Newcastle, WA 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Newcastle, WA Housing Market Trends

With 12,292 people, 4,504 houses or apartments, and a median cost of homes of $902,828, Newcastle house prices are not only among the most expensive in Washington, Newcastle real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Newcastle, accounting for 69.75% of the city's housing units. Other types of housing that are prevalent in Newcastle include large apartment complexes or high rise apartments ( 23.91%), row houses and other attached homes ( 4.31%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Newcastle. Owner-occupied housing accounts for 75.46% of Newcastle's homes, and 57.88% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Newcastle 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 Newcastle built between 2000 and later ( 34.69%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.85%).

Newcastle Home Appreciation Rates

In the last 10 years, Newcastle has experienced some of the highest home appreciation rates of any community in the nation. Newcastle real estate appreciated 93.09% over the last ten years, which is an average annual home appreciation rate of 6.80%, putting Newcastle in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Newcastle definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Newcastle that despite a nationwide downturn in the housing market, Newcastle real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newcastle appreciation rates continue to be some of the highest in America, at 6.59%, which is higher than appreciation rates in 78.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newcastle. Newcastle appreciation rates in the latest quarter were at 2.42%, which equates to an annual appreciation rate of 10.02%.

Relative to Washington, our data show that Newcastle's latest annual appreciation rate is lower than 80% of the other cities and towns in Washington.

Average Home Values

 

Median Home Value:
$902,828

Newcastle, WA HOME PRICES

> $1,241,000
20.0%
20.0%
$930,001 - $1,241,000
29.6%
29.6%
$620,001 - $930,000
30.3%
30.3%
$496,001 - $620,000
7.0%
7.0%
$372,001 - $496,000
5.6%
5.6%
$248,001 - $372,000
3.7%
3.7%
$124,001 - $248,000
2.6%
2.6%
$62,001 - $124,000
0.1%
0.1%
$0 - $62,000
1.0%
1.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for WA

Value Relative To Nation

Number Of Homes And Apartments:
4,504

Newcastle Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
157.11% 4.60%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,758 / per month

Homeownership Rate

Owners
75.5%
75.5%
Renters
24.5%
24.5%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
34.7%
34.7%
1970 - 1999
51.7%
51.7%
1940 - 1969
12.8%
12.8%
1939 or Older
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.7%
69.7%
Townhomes
4.3%
4.3%
Small Apt. Buildings
1.2%
1.2%
Apt. Complexes
23.9%
23.9%
Mobile Homes
0.8%
0.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
12.0%
12.0%
2 Bedrooms
15.2%
15.2%
3 Bedrooms
24.4%
24.4%
4 Bedrooms
33.4%
33.4%
5 or more bedrooms
13.2%
13.2%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Newcastle

Zip Codes in Newcastle, WA