If you’ve spent any amount of time traveling by air around the eastern edge of the United States, chances are you’ve already been to Newark, New Jersey, several times. Newark’s Liberty International Airport is a major hub for connecting flights around the country.
Newark is a city of just under 300,000 people. This little cousin to the Big Apple is under 10 miles away from New York City and has phenomenally lower rents and home prices. This makes Newark a population destination for parents and individuals who work in New York, college students and families who like the vibe of the big city but prefer a less frenetic backdrop.
The Newark Housing Market
If you’re thinking of buying a home in Newark, it’s important to know that property values and sales listings are steadily increasing. There are approximately 500 to 600 homes for sale in Newark, with a median list price of $265,000. However, the median sale price varies significantly by neighborhood. The hip North Ironbound neighborhood averages $399,000, while cheaper homes in the Springfield – Belmont area go for $155,000 on average.
Newark, New Jersey Highlights
What makes Newark a great place to live? Here are some standout features:
- Diversity: Like New York City, Newark is a melting pot of different cultures, languages, and cuisines.
- Arts and entertainment: Newark is a magnet for people who love great art, culture, and music. Not only is the New Jersey Symphony Orchestra located here, but there are also endless hotspots to check out live jazz.
- Lots of transportation: Newark Liberty International Airport, Penn Station, PATH trains and light rail stations all connect you to just about anywhere quickly.
What To Know When Searching for a Home in Newark
Higher-cost homes are frequently located in neighborhoods with a reputation for safety, such as North Ironbound, Lower Vailsburg, South Ironbound, Forest Hill, and Upper Roseville. These areas also feature excellent education, attractive parks, numerous restaurants, and shopping centers.
Newark has over 200 schools and private educational institutions. Four prominent universities are nearby: Rutgers University-Newark, Essex County College, New Jersey Institute of Technology and Keane University.