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Real Estate Prices & Overview

Newburg median real estate price is $289,004, which is more expensive than 68.8% of the neighborhoods in Kentucky and 37.6% of the neighborhoods in the U.S.

The average rental price in Newburg is currently $1,413, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.5% of Kentucky neighborhoods.

Newburg is a suburban neighborhood (based on population density) located in Louisville, Kentucky.

Newburg real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Newburg neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Newburg, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Newburg is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

With a real estate vacancy rate of only 0.0%, the Newburg neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

Diversity

Did you know that the Newburg neighborhood has more Cuban and Swiss ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 28.1% of this neighborhood's residents have Cuban ancestry and 1.4% have Swiss ancestry.

Newburg is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 96.3% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Newburg neighborhood in Louisville are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.8% of the neighborhoods in America. With 29.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 80.5% of U.S. neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Newburg neighborhood, 35.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 33.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (15.9%), and 15.1% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Newburg neighborhood is English, spoken by 68.3% of households. Some people also speak Spanish (29.7%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Newburg neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as Cuban (28.1%). There are also a number of people of Irish ancestry (10.6%), and residents who report German roots (8.1%), and some of the residents are also of English ancestry (6.9%), along with some Mexican ancestry residents (5.8%), among others. In addition, 19.7% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Newburg neighborhood spend between 15 and 30 minutes commuting one-way to work (51.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (71.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (17.7%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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