There are currently 30,983 real estate properties in Newark, NJ, with a median automated valuation model (AVM) price of $330,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Newark, NJ, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Newark, NJ, is $352,830.00, with the most expensive house in Newark, NJ, topping out at $28,859,000.00 and the cheapest home in Newark, NJ, clocking in at $49,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Newark, NJ!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Newark, NJ, is on a rollercoaster ride. The average rent price in Newark, NJ, is $1,796.00. Indeed, when looking to rent in Newark, NJ, you can expect to pay as little as $910.00 or as much as $4,620.00, with the average rent median estimated to be $1,800.00. The good news is that finding an affordable and desirable property to rent in Newark, NJ -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Newark, NJ area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Newark, NJ and much more. Save thousands at closing with home foreclosure listings in Newark, NJ — up to 75% off market value!
Newark is located in Essex, New Jersey, with an estimated municipal population of 282,011 residents. All of the best foreclosed homes for sale in Newark are located in the following zip code areas on Foreclosure.com: 07103 07102 07105 07104 07107 07106 07108 07112 07114 07101 07175 07188 07191 07192 07193 07195 07198 07199. The estimated population per square kilometer (.62 miles) in Newark is 4,509.
So, about how much do homes cost in Newark? The most recent median value of resident-owned homes in Newark is 244,651. An estimated 22.3 percent of households in Newark own their homes, with an average family size of 3.53. The median household income in Newark is 35,199, with13.4 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Newark, the median commute time of resident workers (in minutes) is 35.2. And last, but certainly not least, are you looking for homes to rent in Newark? If so, the average rent price paid by renters in Newark is 1,085, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Newark, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Newark is 34.4, split between 48.8 percent male versus 51.2 female. The percentage of residents who report being married in Newark is 30, with an average family size of 3.53.
The percentage of residents who report their race in Newark is as follows:
|Black / African American||50.1%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Newark? Or maybe you are searching for 55+ active adult communities in and/or near Newark?
The percentage of residents who report their age in Newark is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Newark with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Newark.
How do you know that living in -- or moving to -- Newark is right where you need to be? Perhaps you grew up in Newark or already live nearby; therefore, the decision to buy a home in Newark is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Newark for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Newark:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Newark.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Newark can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Newark, meanwhile, can field multiple offers from more qualified buyers.