Homes for Sale in Newark, OH: What You Need to Know
The city of Newark, founded in 1802, considers itself small-town America and is filled with a rich history of industry and business. The area drew many established companies like Holophane, Heisey, and Owens Coming Fiberglass because they had resources like iron, oil, glass, and silica. In the town square, you can find preserved Midwestern architecture and small, family-run businesses that have been around for generations.
The Cost of Living in Newark
Newark real estate is more affordable on average than the rest of the country. Overall, the cost of living in Newark is 16% less than the national average, and 4% less than the Ohio average. One of the main factors in this figure is the cost of housing, which is 38% less than the U.S. average. Utilities cost significantly less as well, along with transportation and groceries being lower than the nation’s median prices. It also helps that Ohio is the 18th best state for overall healthcare access and affordability, which explains why Newark’s healthcare costs are 8% less than the national average.
Schools and Education
The public school district, Newark City School District, is the largest in the county and serves approximately 6,500 students across seven elementary schools, three middles, one high school, and a digital academy. You can send your child to Newark High School or attend a co-ed private school like the Newark Catholic High School. It has about 256 students and a 13:1 student-to-teacher ratio and was ranked the 2nd best private high school in Licking County by Niche.com. After high school, you can stay in Newark and attend one of their two-year colleges, The Ohio State University at Newark or Central Ohio Technical College.
Job Opportunities in Newark
The job market is expanding in Newark, and future job growth over the next ten years is predicted to be 35.5%, which is higher than the U.S. average of 33.5%. The city is home to the regional headquarters of State Farm Insurance, and Park National Bank Corporation, an $8.7 billion bank holding company, is headquartered in downtown Newark. The largest industries in the area are Health Care & Social Assistance, Retail Trade, and Manufacturing. The highest-paying fields are Utilities, Information, and Finance & Insurance.
The Local Population
With a population of 51,111, Newark is the 16th largest city in Ohio. The area spans over 21 miles and has a population density of 2,447 people per square mile. Overall, the city is growing at a rate of 1.07% annually and has increased by 7.44% since the last census in 2010. The median age in Newark is 37-years-old, which is 6% lower than Ohio. Fifty-five percent of residents own their homes, the average family size is 3.08, and the median household size is 2.41. Newark’s demographic makeup is 92% White, 3% Black or African American, and 2% mixed race.