If you are looking to market to a specific population in Newbury, Massachusetts, you will want to know about its population, income levels and homeownership rates. You can also see if it is a good demographic to target, based on statistics like these. To find out more, read our Population & Steets in Newbury City article. This will give you more information on the area you're targeting.
Although the city has a growing population, housing prices in Newburyport remain high. According to the ACS, the median value of all owner-occupied homes in the city is $435,000, compared to $330,000 statewide and $350,000 for Essex County. The difficulty of finding affordable housing is another issue facing many Newburyport residents. The city's residents are finding it difficult to get financing because housing costs continue to rise.
The number of renter households in Newburyport has increased significantly over the past three decades. Among those renters, over half earn less than $50,000 a year. This is a troubling trend, as it reflects the lack of affordable housing in the city. Approximately one third of households in the lowest income bracket are considered cost burdened, meaning that they spend 30 to 50 percent of their income on housing. This means that at least 824 renters in the city are spending more than they can afford.
The town's main thoroughfare, Newbury Street, has an interesting history. It has been a center for transportation for years, beginning as stables in the late 1800s and becoming a main intersection for automobiles in the early 1900s. Today, it's mostly residential, but still boasts some fine examples of antique architecture. You can see the city's history and culture on this page.