Much like other places in this area, it's a bit less expensive compared to the rest of the nation. It is a bit less expensive compared to the city of Chicago.
Home prices
The median home in Newark is valued at $192,600. In comparison to other places in this area it is approximately $4,720 (2%) higher.It is roughly $24,900 (11%) lower in comparison to the country as a whole, and it is approximately $65,400 (25%) lower in comparison to the city of Chicago.
Rents
The median monthly rent in Newark is $675. In comparison to the surrounding areas this is approximately $348 (34%) lower.It is roughly $387 (36%) lower compared to the entire nation, and in comparison to the city of Chicago it is roughly $437 (39%) lower.
Nearby places
Millington
Millington is roughly 1 mile northwest of Newark. Its housing prices are somewhat less expensive. The median home value in Millington is $175,400, which works out to $17,200 (9%) lower than Newark. The rent there is a bit more expensive. In Millington the median rent is $747 a month, which is $72 (9%) higher than Newark.
Sheridan
Sheridan is roughly 4 miles west from Newark. The real estate prices there are a bit less expensive. The median home cost in Sheridan is $148,600, which comes out to $44,000 (29%) lower than Newark. Rent there is significantly more expensive. In Sheridan the median rent is $1,008 a month, which works out to $333 (33%) higher than Newark.
Millbrook
Millbrook is about 4 miles north of Newark. Its real estate prices are a bit more expensive. Millbrook's median home cost is $252,300, which is $59,700 (23%) higher than Newark. The rent there is a lot more expensive. The median monthly rent in Millbrook is $1,038, which comes out to $363 (34%) higher than Newark.
Lake Holiday
Lake Holiday is roughly 6 miles northwest of Newark. The housing prices there are similar. The value of the median home in Lake Holiday is $196,800, which works out to $4,200 (2%) higher than Newark. Rents there are significantly more expensive. The median rent in Lake Holiday is $1,472 a month, which comes out to $797 (54%) higher than Newark.
Lisbon
Lisbon is roughly 6 miles southeast from Newark. The real estate prices there are a little less expensive. The median home in Lisbon is valued at $166,300, which works out to $26,300 (15%) lower than Newark. Rent there is somewhat more expensive. Lisbon's median monthly rent is $850, which is $175 (20%) higher than Newark.
