Quick facts: Newark, OH

Quick Facts

96.4
Cost of Living
below US average
50,763
Population
29.53
Crime Rate per 1000
above US average
$56,284
Median Income
below US average
$277,050
Median House Price
above US average
$1222.96
Average Rent
below US average
12%
Poverty Rate
above US average
5.1%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $56,284.

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Income Needed to Buy

βœ— Stretch
$87k/year
Based on $277,050 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $87k vs median $56,284
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Income Needed to Rent

βœ“ Affordable
$52k/year
Based on $1222.96/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($56,284) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Newark, OH

Newark, Ohio, located in Licking County, is known for its rich history and community spirit. Founded in 1802, it serves as the county seat and is home to around 47,000 residents. The city boasts a vibrant downtown area featuring unique shops, restaurants, and cultural attractions, contributing to its small-town charm. One of Newark's most notable features is the Granville Historical Society, celebrating local heritage through museums and heritage sites. The city is also famous for its connection to the Newark Earthworks, a National Historic Landmark recognized for its ancient Native American earthworks, which are among the largest in North America. Outdoor enthusiasts can enjoy several parks and recreational areas, including the scenic Diley Ridge Park and the expansive Newark City Parks system. The nearby river offers opportunities for fishing, kayaking, and hiking. Newark is strategically located near major highways, providing easy access to Columbus and other neighboring cities, making it a convenient spot for commuting and exploring the region. Overall, Newark combines historical significance with modern amenities, making it a welcoming community for residents and visitors alike.

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