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 a population of 182,385, 69,073 total housing units (homes and apartments), and a median house value of $198,714, Newport News real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Newport News, accounting for 50.68% of the city's housing units. Other types of housing that are prevalent in Newport News include large apartment complexes or high rise apartments ( 27.04%), row houses and other attached homes ( 10.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.97%).
The most prevalent building size and type in Newport News are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.84% owning and 52.16% renting.
There is a lot of housing in Newport News 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 Newport News built between 1940-1969 ( 33.69%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.10%). There's also some housing in Newport News built before 1939 ( 4.49%).
Vacant housing appears to be an issue in Newport News. Fully 10.50% of the housing stock is classified as vacant. Left unchecked, vacant Newport News homes and apartments can be a drag on the real estate market, holding Newport News 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.
Newport News's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newport News during the period has been just -2.00%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Newport News's appreciation rate, at 3.85%, has been at or slightly above the national average. In the latest quarter, Newport News's appreciation rate has been -0.63%, which annualizes to a rate of -2.48%.
Notably, Newport News's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Newport News's latest annual appreciation rate is higher than 70% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport News differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport News - 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 Newport News real estate investment or home purchase decisions.
|$761,001 - $1,015,000||0.6|
|$507,001 - $761,000||1.2|
|$406,001 - $507,000||1.6|
|$304,001 - $406,000||6.6|
|$203,001 - $304,000||30.7|
|$101,001 - $203,000||43.9|
|$51,001 - $101,000||8.0|
|$0 - $51,000||6.8|
|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 Newport News HOMES|
|2000 or Newer||12.1|
|1970 - 1999||49.7|
|1940 - 1969||33.7|
|1939 or Older||4.5|
|TYPE OF Newport News HOMES|
|Small Apt. Buildings||9.0|
|SIZE OF Newport News HOMES|
|5 or more bedrooms||2.17|