City of Newark

Homes for Sale in the City of Newark Delaware

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History of the City of Newark Delaware

Newark was granted a charter in 1758, but there were settlers in Newark prior to its official charter.

During the Revolutionary War, British and American forces clashed outside Newark at Battle of Cooch’s Bridge. Some say that the Battle of Cooch’s Bridge was the first time that what is now the United States flag was flown in battle.

A paper mill, the first sizable industrial venture in Newark, opened around 1798.  This mill, eventually known as the Curtis Paper Mill, was the oldest paper mill in the United States until its closing in 1997.

One of Newark’s major sources of employment was a Chrysler Assembly plant built in 1951. Originally constructed to build tanks for the US Army, the plant was 3.4 million square feet in size. The plant stood for more than 50 years, providing jobs and revenue to the state of Delaware.

The property is now being developed by the University of Delaware and known as the STAR (Science, Technology, & Advanced Research) campus.

Housing Statistics

The median estimated home value is $223,000, slightly above both New Castle County, and State of Delaware.

Home values have increased 1.5% in Newark.  This compares well to both the County at .6% and the State at .5%.  The median home is 37 years old.  55% of homes are owned and 45% are rentals.

Price Range of homes Sold in Newark Delaware in the last 6 months

• 34 of homes sold were greater than $260,000
• 14 are between $240,000 and $260,000
• 3 were between $220,000 and $240,000
• 9 are between $200,000 and $220,000
• 7 were between $180,000 and $200,000
• 11 were between $160,000 and $180,000
• 12 were between $140,000 and $160,000
• 31 were less than $140,000

The highest number of home sold were less than 1200 square feet.

Age of Homes Sold

• 20 of the homes sold were over 60 years old
• 12 of the homes sold were between 50-60 years old
• 18 of the homes sold were between 40 and 50 years old
• 11 of the homes sold were between 30 and 40 years old
• 43 of the homes sold were between 20 and 30 years old
• 9 of the homes were between 10 and 20 years old
• 7 were less than 10 years old

Number of Bedrooms in Homes Sold

• 40 of the homes sold had 4 bedrooms
• 62 of the homes sold had 3 bedrooms
• 17 had 2 bedrooms and only 1 had 1 bedroom

The City of Newark and The University of Delaware

 

In 1743, a school was founded in New London Pennsylvania.  It moved in 1765 and became the Newark Academy.  Three of its first graduates went on to become signers of the Declaration of Independence.

In 1833, the State of Delaware granted a charter to a new school which was named Newark College.  The following year Newark College and Newark Academy joined together and became Delaware College.  Officially, Delaware College became the University of Delaware in 1921.  It finally became a co-ed college in 1945, when it merged with the Womens College of Delaware.

Today the city of Newark and the University of Delaware often cooperate on social functions, business, and city planning.

With over 22,000 students and numerous faculty and other employment, the University of Delaware also has a major impact on the economy of Newark Delaware.

Newark Population and Demographics

The city of Newark population is 32,300 and has increased by 13% since 2000.  The median age is 23 years old.  28% of the population has a Bachelor degree and 26% has a post-graduate degree.  These rates are both higher than County, State and National rates.

City of Newark Economic Statistics

Newark’s per capita income is $23,675 and the median household income is $53,125.  The unemployment rate is 5.3%, above the County, State and National rate.

The majority of employment comes from education with Education accounting for almost 3 times the next occupation.

• Education
• Retail Trade
• Health Care and Social Assistance
• Accommodation and Food
• Professional, Scientific and Technical
• Finance and Insurance
• Manufacturing
• Other
• Arts, Entertainment and Recreation
• Public Administration
• Administrative Support and Waste Management
• Construction
• Transportation and Warehousing
• Wholesale Trade
• Real Estate, Rental and Leasing
• Utilities
• Agriculture, Forestry, Fishing and Hunting
• Business Management