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 4,403 people, 1,988 houses or apartments, and a median cost of homes of $267,571, Newport real estate values are some of the lowest in Vermont, although compared to real estate around the nation, Newport homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Newport, accounting for 60.01% 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 ( 25.72%), large apartment complexes or high rise apartments ( 11.58%), and a few mobile homes or trailers ( 1.80%).
The most prevalent building size and type in Newport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.43% owning and 46.57% renting.
The housing in Newport was primarily built before 1939 ( 35.00%), making the housing stock in Newport some of the oldest overall in America, although there is a range of ages of homes in Newport. The next most important housing age is between 1970-1999 ( 34.24%), followed by between 1940-1969 ( 23.75%). There's also some housing in Newport built between 2000 and later ( 7.01%).
Vacant housing appears to be an issue in Newport. Fully 16.58% 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 90.91%, which ranks in the top 50% nationwide. This equates to an annual average Newport house appreciation rate of 6.68%.
NeighborhoodScout's data show that during the latest twelve months, Newport's appreciation rate, at 5.77%, has been at or slightly above the national average. In the latest quarter, Newport's appreciation rate has been 4.63%, which annualizes to a rate of 19.86%.
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 lower than 70% of the other cities and towns in Vermont.
$267,571
for Vermont
for nation
1,988
$1,459 / per month