Newport, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Newport Neighborhoods Since 2000




Newport, KY 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

Newport Housing Market Information

With a population of 15,354, 6,173 total housing units (homes and apartments), and a median house value of $130,561, house prices in Newport are solidly below the national average.

Single-family detached homes are the single most common housing type in Newport, accounting for 51.23% of the city's housing units. Other types of housing that are prevalent in Newport include large apartment complexes or high rise apartments ( 22.68%), duplexes, homes converted to apartments or other small apartment buildings ( 20.12%), and a few row houses and other attached homes ( 3.73%).

People in Newport primarily live in small (one, two or no bedroom) single-family detached homes. Newport has a mixture of owner-occupied and renter-occupied housing.

The housing in Newport was primarily built before 1939 ( 59.71%), making the housing stock in Newport some of the oldest overall in America, although there is a range of ages of homes in Newport. The next most important housing age is between 1940-1969 ( 20.07%), followed by between 1970-1999 ( 16.03%). There's also some housing in Newport built between 2000 and later ( 4.20%).

Vacant housing appears to be an issue in Newport. Fully 17.97% of the housing stock is classified as vacant. Left unchecked, vacant Newport homes and apartments can be a drag on the real estate market, holding Newport 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.

Newport Home Appreciation Rates

Appreciation rates for homes in Newport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.10%, which ranks in the top 30% nationwide. This equates to an annual average Newport house appreciation rate of 1.06%.

Appreciation rates are so strong in Newport that despite a nationwide downturn in the housing market, Newport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newport appreciation rates continue to be some of the highest in America, at 9.31%, which is higher than appreciation rates in 91.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newport. Newport appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Kentucky, our data show that Newport's latest annual appreciation rate is higher than 90% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport - 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 real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$130,561

Newport, KY HOME PRICES

Value Range
> $1,169,000 0.1
$877,001 - $1,169,000 0.2
$584,001 - $877,000 0.9
$468,001 - $584,000 1.7
$351,001 - $468,000 4.5
$234,001 - $351,000 11.8
$117,001 - $234,000 32.2
$59,001 - $117,000 40.3
$0 - $59,000 8.3

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
59.5570139458573 31.328320802005

Number Of Homes And Apartments:
6,173

Newport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
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
52.30% 2.47% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$875 / per month

Homeownership Rate

Homeownership
Owners 41.55
Renters 58.45
Vacant 17.97

Housing Market Details

 

Age of Homes

AGE OF Newport HOMES
2000 or Newer 4.2
1970 - 1999 16.0
1940 - 1969 20.1
1939 or Older 59.7

Types of Homes

TYPE OF Newport HOMES
Single-Family 51.2
Townhomes 3.7
Small Apt. Buildings 20.1
Apt. Complexes 22.7
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Newport HOMES
No Bedroom 3.59
1 Bedroom 26.55
2 Bedrooms 33.10
3 Bedrooms 27.36
4 Bedrooms 7.43
5 or more bedrooms 1.97