Newport City, Kentucky Rental Market Trends

Disclaimer:

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

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Newport $1,133 $1,170 $1,215 $1,324 $1,338 $1,375 $1,431 $1,433 $1,407 $1,369
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Newport
National
Nov 2021
$1,133
$1,596
Mar 2022
$1,170
$1,635
Jul 2022
$1,215
$1,708
Nov 2022
$1,324
$1,726
Mar 2023
$1,338
$1,714
Jul 2023
$1,375
$1,739
Nov 2023
$1,431
$1,733
Mar 2024
$1,433
$1,727
Jul 2024
$1,407
$1,752
Nov 2024
$1,369
$1,748

Newport City, Kentucky Average Apartment Rent

Newport City, Kentucky Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

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**

Renter occupied housing units 3,354
Owner occupied housing units 3,310

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**

No bedrooms 231
1 bed 1,724
2 beds 882
3 beds 384
4 beds 133

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**

15 - 24 years 384
25 - 34 years 894
35 - 44 years 375
45 - 54 years 408
55 - 59 years 211
60 - 64 years 184
65 - 74 years 614
75 - 84 years 172
85 years and over 112

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**

Family households 782
Non-Family Households 2,572

Newport City, Kentucky Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 471
No related children of the householder under 18 2,883

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**

Less than high school graduate 821
High school graduate (including equivalency) 587
Some college or associate's degree 1,299
Bachelor's degree or higher 647

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**

Built 2010 - 2019 252
Built 2000 - 2009 381
Built 1990 - 1999 170
Built 1980 - 1989 305
Built 1970 - 1979 456
Built 1960 - 1969 338
Built 1950 - 1959 232
Built 1940 - 1949 159
Built 1939 or earlier 1,061

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**

Moved in 2021 or later 267
Moved in 2018 to 2020 1,236
Moved in 2010 to 2017 1,480
Moved in 2000 to 2009 275
Moved in 1990 to 1999 41
Moved in 1989 or earlier 55

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**

No vehicle available 1,072
1 vehicle available 1,715
2 vehicles available 458
3 or more vehicles available 109

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**

Car, truck, or van - drove alone 1,558
Car, truck, or van - carpooled 233
Public transportation (excluding taxicab) 119
Walked 254
Worked at home 354

Newport City, Kentucky Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 3,701
Moved within same county 613
Moved from different county within same state 512
Moved from different state 470

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

Check out rentals available in Newport City, Kentucky