Newark, Delaware Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Newark, Delaware rental market.
Highlights
An apartment for rent in Newark, Delaware typically goes for $1,648 per month, while a single-family home for rent in Newark, Delaware has a monthly cost of around $2,378. Renter-occupied units make up 48% of the local housing market, while the rental vacancy rate in Newark, Delaware is at 12.6.
Newark, Delaware
Average Apartment Rent
$1,648
Y-o-Y Change in Average
Apartment Rent
2.4%
Average Single-Family Rent
$2,378
As of November 2024
Compared to a year ago, Newark, Delaware apartments have recorded a 2.4% rent increase.
Newark, Delaware Average apartment rent trend
Newark, Delaware Average Apartment Rent
Newark, Delaware Apartment rent ranges
At 46.66%, apartments priced $1,000 - $1,500 represent the bulk of Newark, Delaware rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.45%.
Newark, Delaware Housing tenure**
Renters take up 48% of Newark, Delaware real estate, occupying a total of 4,402 units, while homeowners live in 4,789 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$33,397
Average household size of renter-occupied housing units**
2.49
Rental vacancy rate**
12.6%
Newark, Delaware Renter-occupied housing units by no. of bedrooms**
There are 1,497 rentals in Newark, Delaware with 2 beds making up the highest share of the market, at 34%. Units with 5 or more beds, on the other hand, hold the lowest percentage (4%), amounting to 166 units. Overall, the median number of rooms in Newark, Delaware homes for rent is 4.2.
Newark, Delaware Renter-occupied units by age of householder**
Most condos for rent in Newark, Delaware are occupied by residents in the 15 - 24 years age group (38%), followed by those in the 25 - 34 years age group (27%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 2%.
Newark, Delaware Renter-occupied housing units by family type**
Newark, Delaware Renter-occupied housing units by the presence of own children**
A total of 1,049 apartments for rent in Newark, Delaware, or 24% of all rentals are family households. Additionally, 11% of rental homes include children under the age of 18 – that’s 469 units. All in all, the median size of a renter-occupied household in Newark, Delaware is 2.49.
Newark, Delaware Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 37% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Newark, Delaware.
Newark, Delaware Renter-occupied units by year structure built**
The highest share of Newark, Delaware apartment rentals, namely 17% or 739 units, were Built 1990 - 1999, followed by those Built 1970 - 1979 (16%, 725 units), and the ones Built 2010 - 2019 (15%, 653 units).
Newark, Delaware Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Newark, Delaware renters (40%) moved in 2018 to 2020, while only 5% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Newark, Delaware condos for rent is 2018.
Newark, Delaware Renter-occupied housing units by vehicles available**
When it comes to transportation options, 35% of Newark, Delaware renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 19% have No vehicle available.
Newark, Delaware Means of transportation to work of householders living in renter-occupied housing units**
Newark, Delaware Geographical mobility in the past year for householders living in renter-occupied housing units**
Newark, Delaware Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Newark, Delaware apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
