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 about Scout's Real Estate Data
With a population of 1,499, 606 total housing units (homes and apartments), and a median house value of $278,833, 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 45.18% of the borough's housing units. Other types of housing that are prevalent in Newport include duplexes, homes converted to apartments or other small apartment buildings ( 22.59%), row houses and other attached homes ( 21.01%), and a few large apartment complexes or high rise apartments ( 11.22%).
The most prevalent building size and type in Newport are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 43.92% owning and 56.08% renting.
The housing in Newport was primarily built before 1939 ( 67.61%), 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 ( 21.80%), followed by between 1970-1999 ( 9.32%). There's also some housing in Newport built between 2000 and later ( 1.26%).
Real estate appreciation rates in Newport's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.10% during the period.
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 7.64%, which is higher than appreciation rates in 79.84% 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 -0.82%, which equates to an annual appreciation rate of -3.24%.
Notably, Newport's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Pennsylvania, our data show that Newport's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$278,833
for Pennsylvania
for nation
606
$1,102 / per month