Newark, DE Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Newark, DE Housing Market Trends

With 33,515 people, 10,737 houses or apartments, and a median cost of homes of $325,561, Newark real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Newark, accounting for 46.67% of the city's housing units. Other types of housing that are prevalent in Newark include large apartment complexes or high rise apartments ( 33.48%), row houses and other attached homes ( 13.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.97%).

The most prevalent building size and type in Newark are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 40.99% owning and 59.01% renting.

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 ( 35.59%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.10%). There's also some housing in Newark built before 1939 ( 5.16%).

Newark Home Appreciation Rates

Newark's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newark during the period has been just 2.37%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Newark's appreciation rate, at 8.59%, has been at or slightly above the national average. In the latest quarter, Newark's appreciation rate has been 3.46%, which annualizes to a rate of 14.58%.

Relative to Delaware, our data show that Newark's latest annual appreciation rate is higher than 50% of the other cities and towns in Delaware.

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.

Average Home Values

 

Median Home Value:
$325,561

Newark, DE HOME PRICES

> $1,191,000
0.6%
0.6%
$893,001 - $1,191,000
0.7%
0.7%
$595,001 - $893,000
1.8%
1.8%
$477,001 - $595,000
9.7%
9.7%
$357,001 - $477,000
29.1%
29.1%
$238,001 - $357,000
43.8%
43.8%
$119,001 - $238,000
12.7%
12.7%
$60,001 - $119,000
0.4%
0.4%
$0 - $60,000
1.1%
1.1%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for DE

Value Relative To Nation

Number Of Homes And Apartments:
10,737

Newark Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
88.32% 2.99%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,930 / per month

Homeownership Rate

Owners
41.0%
41.0%
Renters
59.0%
59.0%
Vacant
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.1%
14.1%
1970 - 1999
45.2%
45.2%
1940 - 1969
35.6%
35.6%
1939 or Older
5.2%
5.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
46.7%
46.7%
Townhomes
13.8%
13.8%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
33.5%
33.5%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.8%
2.8%
1 Bedroom
12.4%
12.4%
2 Bedrooms
22.7%
22.7%
3 Bedrooms
26.7%
26.7%
4 Bedrooms
31.2%
31.2%
5 or more bedrooms
4.2%
4.2%
0.0% 100.0%
% OF HOMES