Why Live in Downtown Newark
Downtown Newark, set against the Passaic River, is a dynamic neighborhood experiencing significant transformation. Known for its urban lifestyle, it houses Prudential Financial’s headquarters, federal agencies, and key cultural venues. The area boasts a variety of dining options, including the popular Fernandes Steakhouse and the iconic Tops Diner. Whole Foods Market and boutique shops along Broad and Market streets cater to residents' shopping needs. Nearby Ironbound offers a rich Portuguese culinary scene and hosts the annual Portuguese Day festival. Downtown Newark provides more space compared to New York City, with housing styles ranging from condominiums to single-family homes in Colonial Revival, Cape Cod, and modern contemporary designs. The neighborhood has seen a reduction in crime rates due to increased patrols and community initiatives, making it safer than the national average. Cultural and artistic venues such as Military Park, The Newark Museum of Art, and the New Jersey Performing Arts Center contribute to the lively atmosphere. Sports fans can catch New Jersey Devils games at the Prudential Center. Commuting is convenient with major highways like Interstate 287 and Garden State Parkway, numerous bus stops, and a train station, making it a popular choice for those working in New York City. The area offers a range of schools, including several charter schools, though public options like Oliver Street School and Central High School have moderate ratings.
Home Trends in Downtown Newark, NJ
On average, homes in Downtown Newark, Newark sell after 53 days on the market compared to the national average of 52 days. The median sale price for homes in Downtown Newark, Newark over the last 12 months is $359,000, up 7% from the median home sale price over the previous 12 months.
Median Sale Price
$359,000
Median Single Family Sale Price
$834,394
Median Townhouse Sale Price
$415,560
Median 2 Bedroom Sale Price
$364,950
Median 1 Bedroom Sale Price
$225,000
Average Price Per Sq Ft
$240
Number of Homes for Sale
6
Last 12 months Home Sales
7
Median List Price
$360,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
7%