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 3,274 people, 1,562 houses or apartments, and a median cost of homes of $145,421, house prices in Newbern are some of the most affordable in Tennessee as well as the nation.
Single-family detached homes are the single most common housing type in Newbern, accounting for 74.77% of the town's housing units. Other types of housing that are prevalent in Newbern include duplexes, homes converted to apartments or other small apartment buildings ( 22.02%), mobile homes or trailers ( 1.61%).
The most prevalent building size and type in Newbern are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 63.27% owning and 36.73% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Newbern's housing was primarily built during this period, from the '40s through the '60s. A full 36.67% of the town's housing hails from this era. Other housing ages represented in Newbern include homes built between 1970-1999 ( 30.86%) and housing constructed between 2000 and later ( 22.02%). There's also some housing in Newbern built before 1939 ( 10.45%).
Newbern's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newbern during the period has been just 5.42%, which is lower than 80% of US communities.
Over the last year, Newbern appreciation rates have trailed the rest of the nation. In the last twelve months, Newbern's appreciation rate has been 5.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newbern were at 1.29%, which equates to an annual appreciation rate of 5.27%.
Relative to Tennessee, our data show that Newbern's latest annual appreciation rate is lower than 50% of the other cities and towns in Tennessee.
$145,421
for Tennessee
for nation
1,562
$1,215 / per month