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 10,726 people, 3,916 houses or apartments, and a median cost of homes of $172,616, house prices in Newberry are solidly below the national average.
Single-family detached homes are the single most common housing type in Newberry, accounting for 70.75% of the city's housing units. Other types of housing that are prevalent in Newberry include large apartment complexes or high rise apartments ( 13.85%), duplexes, homes converted to apartments or other small apartment buildings ( 7.86%), and a few mobile homes or trailers ( 7.39%).
People in Newberry primarily live in small (one, two or no bedroom) single-family detached homes. Newberry has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Newberry's housing was primarily built during this period, from the '40s through the '60s. A full 38.32% of the city's housing hails from this era. Other housing ages represented in Newberry include homes built between 1970-1999 ( 25.00%) and housing constructed before 1939 ( 22.27%). There's also some housing in Newberry built between 2000 and later ( 14.41%).
Vacant housing appears to be an issue in Newberry. Fully 12.35% of the housing stock is classified as vacant. Left unchecked, vacant Newberry homes and apartments can be a drag on the real estate market, holding Newberry real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Newberry's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Newberry during the period has been just 4.95%, which is lower than 80% of US communities.
Over the last year, Newberry appreciation rates have trailed the rest of the nation. In the last twelve months, Newberry's appreciation rate has been 3.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Newberry were at 0.52%, which equates to an annual appreciation rate of 2.08%.
Notably, Newberry's appreciation rate in the latest quarter is one of the lowest in America.
Relative to South Carolina, our data show that Newberry's latest annual appreciation rate is lower than 80% of the other cities and towns in South Carolina.
$172,616
for South carolina
for nation
3,916
$1,624 / per month