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.


Housing Size

Housing Units by Size
Studio Type5.30%
One Bedroom27.20%
Two Bedrooms36.20%
Three Bedrooms22.40%
Four Bedrooms5%
Five Bedrooms or more4%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size3.47
Median year structure was built1943
Median Value of occupied units$119,000
Median Price asked for vacant units$111,100

Rented Homes, Apartments and Condos

Average Household Size2.66
Median year structure was built1956
Median Monthly Rent asked for vacant units$530

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.50%
Second Mortgage8.30%
Home Equity Loan6.40%
Simple Mortgage57.80%
Debt Free27%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs24.7%