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 184,306 people, 75,465 houses or apartments, and a median cost of homes of $283,217, Newport News real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Newport News, accounting for 49.59% of the city's housing units. Other types of housing that are prevalent in Newport News include large apartment complexes or high rise apartments ( 31.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.37%), and a few row houses and other attached homes ( 8.24%).
The most prevalent building size and type in Newport News are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.71% owning and 54.29% renting.
There is a lot of housing in Newport News 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 News built between 1940-1969 ( 29.05%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.27%). There's also some housing in Newport News built before 1939 ( 4.75%).
Newport News's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newport News during the period has been just 5.32%, which is lower than 70% of US communities.
Over the last year, Newport News appreciation rates have trailed the rest of the nation. In the last twelve months, Newport News's appreciation rate has been 4.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newport News were at 2.20%, which equates to an annual appreciation rate of 9.09%.
Relative to Virginia, our data show that Newport News's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Newport News differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Newport News - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Newport News real estate investment or home purchase decisions.
$283,217
for Virginia
for nation
75,465
$2,059 / per month