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These days, finding an affordable place to live in the Newark area can be challenging. Home prices in Newark are now at a median cost of $282,759, higher than the Indiana average of $232,932.
The average cost of rent is $762/mo in Newark, primarily driven by the current value of real estate in the Newark area. In Newark, 10.07% of households rent, and 59.46% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Newark is $8,892 per month. Households that rent pay about 8.56% of their income on rent here. Newark’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Vilas, IN: less expensive homes
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- Ridgeport, IN: equally priced homes
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- Farmers, IN: less expensive homes
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- Freeman, IN: less expensive homes
- Cincinnati, IN: less expensive homes
Cities with Similar Populations
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- Toolville, CA: higher priced homes
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- Tin City, NC: less expensive homes
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- Throopsville, NY: less expensive homes
- Thida, AR: less expensive homes
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