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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Newberry, SC Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Newberry, SC Housing Market Trends

With 10,726 people, 3,916 houses or apartments, and a median cost of homes of $176,828, house prices in Newberry are solidly below the national average.

Single-family detached homes are the single most common housing type in Newberry, accounting for 70.75% of the city's housing units. Other types of housing that are prevalent in Newberry include large apartment complexes or high rise apartments ( 13.85%), duplexes, homes converted to apartments or other small apartment buildings ( 7.86%), and a few mobile homes or trailers ( 7.39%).

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

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Newberry's housing was primarily built during this period, from the '40s through the '60s. A full 38.32% of the city's housing hails from this era. Other housing ages represented in Newberry include homes built between 1970-1999 ( 25.00%) and housing constructed before 1939 ( 22.27%). There's also some housing in Newberry built between 2000 and later ( 14.41%).

Vacant housing appears to be an issue in Newberry. Fully 12.35% of the housing stock is classified as vacant. Left unchecked, vacant Newberry homes and apartments can be a drag on the real estate market, holding Newberry 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.

Newberry Home Appreciation Rates

Newberry's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newberry during the period has been just 5.28%, which is lower than 70% of US communities.

Appreciation rates are so strong in Newberry that despite a nationwide downturn in the housing market, Newberry real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newberry appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 72.46% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newberry. Newberry appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.88%.

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

Average Home Values

Median Home Value

$176,828

Newberry, SC Home Prices
> $1,260,000
$945,001 - $1,260,000
$630,001 - $945,000
$504,001 - $630,000
$378,001 - $504,000
$252,001 - $378,000
$126,001 - $252,000
$63,001 - $126,000
$0 - $63,000
0.0%
0.0%
0.0%
0.0%
2.1%
2.1%
4.2%
4.2%
4.5%
4.5%
16.9%
16.9%
24.7%
24.7%
37.2%
37.2%
10.4%
10.4%
0% 100.0%
% of Homes
Average

for South carolina

Low

for nation

Number of Homes And Apartments:

3,916

Newberry Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,545 / per month

Homeownership Rate

Owners
Renters
47.0%
47.0%
53.0%
53.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.4%
12.4%
87.6%
87.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.4%
14.4%
25.0%
25.0%
38.3%
38.3%
22.3%
22.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.7%
70.7%
0.2%
0.2%
7.9%
7.9%
13.9%
13.9%
7.4%
7.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.4%
1.4%
5.2%
5.2%
50.0%
50.0%
27.8%
27.8%
13.1%
13.1%
2.5%
2.5%
0% 100.0%
% of Homes

Popular Communities Near Newberry, SC

Zip Codes in Newberry, SC