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 a population of 8,466, 3,516 total housing units (homes and apartments), and a median house value of $377,455, Newton real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Newton homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Newton, accounting for 54.34% of the town's housing units. Other types of housing that are prevalent in Newton include large apartment complexes or high rise apartments ( 31.49%), duplexes, homes converted to apartments or other small apartment buildings ( 8.16%), and a few row houses and other attached homes ( 5.19%).
People in Newton primarily live in small (one, two or no bedroom) single-family detached homes. Newton has a mixture of owner-occupied and renter-occupied housing.
The housing in Newton was primarily built before 1939 ( 32.47%), making the housing stock in Newton some of the oldest overall in America, although there is a range of ages of homes in Newton. The next most important housing age is between 1970-1999 ( 28.32%), followed by between 1940-1969 ( 25.47%). There's also some housing in Newton built between 2000 and later ( 13.74%).
Vacant housing appears to be an issue in Newton. Fully 11.50% of the housing stock is classified as vacant. Left unchecked, vacant Newton homes and apartments can be a drag on the real estate market, holding Newton 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.
Newton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newton during the period has been just 5.69%, which is lower than 70% of US communities.
Appreciation rates are so strong in Newton that despite a nationwide downturn in the housing market, Newton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newton appreciation rates continue to be some of the highest in America, at 10.75%, which is higher than appreciation rates in 90.28% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newton. Newton appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New Jersey, our data show that Newton's latest annual appreciation rate is higher than 50% of the other cities and towns in New Jersey.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Newton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newton - 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 Newton real estate investment or home purchase decisions.
$377,455
for New jersey
for nation
3,516
$2,418 / per month