Newport Beach Spotlight – Is It as Good as Advertised?

By
Services for Real Estate Pros with InboundREM

Newport Beach, located in Orange County, California, is typically described with outstanding and excessive hyperbole. . . . Learn about the refined appeal of Newport Beach, California. Once you've had a taste of the perfect life, you'll go back for more. Our activities range from sunset cruises and surf instruction to wine tastings and harborfront promenades. . . Newport Beach is made up of ten different communities, each with its own personality, natural beauty, and tale to tell.

 

“Paradise is what we call it.”


It sounds too wonderful to be true, doesn't it? See whether that is the case. . . Is it true or is it not true?

 

Overview of Newport Beach

Orange County's Newport Beach is known for its surfing, beautiful beaches, and recreational harbor. It is located nine miles southwest of Irvine. There are several wealthy seaside communities in this area. . . East: Crystal Cove State Park, north: Costa Mesa, south: Huntington Beach; west: Irvine, north: John Wayne Airport, south: Huntington Beach In the beginning, it was designed for commercial fishing and yachting, as well as for commuters to Long Beach and Los Angeles in California. A top-rated educational system and all sorts of recreational activities make Newport Beach a desirable place to live today.


Population/Demographics and Crime Rate

Nearly 86,000 people live in Newport Beach, with 87% white residents, 7% Hispanic, 7% Asian and 0.7% black residents. The crime rate is quite low, considerably below the national average, and is expected to remain that way.

 

Check out the original neighborhood post at https://beachcoast.com/.

 

Climate

Winters are lengthy and cold. The average temperature year-round is around 87 degrees. You'll get an average of 12 inches of rain each year, much below the U.S. average of 38 inches, and 277 sunny days per year.

 

Economy / Jobs / Income

The local economy and employment market are also robust. Niche describes it as "one of Orange County's economic powerhouses, with an economy focused on innovation, tourism, healthcare, and banking."

 

Housing

Whatever amount you choose to use, the median house value in the area is $2.35 million, or around $1,898,900. The average rent in Los Angeles is $2,290, although it may reach $3,000 in more costly districts.

 

Schools/Education Opportunities

Newport Meas Unified School District, which covers Newport Beach, offers highly ranked schools. There are two public high schools in the city, Corona del Mar High School and Newport Harbor High School, as well as many private schools and 100 colleges within 100 miles, including Chapman University, "one of the state's top private institutions."

 

Neighborhoods

Every neighborhood in Newport Ocean has its own unique flavor. They range from being directly on the beach to being in the middle of everything. For example...

 

Balboa Peninsula - Balboa Peninsula, one of the most cheap areas for renters, is "extremely residential, peaceful, and close-knit." Dean Koontz used to live there.

 

Bayview Terrace - In Newport Center, this is a "families-friendly, inexpensive neighborhood." Construction began in the late 1980s on these 2- to 4-bedroom houses with views of the Back Bay Preserve. Pool, jacuzzi, and basketball courts are all part of this gated community.

 

Linda Isle - Linda Isle, an elite gated island in the Lower Newport Bay region, is one of Newport Beach, California's most desired communities. Linda Isle's 108 houses include large yards and beachfront access. With views of the main channel, West Tip homes are the most costly.

 

Check out the original neighborhood post at https://beachcoast.com/.

 

Entertainment and Dining

Newport Beach and its surrounding areas are filled with exciting activities. Think Newport Beach Pier and Balboa Fun Zone for sailing, surfing, and fun on the piers, but you can also shop at Fashion Island, Pavilions, Trader Joe's, and Macy's.

 

There are several outstanding eateries as well. Let's take a look at just two great examples:

 

Bluewater Grill - If you want to relax on the seaside terrace with a wide selection of sustainable seafood, this local chain is the place for you.

 

The Winery - In addition to its unique regional California cuisine and harbor vistas, The Winery's wide global wine selection makes it a popular destination for locals and tourists alike.

 

Some Important Newport Beach Stats

 

Cost of Living

As a whole, the cost of living in Orange County and Newport Beach appears to be high.


If you look at a typical cost of living index for the United States, you'll find that it's 100. Living expenses are proportionally lower than the national average in cities with a score below 100, and higher and more expensive in cities with scores over 100.


Orange County's overall cost of living is 167.7, somewhat more than California's at 149.9, and far higher than the national average of 100. Orange County's cost of living is broken down into the following segments:

 

Groceries/food – 105.1
Healthcare – 95.9
Housing – 308.2
Utilities – 98.6
Transportation – 115.2

 

Please note that grocery and food are just slightly above the national average, while healthcare and utilities are much below it.

 

California's cost of living index score is 149.9. Newport Beach's overall cost-of-living index score is 353.3. Newport Beach is divided into the following categories:

 

Groceries/food – 114.7
Healthcare – 95.9
Housing – 916.8
Utilities – 86.3
Transportation – 110.8

 

Yes, housing is pricey, but healthcare and utilities are less expensive than in other parts of the country. Taking this into consideration is a worthwhile trade-off.

 

Check out the original neighborhood post at https://beachcoast.com/.

 

Property Taxes

Orange County and Newport Beach have lower property taxes than the national average.


One of the wealthiest counties in the nation is Orange County. Orange County has an average effective property tax rate of 0.69 % and a typical yearly property tax payment of $4,499, which is below both the state and national averages.

 

The following are some averages for a $250,000 house..

 

Nationwide Average – 1.070% of assessed home value, $2,675
California – 0.730% of assessed home value, $1,825
Orange County – 0.690% of assessed home value, $1,725

 

Here are the median house value, median yearly property tax payment, and average effective property tax rate for Newport Beach, California:

 

Median home value – $1,787,300
Median annual property tax – $10,000
Average effective property tax rate – 0.56% (approximately)

 

Particularly when it comes to the effective property tax rate, it's not too bad. Home prices can sometimes make taxes look greater than they actually are, due to their effect on tax rates.

 

Livability Ratings

A+ is the overall livability rating given by Niche.com, as well as the following grades in other livability categories:

 

Public Schools - A+

Housing - C

Family Suitability - A

Crime / Safety - C+

Nightlife - A+

Diversity - B

 

The Verdict . . .

What do you think? Does Newport Beach live up to its reputation? 


Consider just a few of the many advantages of living in Newport Beach: a strong economy, highly ranked public and private schools, inexpensive property taxes, and world-class surfing, boating, and other water sports.


Living costs, which are largely determined by the expense of housing, are the only significant downside.


That may not be a problem, though, if you have a top-notch local real estate agent on your side.

 

Check out the original neighborhood post at https://beachcoast.com/.

 

If you would like to receive a FREE Competitive Market Analysis, contact me today.

 

Let us help you find your perfect home!

 

If you require a Buyer's Agent to represent you during your transaction, please feel free to contact our office at (949) 326-3392. We would be glad to work with you to get the best deal possible for your transaction.

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POSTED BY:

Jacqueline Thompson
(949) 326-3392
1400 Newport Center Drive Suite 100, Newport Beach, CA 92660
Surterre Properties, Inc.

https://beachcoast.com/.

 

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