Home Price Key
Affordable
Average
Expensive
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 $291,901, lower than the New Jersey average of $388,929.
The average cost of rent is $1,170/mo in Newark, primarily driven by the current value of real estate in the Newark area. While nearly 37.34% of residents own their homes outright in Newark, 75.04% rent.
Housing affordability isn’t just about home prices, though. The average household income in Newark is $3,599 per month. Households that rent pay about 32.51% of their income on rent here. Newark's most expensive areas are in the eastern regions, while the cheapest areas are in the southern parts of the city.
Nearby Cities
- East Newark, NJ: equally priced homes
- Harrison, NJ: higher priced homes
- East Orange, NJ: less expensive homes
- Irvington, NJ: less expensive homes
- Kearny, NJ: higher priced homes
- Silver Lake, NJ: equally priced homes
- Orange, NJ: equally priced homes
- Hillside, NJ: equally priced homes
- South Orange, NJ: higher priced homes
- Bloomfield, NJ: higher priced homes
Cities with Similar Populations
- South Jordan, UT: higher priced homes
- Santa Monica, CA: higher priced homes
- Santa Maria, CA: higher priced homes
- Santa Fe, NM: higher priced homes
- Santa Cruz, CA: higher priced homes
- Santa Clarita, CA: higher priced homes
- Santa Clara, CA: higher priced homes
- Santa Barbara, CA: higher priced homes
- Santa Ana, CA: higher priced homes
- Scottsdale, AZ: higher priced homes
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