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According to statistics, the population in Newark, NJ amounts to 282,102, which shows decline -1% compared to the previous year. The median age of the city’s residents is 34. The average household income is $37,642, shifting growth 7% from the past year, and the average property value in Newark, NJ growth 7% to $251,800 throughout the year.
|Number Of Employees||128,606|
|Median Property Value||$251,800|
The average household income in Newark, NJ grew from $35,167 to $37,642 in the past year. This data is an estimate based upon 101,689 households in Newark, NJ . The chart below presents how household income is distributed in Newark, NJ in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Newark, NJ shifted from $235,000 to $251,800 throughout the year. The subsequent graph indicates the share of properties in the given price range in Newark, NJ in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Newark, NJ properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Newark, NJ compared to median property taxes around the country. The prevalent amount of property taxes in Newark, NJ equals $3000, which is less than the national average.
|Apartment Size||May||vs Last Month|
|2 bed apartments||$231,997||N/A|
|3 bed apartments||$335,000||+56.5%|
|4+ bed apartments||$344,450||-1.5%|
During May 2021, the average price for an apartment in/near Newark, NJ increased by 11.4% to $342,560.
Asking price for 2-bed apartment remains the same, a place of this size will still cost you $231,997. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $335,000. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $344,450 for a big-family home.
|Listing Type||May||vs Last Month|
|Apartments for sale||$394,500||+25.4%|
|Condos for sale||$229,000||N/A|
|Houses for sale||$307,933||N/A|
While assessing the property pricing Newark, NJ, you can note that it remains flat with a price tag of $394,500. According to statistics, average house is still $307,933 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $229,000.
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