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 10,412, 4,551 total housing units (homes and apartments), and a median house value of $510,801, Newport real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Newport, accounting for 53.23% of the city's housing units. Other types of housing that are prevalent in Newport include large apartment complexes or high rise apartments ( 15.19%), duplexes, homes converted to apartments or other small apartment buildings ( 14.11%), and a few mobile homes or trailers ( 9.79%).
The most prevalent building size and type in Newport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.76% owning and 40.24% 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 1940-1969 ( 24.16%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.18%). There's also some housing in Newport built before 1939 ( 9.52%).
Vacant housing appears to be an issue in Newport. Fully 18.38% 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.
Appreciation rates for homes in Newport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 108.58%, which ranks in the top 30% nationwide. This equates to an annual average Newport house appreciation rate of 7.63%.
Over the last year, Newport appreciation rates have trailed the rest of the nation. In the last twelve months, Newport's appreciation rate has been 1.42%, 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 were at 2.21%, which equates to an annual appreciation rate of 9.15%.
Relative to Oregon, our data show that Newport's latest annual appreciation rate is higher than 50% of the other cities and towns in Oregon.
$510,801
for Oregon
for nation
4,551
$1,775 / per month