Newport City, Kentucky 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 Newport City, Kentucky rental market.
Newport City, Kentucky
Average Apartment Rent
$1,369
Y-o-Y Change in Average
Apartment Rent
-4.3%
As of November 2024
Compared to a year ago, Newport City, Kentucky apartments have recorded a -4.3% rent decrease.
Newport City, Kentucky Average apartment rent trend
Newport City, Kentucky Average Apartment Rent
Newport City, Kentucky Apartment rent ranges
At 41.14%, apartments priced $1,000 - $1,500 represent the bulk of Newport City, Kentucky rentals, while condos priced Over $2,000 hold the lowest share of the market – 5.9%.
Newport City, Kentucky Housing tenure**
Renters take up 50% of Newport City, Kentucky real estate, occupying a total of 3,354 units, while homeowners live in 3,310 properties.
Median number of rooms of renter-occupied housing units**
3.4
Renter median household income**
$24,969
Average household size of renter-occupied housing units**
1.6
Rental vacancy rate**
8.6%
Newport City, Kentucky Renter-occupied housing units by no. of bedrooms**
There are 1,724 rentals in Newport City, Kentucky with 1 bed making up the highest share of the market, at 51%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 133 units. Overall, the median number of rooms in Newport City, Kentucky homes for rent is 3.4.
Newport City, Kentucky Renter-occupied units by age of householder**
Most condos for rent in Newport City, Kentucky are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 65 - 74 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Newport City, Kentucky Renter-occupied housing units by family type**
Newport City, Kentucky Renter-occupied housing units by the presence of own children**
A total of 782 apartments for rent in Newport City, Kentucky, or 23% of all rentals are family households. Additionally, 14% of rental homes include children under the age of 18 – that’s 471 units. All in all, the median size of a renter-occupied household in Newport City, Kentucky is 1.6.
Newport City, Kentucky Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 19% of the rental market. In contrast, residents with less than a high school degree reside in 24% of the homes for rent in Newport City, Kentucky.
Newport City, Kentucky Renter-occupied units by year structure built**
The highest share of Newport City, Kentucky apartment rentals, namely 32% or 1,061 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (14%, 456 units), and the ones Built 2000 - 2009 (11%, 381 units).
Newport City, Kentucky Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Newport City, Kentucky renters (44%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Newport City, Kentucky condos for rent is 2017.
Newport City, Kentucky Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Newport City, Kentucky renters have 1 vehicle available per household, 32% of them have No vehicle available, and 14% have 2 vehicles available.
Newport City, Kentucky Means of transportation to work of householders living in renter-occupied housing units**
Newport City, Kentucky Geographical mobility in the past year for householders living in renter-occupied housing units**
Newport City, Kentucky 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 Newport City, Kentucky 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