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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Newark, NY 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Newark, NY Housing Market Trends

With a population of 9,019, 3,780 total housing units (homes and apartments), and a median house value of $200,572, house prices in Newark are solidly below the national average.

Single-family detached homes are the single most common housing type in Newark, accounting for 58.60% of the village's housing units. Other types of housing that are prevalent in Newark include duplexes, homes converted to apartments or other small apartment buildings ( 24.36%), large apartment complexes or high rise apartments ( 12.72%), and a few row houses and other attached homes ( 3.26%).

The most prevalent building size and type in Newark are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 54.55% owning and 45.45% renting.

The housing in Newark was primarily built before 1939 ( 39.51%), making the housing stock in Newark some of the oldest overall in America, although there is a range of ages of homes in Newark. The next most important housing age is between 1940-1969 ( 32.33%), followed by between 1970-1999 ( 21.54%). There's also some housing in Newark built between 2000 and later ( 6.62%).

Newark Home Appreciation Rates

Appreciation rates for homes in Newark have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.37%, which ranks in the top 40% nationwide. This equates to an annual average Newark house appreciation rate of 6.59%.

Appreciation rates are so strong in Newark that despite a nationwide downturn in the housing market, Newark real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newark appreciation rates continue to be some of the highest in America, at 11.24%, which is higher than appreciation rates in 98.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newark. Newark appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.85%.

Relative to New York, our data show that Newark's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

Average Home Values

Median Home Value

$200,572

Newark, NY Home Prices
> $1,407,000
$1,055,001 - $1,407,000
$703,001 - $1,055,000
$563,001 - $703,000
$422,001 - $563,000
$281,001 - $422,000
$140,001 - $281,000
$70,001 - $140,000
$0 - $70,000
0.0%
0.0%
0.3%
0.3%
1.1%
1.1%
0.0%
0.0%
5.4%
5.4%
6.5%
6.5%
54.1%
54.1%
30.6%
30.6%
2.1%
2.1%
0% 100.0%
% of Homes
Low

for New york

Low

for nation

Number of Homes And Apartments:

3,780

Newark Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,522 / per month

Homeownership Rate

Owners
Renters
54.5%
54.5%
45.5%
45.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.4%
7.4%
92.6%
92.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
6.6%
6.6%
21.5%
21.5%
32.3%
32.3%
39.5%
39.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.6%
58.6%
3.3%
3.3%
24.4%
24.4%
12.7%
12.7%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.0%
4.0%
15.4%
15.4%
27.9%
27.9%
35.3%
35.3%
14.7%
14.7%
2.7%
2.7%
0% 100.0%
% of Homes