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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 2,521 people, 638 houses or apartments, and a median cost of homes of $115,196, house prices in New Town are solidly below the national average.
Single-family detached homes are the single most common housing type in New Town, accounting for 53.53% of the city's housing units. Other types of housing that are prevalent in New Town include mobile homes or trailers ( 22.25%), large apartment complexes or high rise apartments ( 13.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.55%).
The most prevalent building size and type in New Town are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.88% owning and 49.12% renting.
There is a lot of housing in New Town 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 New Town built between 1940-1969 ( 20.03%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.05%). There's also some housing in New Town built before 1939 ( 8.77%).
Vacant housing appears to be an issue in New Town. Fully 16.49% of the housing stock is classified as vacant. Left unchecked, vacant New Town homes and apartments can be a drag on the real estate market, holding New Town 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.
In the last 10 years, New Town has experienced some of the highest home appreciation rates of any community in the nation. New Town real estate appreciated 89.48% over the last ten years, which is an average annual home appreciation rate of 6.60%, putting New Town in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Town definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, New Town's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, New Town's appreciation rate has been 3.17%, which annualizes to a rate of 13.29%.
Importantly, this makes New Town one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to North Dakota, our data show that New Town's latest annual appreciation rate is higher than 60% of the other cities and towns in North Dakota.
|$851,001 - $1,135,000||0.0|
|$567,001 - $851,000||2.8|
|$454,001 - $567,000||3.0|
|$340,001 - $454,000||3.0|
|$227,001 - $340,000||17.2|
|$113,001 - $227,000||23.1|
|$56,001 - $113,000||27.6|
|$0 - $56,000||22.0|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF New Town HOMES|
|2000 or Newer||15.1|
|1970 - 1999||56.2|
|1940 - 1969||20.0|
|1939 or Older||8.8|
|TYPE OF New Town HOMES|
|Small Apt. Buildings||9.6|
|SIZE OF New Town HOMES|
|5 or more bedrooms||3.01|