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 87,127 people, 38,071 houses or apartments, and a median cost of homes of $2,120,799, 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 47.53% of the city's housing units. Other types of housing that are prevalent in Newport Beach include large apartment complexes or high rise apartments ( 22.87%), row houses and other attached homes ( 16.50%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 11.17%).
The most prevalent building size and type in Newport Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.67% owning and 45.33% renting.
There is a lot of housing in Newport Beach 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 Newport Beach built between 1940-1969 ( 35.11%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.51%). There's also some housing in Newport Beach built before 1939 ( 4.04%).
Vacant housing appears to be an issue in Newport Beach. Fully 12.86% 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.
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 18.37% over the last ten years, which is an average annual home appreciation rate of 1.70%, putting Newport Beach in the top 20% 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.
NeighborhoodScout's data show that during the latest twelve months, Newport Beach's appreciation rate, at 5.37%, has been at or slightly above the national average. In the latest quarter, Newport Beach's appreciation rate has been 1.99%, which annualizes to a rate of 8.20%.
Importantly, this makes Newport Beach 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 Newport Beach's latest annual appreciation rate is lower than 80% 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 2000, to assist you in making the best Newport Beach real estate investment or home purchase decisions.
|$958,001 - $1,277,000||12.8|
|$639,001 - $958,000||9.9|
|$511,001 - $639,000||3.0|
|$383,001 - $511,000||2.0|
|$255,001 - $383,000||0.9|
|$128,001 - $255,000||1.3|
|$64,001 - $128,000||0.5|
|$0 - $64,000||1.0|
|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 Newport Beach HOMES|
|2000 or Newer||12.5|
|1970 - 1999||48.3|
|1940 - 1969||35.1|
|1939 or Older||4.0|
|TYPE OF Newport Beach HOMES|
|Small Apt. Buildings||11.2|
|SIZE OF Newport Beach HOMES|
|5 or more bedrooms||8.34|