Newport, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Newport, NC Real Estate Data


Newport Housing Market Information

With 4,723 people, 1,785 houses or apartments, and a median cost of homes of $175,147, Newport real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Newport, accounting for 79.92% of the town's housing units. Other types of housing that are prevalent in Newport include duplexes, homes converted to apartments or other small apartment buildings ( 8.94%), large apartment complexes or high rise apartments ( 6.64%), and a few row houses and other attached homes ( 2.51%).

The most prevalent building size and type in Newport are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.01% owning and 45.99% renting.

There is a lot of housing in Newport 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 built between 2000 and later ( 22.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 14.23%). There's also some housing in Newport built before 1939 ( 11.35%).

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 4.66%, which ranks in the top 50% nationwide. This equates to an annual average Newport house appreciation rate of 0.46%.

Over the last year, Newport appreciation rates have trailed the rest of the nation. In the last twelve months, Newport's appreciation rate has been 3.68%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newport were at 0.99%, which equates to an annual appreciation rate of 4.04%.

Notably, Newport's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Newport's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. 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:
$175,147

Newport, NC HOME PRICES

Value Range
> $1,048,000 0.0
$786,001 - $1,048,000 0.0
$524,001 - $786,000 0.1
$419,001 - $524,000 0.0
$314,001 - $419,000 3.8
$210,001 - $314,000 11.2
$104,001 - $210,000 73.8
$53,001 - $104,000 7.8
$0 - $53,000 3.3

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
40.9322480529367 33.0308529945554

Number Of Homes And Apartments:
1,785

Rent & Ownership

 

Average Market Rent:
$1,077 / per month

Homeownership Rate

Homeownership
Owners 54.01
Renters 45.99
Vacant 6.64

Housing Market Details

 

Age of Homes

AGE OF Newport HOMES
2000 or Newer 22.5
1970 - 1999 51.9
1940 - 1969 14.2
1939 or Older 11.3

Types of Homes

TYPE OF Newport HOMES
Single-Family 79.9
Townhomes 2.5
Small Apt. Buildings 8.9
Apt. Complexes 6.6
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Newport HOMES
No Bedroom 2.46
1 Bedroom 7.11
2 Bedrooms 12.60
3 Bedrooms 59.21
4 Bedrooms 13.81
5 or more bedrooms 4.81

Newport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
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
51.07% 2.46% 9 6
* 10 is highest