Home prices
The median home price in Newark is $245,200. In comparison to other places in this area this is approximately $54,480 (18%) lower.It is about $27,700 (12%) higher compared to the rest of the nation, and it is about $360,800 (59%) lower in comparison to the city of New York.
Rents
The median rent in Newark is $1,085 per month. Compared to nearby areas it is about $208 (16%) lower.It is about $23 (2%) higher in comparison to the rest of the country, and compared to the city of New York it is roughly $358 (24%) lower.
Nearby places
Harrison
Harrison is Newark's neighbor to the northeast. Its real estate prices are a bit more expensive. The median home in Harrison is valued at $333,700, which is $88,500 (26%) higher than Newark. The rent there is a little more expensive. In Harrison the median monthly rent is $1,504, which comes out to $419 (27%) higher than Newark.
East Newark
East Newark is Newark's neighbor to the north. The housing prices there are a little more expensive. The median home in East Newark is valued at $299,700, which works out to $54,500 (18%) higher than Newark. The rent there is a bit more expensive. The median rent in East Newark is $1,312 per month, which comes out to $227 (17%) higher than Newark.
Kearny
Kearny is Newark's neighbor to the northeast. Its real estate prices are somewhat more expensive. The cost of the median home in Kearny is $333,100, which comes out to $87,900 (26%) higher than Newark. Its rents are somewhat more expensive. Kearny's median monthly rent is $1,304, which works out to $219 (16%) higher than Newark.
East Orange
East Orange is Newark's neighbor to the northwest. The real estate prices there are a little less expensive. The value of the median home in East Orange is $219,300, which works out to $25,900 (11%) lower than Newark. Its rents are pretty similar. The median monthly rent in East Orange is $1,114, which comes out to $29 (2%) higher than Newark.
Silver Lake
Silver Lake is Newark's neighbor to the north. Real estate prices there are a little more expensive. Silver Lake's median home cost is $312,600, which works out to $67,400 (21%) higher than Newark. Rents there are a bit more expensive. Silver Lake's median rent is $1,231 a month, which works out to $146 (11%) higher than Newark.
