Similar to the surrounding areas, it is a bit more expensive compared to the entire country. Compared to the city of Philadelphia however, it is significantly more expensive.
Home prices
The median home in Newark is valued at $277,800. In comparison to nearby areas it is is very similar.Compared to the entire nation it is about $60,300 (27%) higher, and it is roughly $114,800 (70%) higher compared to the city of Philadelphia.
Rents
The median rent in Newark is $1,308 a month. This is roughly $120 (8%) lower compared to its surrounding areas.In comparison to the country as a whole it is about $246 (23%) higher, and it is about $266 (25%) higher in comparison to the city of Philadelphia.
Nearby places
Brookside
Brookside is Newark's neighbor to the east. Real estate prices there are significantly less expensive. Brookside's median home value is $197,200, which comes out to $80,600 (40%) lower than Newark. Rents there are fairly similar. In Brookside the median rent is $1,260 per month, which works out to $48 (3%) lower than Newark.
Pike Creek Valley
Pike Creek Valley is approximately 4 miles northeast from Newark. Its real estate prices are a little less expensive. The median home in Pike Creek Valley is valued at $252,400, which is $25,400 (10%) lower than Newark. The rent there is a little less expensive. In Pike Creek Valley the median rent is $1,229 a month, which works out to $79 (6%) lower than Newark.
Glasgow
Glasgow is roughly 5 miles south from Newark. Real estate prices there are pretty similar. The median home cost in Glasgow is $274,000, which is $3,800 (1%) lower than Newark. Rent there is a bit more expensive. In Glasgow the median rent is $1,377 a month, which works out to $69 (5%) higher than Newark.
Bear
Bear is about 5 miles southeast from Newark. Its housing prices are a lot less expensive. Bear's median home cost is $209,700, which works out to $68,100 (32%) lower than Newark. Its rents are a little more expensive. The median rent in Bear is $1,391 a month, which is $83 (5%) higher than Newark.
North Star
North Star is about 5 miles north from Newark. Its real estate prices are a lot more expensive. The median home price in North Star is $445,900, which works out to $168,100 (37%) higher than Newark. The rent there is a bit more expensive. North Star's median rent is $1,882 per month, which works out to $574 (30%) higher than Newark.
