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 3,313 people, 1,398 houses or apartments, and a median cost of homes of $130,650, house prices in Newbern are some of the most affordable in Tennessee as well as the nation.
Single-family detached homes are the single most common housing type in Newbern, accounting for 75.30% of the town's housing units. Other types of housing that are prevalent in Newbern include duplexes, homes converted to apartments or other small apartment buildings ( 19.14%), mobile homes or trailers ( 2.91%), and a few large apartment complexes or high rise apartments ( 2.65%).
The most prevalent building size and type in Newbern are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.00% owning and 46.00% renting.
There is a lot of housing in Newbern 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 Newbern built between 1940-1969 ( 32.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.07%). There's also some housing in Newbern built before 1939 ( 8.01%).
Real estate appreciation rates in Newbern's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.34% during the period.
Over the last year, Newbern appreciation rates have trailed the rest of the nation. In the last twelve months, Newbern's appreciation rate has been 4.16%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newbern were at -1.41%, which equates to an annual appreciation rate of -5.54%.
Relative to Tennessee, our data show that Newbern's latest annual appreciation rate is lower than 90% of the other cities and towns in Tennessee.
$1,354 / per month