Newark, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Newark Neighborhoods Since 2000




Newark, DE Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Newark Housing Market Information

With a population of 33,817, 9,935 total housing units (homes and apartments), and a median house value of $266,351, 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 51.52% of the city's housing units. Other types of housing that are prevalent in Newark include large apartment complexes or high rise apartments ( 28.50%), row houses and other attached homes ( 14.34%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.45%).

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 44.32% owning and 55.68% 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 ( 36.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.58%). There's also some housing in Newark built before 1939 ( 8.22%).

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 -1.07%, which is lower than 70% of US communities.

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 1.98%, 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 0.08%, which equates to an annual appreciation rate of 0.32%.

Relative to Delaware, our data show that Newark's latest annual appreciation rate is lower than 70% 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:
$266,351

Newark, DE HOME PRICES

Value Range
> $1,064,000 0.5
$798,001 - $1,064,000 0.3
$532,001 - $798,000 2.9
$426,001 - $532,000 8.6
$319,001 - $426,000 24.6
$213,001 - $319,000 44.9
$106,001 - $213,000 15.9
$53,001 - $106,000 0.8
$0 - $53,000 1.5

High for DE
High for Nation

Value Relative to Nation Value Relative to State
20.2214930270714 27.2727272727273

Number Of Homes And Apartments:
9,935

Newark Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
57.05% 2.65% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,475 / per month

Homeownership Rate

Homeownership
Owners 44.32
Renters 55.68
Vacant 8.19

Housing Market Details

 

Age of Homes

AGE OF Newark HOMES
2000 or Newer 12.6
1970 - 1999 42.7
1940 - 1969 36.5
1939 or Older 8.2

Types of Homes

TYPE OF Newark HOMES
Single-Family 51.5
Townhomes 14.3
Small Apt. Buildings 5.5
Apt. Complexes 28.5
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Newark HOMES
No Bedroom 1.32
1 Bedroom 15.18
2 Bedrooms 17.84
3 Bedrooms 26.99
4 Bedrooms 34.18
5 or more bedrooms 4.48