Newark Home Values Rising Fast In These 5 Neighborhoods: Study

NEWARK, NJ — What neighborhood in Newark has seen the highest growth in home values since 2012? According to a recent study, if you live in Lower Roseville, your real estate fortunes are on the rise.

Earlier this week, real estate data provider PropertyShark released a study that ranks the Newark neighborhoods with the greatest growth in median home sale prices between 2012 and 2017. Condos, co-ops, single- and two-family homes were considered. Learn more about the study and methodology here.

Lower Roseville ranked first on their list, with a median sale price of $165,100, up $75,100 since 2012. Here’s what PropertyShark has to say about the neighborhood:

“Located in the historical West Ward neighborhood and ranking first on our list, Lower Roseville is Newark’s fastest-rising neighborhood compared to 2012. The median sale price here increased by $75,100, and reached $165,000 at the end of Q3 2017. This 2,848-square-foot home at 237 5th Street in Lower Roseville is living proof of how the market has grown in the area. The five-bedroom property features an asking price of $158,000, and offers easy access to public transportation, restaurants and shopping centers.”

Here were the next four neighborhoods on their list:

#2 - North Ironbound - Median sale price of $260,000 (up $75,000)

#3 - Mount Pleasant - Median sale price of $177,500 (up $73,350)

#4 – Upper Roseville - Median sale price of $240,000 (up $70,000)

#5 - South Ironbound - Median sale price of $278,500 (up $61,500)

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