Newark, NJ Foreclosed Homes & Properties

Foreclosure Homes for Sale in Newark, NJ: Everything You Need to Know

Newark has a cost of living that is 22% higher than the national average. Housing expenses are about 52% higher, and utilities are 14% higher than the average nationwide. Below is a breakdown of the average monthly costs that Newark residents incur.

• Median Home Price: $526,399
• Average Monthly Rent: $1,649
• Electricity bill: $190 
• Phone bill: $203
• Gas: $2.83 a gallon
• Food & Groceries: 5% higher than the national average
• Healthcare: 2% lower than the national average
• Combined Sales Tax: 9.75%

Know Your Neighborhoods  

Scoring an 8.5 out of 10, North Ironbound is the best neighborhood to live in Newark, NJ. The community is predominantly Spanish and Portuguese, making for a diverse culture and delicious cuisine. This area has tons of restaurants and bars, various art galleries, and many local shops.  

Forest Hill is a suburban haven located in the North Ward. Families will love this area as it sits beside a 360-acre public park. You can enjoy historic bridges, beautiful water features, and massive gothic-style architecture.  

Some of the city's safest neighborhoods with the lowest crime rates are Upper Roseville, Weequahic, and Lower Vailsburg. You may want to do some research on living in the most affordable areas, as these neighborhoods have higher crime rates. Some of these affordable places are Springfield-Belmont, South Broad Street, West Side, and Fairmuont.  

Getting Around Newark 

The Newark Liberty International Airport is just five minutes from downtown. Six major highways offer access in and out of the city. The NJ Turnpike runs north and south on the eastern edge of Newark. I-78 and U.S. Route 22 run east and west on the southern border of Newark and borders the airport. Route 21 is the primary artery in Newark that stretches from the airport right through the heart of downtown. The Garden State Parkway has many exits that connect to downtown, various neighborhoods, the airport, and seaport. 

The New Jersey Transit Bus Operations has 247 bus routes that service the state. Additionally, you can ride the subway that will take you to various places throughout the city. Commuter trains are also available to transport visitors and residents. Newark’s public transit system is considered to be amongst the best in the U.S. 

Things to Do in Newark

An excellent place to spend the day is in the Ironbound District. This multi-ethnic community stretches over 4 square miles and has many places to eat and shop along with entertainment venues. The Newark Symphony Hall is a historical place where iconic music and live theatre are performed. 

For a fun experience, you should visit the Prudential Center. This multi-purpose indoor arena holds concerts, sporting events, and other community events.  

The 5th largest church in the U.S. is the Cathedral Basilica of the Sacred Heart and is a breath-taking sight showcasing Catholic architecture and art.  

Some 'can't miss’ festivals in Newark include the Lincoln Park Music Festival (July), the Essex County Cherry Blossom Festival (April), and the Brazilian Day Festival that brings over 300,000 people to the city.