Newburgh, 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 Q1 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

Newburgh, NY Housing Market Trends

With 28,177 people, 9,967 houses or apartments, and a median cost of homes of $196,112, Newburgh real estate and house prices are near the national average for all cities and towns.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Newburgh, accounting for 45.20% of the city's housing units. Other types of housing that are prevalent in Newburgh include single-family detached homes ( 26.92%), large apartment complexes or high rise apartments ( 20.62%), and a few row houses and other attached homes ( 6.67%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Newburgh is dominated by renter-occupied one, two, or no bedrooms apartments. 69.30% of Newburgh's dwellings are rentals.

The housing in Newburgh was primarily built before 1939 ( 60.96%), making the housing stock in Newburgh some of the oldest overall in America, although there is a range of ages of homes in Newburgh. The next most important housing age is between 1940-1969 ( 24.52%), followed by between 1970-1999 ( 12.53%). There's also some housing in Newburgh built between 2000 and later ( 1.99%).

Vacant housing appears to be an issue in Newburgh. Fully 18.33% of the housing stock is classified as vacant. Left unchecked, vacant Newburgh homes and apartments can be a drag on the real estate market, holding Newburgh 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.

Newburgh Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Newburgh, where house values have increased just 12.46%, which is annualized rate of 1.18%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Appreciation rates are so strong in Newburgh that despite a nationwide downturn in the housing market, Newburgh real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newburgh appreciation rates continue to be some of the highest in America, at 8.68%, which is higher than appreciation rates in 81.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newburgh. Newburgh appreciation rates in the latest quarter were at 1.81%, which equates to an annual appreciation rate of 7.43%.

Relative to New York, our data show that Newburgh's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.

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

Average Home Values

 

Median Home Value:
$196,112

Newburgh, NY HOME PRICES

> $1,259,000
0.4%
0.4%
$944,001 - $1,259,000
0.0%
0.0%
$629,001 - $944,000
4.4%
4.4%
$504,001 - $629,000
1.2%
1.2%
$378,001 - $504,000
4.8%
4.8%
$252,001 - $378,000
20.8%
20.8%
$126,001 - $252,000
52.9%
52.9%
$63,001 - $126,000
13.5%
13.5%
$0 - $63,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for NY

Value Relative To Nation

Number Of Homes And Apartments:
9,967

Newburgh Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
64.58% 2.37%
2
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,911 / per month

Homeownership Rate

Owners
30.7%
30.7%
Renters
69.3%
69.3%
Vacant
18.3%
18.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
2.0%
2.0%
1970 - 1999
12.5%
12.5%
1940 - 1969
24.5%
24.5%
1939 or Older
61.0%
61.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
26.9%
26.9%
Townhomes
6.7%
6.7%
Small Apt. Buildings
45.2%
45.2%
Apt. Complexes
20.6%
20.6%
Mobile Homes
0.6%
0.6%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
6.3%
6.3%
1 Bedroom
21.9%
21.9%
2 Bedrooms
30.5%
30.5%
3 Bedrooms
30.0%
30.0%
4 Bedrooms
9.1%
9.1%
5 or more bedrooms
2.1%
2.1%
0.0% 100.0%
% OF HOMES