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 about Scout's Real Estate Data
With a population of 47,312, 14,805 total housing units (homes and apartments), and a median house value of $1,348,495, Newark house prices are not only among the most expensive in California, Newark 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 Newark, accounting for 66.94% of the city's housing units. Other types of housing that are prevalent in Newark include large apartment complexes or high rise apartments ( 14.30%), row houses and other attached homes ( 13.08%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.17%).
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 69.26% of Newark's homes, and 70.55% 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 ( 39.02%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.80%). There's also some housing in Newark built before 1939 ( 2.61%).
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 138.20% over the last ten years, which is an average annual home appreciation rate of 9.07%, 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.
Over the last year, Newark appreciation rates have trailed the rest of the nation. In the last twelve months, Newark's appreciation rate has been 5.51%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newark were at 0.40%, which equates to an annual appreciation rate of 1.59%.
Relative to California, our data show that Newark's latest annual appreciation rate is lower than 50% 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.
$1,348,495
for California
for nation
14,805
$4,000 / per month