Housing in Newark

A typical Newark home is worth roughly $289,000

Home prices around Newark have risen about 60% over the past 5 years.

Typical home value

$289K

▲ 13.6% in a year · MI $266K

Estimate

2-bedroom rent

$970

a month, utilities in · HUD

Median tax bill

$1,945

MI $2,904

What kind of housing town is Newark?

Read from the numbers below. The page puts what stands out first.

Prices climbing fastUp 13.6% in a year.

★ What stands out · Price trend

Home prices up 60% in 5 years

The federal house price index for the ZIP codes around Newark rose 60% over the past 5 years, faster than across Michigan (52%). Last year prices rose 14%. Carrying the Census median home value forward with that index puts the typical Newark home at roughly $289,000 today.

Newark areaMichigan

+14%

past year

+60%

past 5 years

+88%

past 10 years

Estimated value

Carrying the Census median forward with the index puts a typical home at about $289K.

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Newark, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Affordability

A typical home costs 3.9 years of income

About the same as across Michigan. Try your own numbers below.

You could afford about

$295,000

Typical Newark home $289K

That covers a typical Newark home, with $6K to spare.

The typical home, each month

$1,720

Loan $1,430Tax $200Insurance $80

A two-bedroom rents for about $970 a month here, $750 less than owning.

Where your budget reaches nearby

New Haven$208K Ithaca$199K Fulton$268K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Newark’s typical property tax (0.83% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $970

Renters already here pay a median of $838, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$690

1 bedroom$740

2 bedrooms$970

3 bedrooms$1,300

4 bedrooms$1,460

13%

of households rent · MI 27%

renter households

51%

of renters spend 30%+ of income on rent · MI 50%

16%

of the median income, for a two-bedroom

$838

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Gratiot County, MI): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

The homes

87% of Newark households own their home

Half of Newark’s homes were built before 1968.

Owners and renters

Own 87%Rent 13%

Michigan: 73% own.

1968

typical home built · MI 1972

$1,945

median property tax bill · MI $2,904

0.83%

of a home’s value, a year in tax · MI 1.25%

U.S. Census Bureau, American Community Survey 2020-2024.

Next door

Newark vs. its neighbors

Newark is the priciest of 4 neighboring towns. Tap one to see its housing page.

Newark$289K Fulton$268K New Haven$208K Ithaca$199K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2015	Median income
Newark	$289K*	+13.6%†	$970	—	$74,750
New Haven	$208K*	—	$1,030	—	$70,192
Ithaca	$199K	+8.2%	$970	0	$63,109
Fulton	$268K	+9.4%	$1,120	—	$84,934

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Newark buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Newark still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.