2000, to assist you in making the best Newark real estate investment or home purchase decisions.
|$1,115,001 - $1,486,000||6.1|
|$743,001 - $1,115,000||39.4|
|$595,001 - $743,000||21.9|
|$446,001 - $595,000||17.6|
|$297,001 - $446,000||7.8|
|$148,001 - $297,000||2.9|
|$74,001 - $148,000||1.1|
|$0 - $74,000||1.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Newark HOMES|
|2000 or Newer||3.3|
|1970 - 1999||54.1|
|1940 - 1969||40.6|
|1939 or Older||2.0|
|TYPE OF Newark HOMES|
|Small Apt. Buildings||4.6|
|SIZE OF Newark HOMES|
|5 or more bedrooms||4.95|