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Newberry

Learn about the people, housing, costs and businesses in Newberry, Michigan

Median Home$87,600
Median Rent$670/month
Population1,817
Leading IndustriesProfessional Services · Public Administration2% professional services
Home Value Growth⬆⬆⬆+37.5% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners78% of occupied units
NotableAffordable Market$88k median home · lower cost than 95% of the country
Newberry
MI

Frequently Asked Questions

What are today's mortgage rates in Newberry?

As of today, the 30-year fixed mortgage rate for Newberry is approximately 7.309% (7.359% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Newberry?

The median home value in Newberry is $88k. The median monthly rent is $670. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Newberry?

Home values in Newberry have increased 37.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Newberry?

Based on a typical all-in ownership cost of $626/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $27k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Newberry is $50k/year.

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What industries drive the economy in Newberry?

The largest employment sectors in Newberry are public administration (26%) and retail (9%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.