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 4,333 people, 2,031 houses or apartments, and a median cost of homes of $242,179, house prices in Newport are solidly below the national average.
Single-family detached homes are the single most common housing type in Newport, accounting for 59.04% of the city's housing units. Other types of housing that are prevalent in Newport include duplexes, homes converted to apartments or other small apartment buildings ( 24.41%), large apartment complexes or high rise apartments ( 12.71%), and a few mobile homes or trailers ( 3.21%).
People in Newport primarily live in small (one, two or no bedroom) single-family detached homes. Newport has a mixture of owner-occupied and renter-occupied housing.
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 before 1939 ( 29.81%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.82%). There's also some housing in Newport built between 2000 and later ( 9.08%).
Vacant housing appears to be an issue in Newport. Fully 14.23% 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 112.04%, which ranks in the top 30% nationwide. This equates to an annual average Newport house appreciation rate of 7.81%.
Appreciation rates are so strong in Newport that despite a nationwide downturn in the housing market, Newport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Newport appreciation rates continue to be some of the highest in America, at 10.64%, which is higher than appreciation rates in 96.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Newport. Newport appreciation rates in the latest quarter were at 4.19%, which equates to an annual appreciation rate of 17.83%.
Importantly, this makes Newport one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Vermont, our data show that Newport's latest annual appreciation rate is higher than 80% of the other cities and towns in Vermont.
$242,179
for Vermont
for nation
2,031
$1,203 / per month