Newark, OH
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Newark, OH 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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

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

Newark Housing Market Information

With 49,134 people, 19,683 houses or apartments, and a median cost of homes of $126,380, house prices in Newark are solidly below the national average.

Single-family detached homes are the single most common housing type in Newark, accounting for 65.05% of the city's housing units. Other types of housing that are prevalent in Newark include duplexes, homes converted to apartments or other small apartment buildings ( 16.65%), large apartment complexes or high rise apartments ( 13.59%), and a few row houses and other attached homes ( 4.16%).

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 52.71% owning and 47.29% 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 ( 32.93%). A lesser amount of the housing stock also hails from before 1939 ( 25.14%). There's also some housing in Newark built between 2000 and later ( 8.43%).

Vacant housing appears to be an issue in Newark. Fully 10.06% of the housing stock is classified as vacant. Left unchecked, vacant Newark homes and apartments can be a drag on the real estate market, holding Newark 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.

Newark Home Appreciation Rates

Real estate appreciation rates in Newark's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.43% during the period.

NeighborhoodScout's data show that during the latest twelve months, Newark's appreciation rate, at 5.93%, has been at or slightly above the national average. In the latest quarter, Newark's appreciation rate has been 0.48%, which annualizes to a rate of 1.95%.

Relative to Ohio, our data show that Newark's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.

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:
$126,380

Newark, OH HOME PRICES

Value Range
> $1,138,742 0.0
$854,385 - $1,138,742 0.0
$569,590 - $854,384 0.3
$455,590 - $569,589 0.9
$341,796 - $455,589 2.4
$227,796 - $341,795 8.9
$113,979 - $227,795 44.3
$57,001 - $113,978 35.2
$0 - $57,000 7.9

Low for OH
Low for Nation

Value Relative to Nation Value Relative to State
65.4773722627737 63.9107611548556

Number Of Homes And Apartments:
19,683

Newark Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OH*
Compared To
America*
Latest Quarter:
2017 Q4 - 2018 Q1
Last 12 Months:
2017 Q1 - 2018 Q1
Last 2 Years:
2016 Q1 - 2018 Q1
Last 5 Years:
2013 Q1 - 2018 Q1
Last 10 Years:
2008 Q1 - 2018 Q1
Since 2000:
2000 Q1 - 2018 Q1
18.77% 0.95%
6
2
* 10 is highest


Rent & Ownership

 

Average Market Rent:
$928 / per month

Homeownership Rate

Homeownership
Owners 52.71
Renters 47.29
Vacant 10.06

Housing Market Details

 

Age of Homes

AGE OF Newark HOMES
2000 or Newer 8.4
1970 - 1999 33.5
1940 - 1969 32.9
1939 or Older 25.1

Types of Homes

TYPE OF Newark HOMES
Single-Family 65.0
Townhomes 4.2
Small Apt. Buildings 16.7
Apt. Complexes 13.6
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Newark HOMES
No Bedroom 2.52
1 Bedroom 13.30
2 Bedrooms 29.77
3 Bedrooms 39.96
4 Bedrooms 12.83
5 or more bedrooms 1.63