Newport Beach, CA is a well-known and luxurious area located in Orange County. The median value of housing there is much higher than the US median value at $2,684,200, indicating that real estate in Newport Beach is expensive. This high cost of living is evidenced by the house appreciation rate over the last year which was 14.68%, significantly higher than the US appreciation rate of 8.27%. Despite this fact, however, Newport Beach remains to be one of the most desirable places to live and work due to its close proximity to beautiful beaches and cultural attractions.
The median home cost in Newport Beach is $2,684,200. Home appreciation the last 10 years has been 109.2%. Home Appreciation in Newport Beach is up 22.3%.
Average Age of Homes
- The median age of Newport Beach real estate is 42 years old
The Rental Market in Newport Beach
- Renters make up 38.9% of the Newport Beach population
- 4.7% of houses and apartments in Newport Beach, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.