Quick facts: Newport beach, CA

Quick Facts

127.6
Cost of Living
above US average
83,993
Population
22.69
Crime Rate per 1000
below US average
$149,471
Median Income
above US average
$3,170,000
Median House Price
above US average
$2796
Average Rent
above US average
6%
Poverty Rate
below US average
3.5%
Unemployment Rate
below 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 $149,471.

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Income Needed to Buy

βœ— Stretch
$994k/year
Based on $3,170,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $994k vs median $149,471
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Income Needed to Rent

βœ“ Affordable
$120k/year
Based on $2796/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($149,471) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Newport beach, CA

Newport Beach is a charming coastal city located in Orange County, California. Known for its stunning beaches, upscale lifestyle, and vibrant community, it offers a perfect blend of relaxation and sophistication. The city boasts a beautiful coastline, featuring popular spots like Balboa Peninsula, Corona del Mar, and Crystal Cove State Park, attracting beachgoers, surfers, and nature lovers alike. The city's iconic Balboa Island is known for its quaint shops, eateries, and picturesque waterfront views. Newport Harbor, one of the largest recreational harbors in the U.S., is a hotspot for boating and water sports. The area is also home to an array of high-end boutiques, restaurants, and art galleries, especially in the upscale Fashion Island shopping center. Outdoor enthusiasts will appreciate the city's numerous parks and recreational activities, including golf courses, beach volleyball, and hiking trails. Newport Beach is also renowned for its luxury homes and upscale lifestyle, making it a desirable location for both residents and visitors. The annual Newport Beach Film Festival and various cultural events add to the city's vibrant scene, making Newport Beach a blend of coastal beauty and cultural richness.

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