Newport Beach, CA 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 Q2 2021. 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

Newport Beach, CA Housing Market Trends

With 84,534 people, 37,605 houses or apartments, and a median cost of homes of $2,180,985, Newport Beach house prices are not only among the most expensive in California, Newport Beach 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 Newport Beach, accounting for 48.44% of the city's housing units. Other types of housing that are prevalent in Newport Beach include large apartment complexes or high rise apartments ( 25.87%), row houses and other attached homes ( 15.09%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.29%).

The most prevalent building size and type in Newport Beach are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.40% owning and 43.60% renting.

There is a lot of housing in Newport Beach 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 Beach built between 1940-1969 ( 34.28%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.73%). There's also some housing in Newport Beach built before 1939 ( 4.12%).

Vacant housing appears to be an issue in Newport Beach. Fully 15.66% of the housing stock is classified as vacant. Left unchecked, vacant Newport Beach homes and apartments can be a drag on the real estate market, holding Newport Beach 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 Beach Home Appreciation Rates

In the last 10 years, Newport Beach has experienced some of the highest home appreciation rates of any community in the nation. Newport Beach real estate appreciated 79.02% over the last ten years, which is an average annual home appreciation rate of 6.00%, putting Newport Beach in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Newport Beach definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Newport Beach appreciation rates have trailed the rest of the nation. In the last twelve months, Newport Beach's appreciation rate has been 6.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newport Beach were at 3.18%, which equates to an annual appreciation rate of 13.35%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport Beach - 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 Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$2,180,985

Newport Beach, CA HOME PRICES

> $1,087,000
77.2%
77.2%
$815,001 - $1,087,000
10.4%
10.4%
$544,001 - $815,000
6.8%
6.8%
$435,001 - $544,000
1.2%
1.2%
$326,001 - $435,000
1.7%
1.7%
$218,001 - $326,000
0.5%
0.5%
$109,001 - $218,000
0.7%
0.7%
$54,001 - $109,000
0.1%
0.1%
$0 - $54,000
1.4%
1.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for CA

Value Relative To Nation

Number Of Homes And Apartments:
37,605

Newport Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
164.65% 4.63%
8
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,831 / per month

Homeownership Rate

Owners
56.4%
56.4%
Renters
43.6%
43.6%
Vacant
15.7%
15.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
13.7%
13.7%
1970 - 1999
47.9%
47.9%
1940 - 1969
34.3%
34.3%
1939 or Older
4.1%
4.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
48.4%
48.4%
Townhomes
15.1%
15.1%
Small Apt. Buildings
9.3%
9.3%
Apt. Complexes
25.9%
25.9%
Mobile Homes
1.2%
1.2%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.5%
4.5%
1 Bedroom
11.4%
11.4%
2 Bedrooms
28.5%
28.5%
3 Bedrooms
27.4%
27.4%
4 Bedrooms
18.8%
18.8%
5 or more bedrooms
9.3%
9.3%
0.0% 100.0%
% OF HOMES