The typical owner-occupied home in Newark is worth about $137,500, 52% below the Texas median of $283,800 and 59% below the national median of $332,700. Owners pay a median $2,152 a year in property taxes, about 1.57% of their home's value, close to the Texas rate of 1.49%. The median household earns $77,344 a year, so the median home costs 1.8 times the median income (3.6 times for Texas). 77% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Newark at a glance
| Newark | Texas | U.S. | |
|---|---|---|---|
| Median home value | $137,500 | $283,800 | $332,700 |
| Median property tax paid per year | $2,152 | $4,232 | $3,119 |
| Property tax as a share of value | 1.57% | 1.49% | 0.94% |
| Median household income | $77,344 | $78,476 | $80,734 |
| Homes lived in by their owners | 77% | 63% | 65% |
| Owner homes with a mortgage | 57% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $2,767 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 21.6% | 21.7% | 21.0% |
| Median rent | $1,143 | $1,403 | $1,413 |
| Rent as a share of renters' income | 29.4% | 30.9% | 30.6% |
| Median year homes were built | 1995 | 1992 | 1980 |
| Vacant homes | 20.5% | 9.4% | 10.1% |
| Population | 1,177 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Newark
At this week's average 30-year rate of 7.11%, buying the median Newark home of $137,500 with 20% down costs about $977 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,206, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $41,879 for the 20%-down payment. That payment is 15% of the median Newark household income of $77,344; at that income and 20% down, the 28% guideline points to a home of about $254,000.
The median rent here is $1,143 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $27,500 |
|---|---|
| Loan amount | $110,000 |
| Principal and interest | $740 |
| Property taxes (1.57% a year) | $180 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| PMI | $0 |
| Total per month | $977 |
Change the numbers in the calculator
| Down payment | $4,812 |
|---|---|
| Loan amount | $135,010 |
| Principal and interest | $908 |
| Property taxes (1.57% a year) | $180 |
| Homeowners insurance (our estimate, 0.5% a year) | $57 |
| FHA mortgage insurance | $61 |
| Total per month | $1,206 |
Change the numbers in the calculator
Questions about home buying in Newark
What is the median home value in Newark?
About $137,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newark?
Homeowners pay a median $2,152 a year, which is about 1.57% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Newark?
For the median home with 20% down at 7.11%, the payment is about $977 a month. Keeping that under 28% of gross income takes about $41,879 a year.
More about Newark
- Mortgage Refinance in Newark
- Debt Relief in Newark
- Home Equity Loans in Newark
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data