Newport Beach Real Estate
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This is an overview of the Newport Beach real estate market. It is intended as a resource for investors and other home buyers when researching Newport Beach homes for sale.
The information is compiled from many sources, and will be updated every 3 months, however, some of the sources drawn from may be a few years older.
Last updated 3/15/2010.
OVERVIEW
Newport Beach is located in Orange County in Southern California. The area code is 949 and the zip codes include 92658, 92659, 92660, 92661, 92662 and 92663. The population is around 73,000 and the area covers 14.8 square miles.
Compared to the rest of California, Newport Beach has higher home values and higher income. Also, the median age is higher, while the age of homes is younger. Education levels are higher also.
Click here for more info in the Newport Beach Vacation Guide.
MEDIAN HOME PRICE
The median sale price according to Zillow is $1,250,000 and according to Cyberhomes is $1,000,000.
PROPERTY TAXES
The median property taxes for houses with a mortgage are around $8818.
RENTS
The median gross rent is $1927.
RENTERS VS. HOMEOWNERS
Around 40% are renters and 14% of homes are vacant.
MEDIAN INCOME
The median household income is $116,000.
THE HOUSES
Most of Newport Beach real estate was built in the 1970's's, with the next largest group being built in the 1960's. The third largest group was built 1950's.
JOBS
The most common 3 occupations include professional, educational and health care. There was 9.6% unemployment as of February 2010.
COMMUTING
The average time for commuters to get to work is 27 minutes. Approximately 7% work from home.
THE PEOPLE
Ethnic makeup in this area is mostly white non-hispanic at 89%. Of the 11% foreign born residents, most are from Iran, Canada and the UK.
EDUCATION
59% have a bachelor's degree or higher, while 21% have a graduate or professional degree.
THE WEATHER
Temperatures range from 72 in summer to 47 degrees Fahrenheit in winter. There are usually 33 days of precipitation and you can expect about 278 sunny days per year. Rainfall is x11 inches annually.
CRIME
Crime tends to be lower than the national average.
DISCLAIMER: All information is obtained amd combined from multiple sources but we cannot guarantee their accuracy.
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