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 4,442 people, 1,786 houses or apartments, and a median cost of homes of $142,006, Newport real estate values are some of the lowest in Vermont, although compared to real estate around the nation, Newport homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Newport, accounting for 57.04% of the city's housing units. Other types of housing that are prevalent in Newport include duplexes, homes converted to apartments or other small apartment buildings ( 29.80%), large apartment complexes or high rise apartments ( 9.45%), and a few mobile homes or trailers ( 2.78%).
People in Newport primarily live in small (one, two or no bedroom) single-family detached homes. Newport has a mixture of owner-occupied and renter-occupied housing.
The housing in Newport was primarily built before 1939 ( 55.89%), 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 1970-1999 ( 21.08%), followed by between 1940-1969 ( 18.54%). There's also some housing in Newport built between 2000 and later ( 4.49%).
Vacant housing appears to be an issue in Newport. Fully 17.24% of the housing stock is classified as vacant. Left unchecked, vacant Newport homes and apartments can be a drag on the real estate market, holding Newport 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's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newport during the period has been just -0.94%, which is lower than 70% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Newport's appreciation rate, at 3.60%, has been at or slightly above the national average. In the latest quarter, Newport's appreciation rate has been 2.55%, which annualizes to a rate of 10.60%.
Importantly, this makes Newport one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Vermont, our data show that Newport's latest annual appreciation rate is lower than 50% of the other cities and towns in Vermont.
|$771,001 - $1,028,000||0.0|
|$514,001 - $771,000||1.1|
|$411,001 - $514,000||1.6|
|$308,001 - $411,000||4.2|
|$205,001 - $308,000||7.4|
|$102,001 - $205,000||53.3|
|$51,001 - $102,000||29.0|
|$0 - $51,000||3.4|
|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 HOMES|
|2000 or Newer||4.5|
|1970 - 1999||21.1|
|1940 - 1969||18.5|
|1939 or Older||55.9|
|TYPE OF Newport HOMES|
|Small Apt. Buildings||29.8|
|SIZE OF Newport HOMES|
|5 or more bedrooms||3.99|