Newark, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Newark Neighborhoods Since 2000




Newark, DE Real Estate Data


Newark Housing Market Information

With 33,817 people, 9,691 houses or apartments, and a median cost of homes of $304,133, 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 51.54% of the city's housing units. Other types of housing that are prevalent in Newark include large apartment complexes or high rise apartments ( 29.39%), row houses and other attached homes ( 12.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.61%).

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 43.14% owning and 56.86% 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 ( 36.76%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.95%). There's also some housing in Newark built before 1939 ( 8.88%).

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 -0.87%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Newark's appreciation rate, at 4.48%, has been at or slightly above the national average. In the latest quarter, Newark's appreciation rate has been 1.89%, which annualizes to a rate of 7.76%.

Relative to Delaware, our data show that Newark's latest annual appreciation rate is lower than 80% 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:
$304,133

Newark, DE HOME PRICES

Value Range
> $1,105,000 0.6
$829,001 - $1,105,000 0.4
$552,001 - $829,000 3.2
$442,001 - $552,000 8.7
$332,001 - $442,000 23.6
$221,001 - $332,000 44.6
$111,001 - $221,000 16.0
$55,001 - $111,000 1.3
$0 - $55,000 1.7

High for DE
Very High for Nation

Value Relative to Nation Value Relative to State
16.5017274696961 25.0

Number Of Homes And Apartments:
9,691

Rent & Ownership

 

Average Market Rent:
$1,331 / per month

Homeownership Rate

Homeownership
Owners 43.14
Renters 56.86
Vacant 8.58

Housing Market Details

 

Age of Homes

AGE OF Newark HOMES
2000 or Newer 13.0
1970 - 1999 41.4
1940 - 1969 36.8
1939 or Older 8.9

Types of Homes

TYPE OF Newark HOMES
Single-Family 51.5
Townhomes 13.0
Small Apt. Buildings 5.6
Apt. Complexes 29.4
Mobile Homes 0.4
Other 0.1

Home Size

SIZE OF Newark HOMES
No Bedroom 1.04
1 Bedroom 15.58
2 Bedrooms 17.68
3 Bedrooms 27.45
4 Bedrooms 32.78
5 or more bedrooms 5.47

Newark Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
60.07% 2.81% 6 7
* 10 is highest