The Most Affordable Neighborhoods in Newark, NY by Home Value

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 $136,956, lower than the New York average of $610,895.

The average cost of rent is $1,035/mo in Newark, primarily driven by the current value of real estate in the Newark area. In Newark, 30.96% of households rent, and 40.02% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Newark is $5,649 per month. Households that rent pay about 18.32% of their income on rent here. Newark’s most expensive areas are in the northwestern regions, while the cheapest areas are in the eastern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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