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 about Scout's Real Estate Data
With 4,478 people, 1,640 houses or apartments, and a median cost of homes of $256,171, Newport real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Newport, accounting for 76.04% of the town's housing units. Other types of housing that are prevalent in Newport include large apartment complexes or high rise apartments ( 9.14%), duplexes, homes converted to apartments or other small apartment buildings ( 8.65%), and a few row houses and other attached homes ( 3.41%).
The most prevalent building size and type in Newport are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.94% owning and 43.06% renting.
There is a lot of housing in Newport 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 built between 2000 and later ( 34.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.74%). There's also some housing in Newport built before 1939 ( 5.25%).
Vacant housing appears to be an issue in Newport. Fully 11.30% 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.
Real estate appreciation rates in Newport's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.97% during the period.
NeighborhoodScout's data show that during the latest twelve months, Newport's appreciation rate, at 6.36%, has been at or slightly above the national average. In the latest quarter, Newport's appreciation rate has been 1.46%, which annualizes to a rate of 5.95%.
Relative to North Carolina, our data show that Newport's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Newport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport - 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 real estate investment or home purchase decisions.
$256,171
for North carolina
for nation
1,640
$1,495 / per month