Newark, NJ Real Estate
According to census data in the year 2000 there were 100,141 housing units in Newark.
This represents a 2.3% decline from 102,473 in 1990.
Of those housing units, 100,141 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Newark is about 23.8%.
Newark's vacancy rate, including seasonal lodging, is about 8.7%.
Average household size is 2.85 people.
The majority of houses, apartments or condos in Newark were built after 1953.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 5.30% |
| One Bedroom | 27.20% |
| Two Bedrooms | 36.20% |
| Three Bedrooms | 22.40% |
| Four Bedrooms | 5% |
| Five Bedrooms or more | 4% |
Owned Homes, Apartments and Condos
| Average Household Size | 3.47 |
| Median year structure was built | 1943 |
| Median Value of occupied units | $119,000 |
| Median Price asked for vacant units | $111,100 |
Rented Homes, Apartments and Condos
| Average Household Size | 2.66 |
| Median year structure was built | 1956 |
| Median Monthly Rent asked for vacant units | $530 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.50% |
| Second Mortgage | 8.30% |
| Home Equity Loan | 6.40% |
| Simple Mortgage | 57.80% |
| Debt Free | 27% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 24.7% |
