Downtown Newark Demographic and Lifestyle Report

Population and Household

The population of the Newark Downtown District grew 7% to 13,589 residents in 2020 (latest available) from 12,579 residents in 2010. Downtown Newark offers residents attractive features with its convenient access to County and Municipal office buildings, major corporations, and Newark’s universities and colleges.  In addition, it includes major cultural institutions and entertainment centers offering a true “live/work/play” address.  Finally, it is a transportation center with two major rail hubs – Newark Penn Station and Newark Broad Street – and one of the metropolitan’s three airports – Newark Liberty International Airport. 

The age distribution highlights a young population between 20 and 44 years old, representing approximately 60% of the population. The data highlights that the downtown is home to young professionals, educators, and students attending Newark’s universities. 

Fig 3. Age Distribution 2010 vs. Present
Source: U.S Census Bureau, ACS Demographic & Housing Estimates 2022 and 2010

Newark’s largest racial groups in 2020 are as follows:

Black residents
40.5%

Hispanic
23.2%

White
18.6%

Other race
(not disclosed)
13.2%

The notable changes in Newark’s racial groups have been an increase in the Hispanic population from 5.7% to 23.2% in 2020 versus 17.5% in 2010, a sizable 5.5% increase in the “Other” category to 13.2% in 2020, from 7.7% in 2010.  On the other hand, the Black or African population declined 4.7% to 40.5% in 2020, versus 45.2% in 2010.  The White population declined 4.3% to 18.6% in 2020, from 22.9% in 2010.  Finally, the Asian population declined 2.8% to 3.9% in 2020, versus 6.7% in 2010.    

Fig.1 Racial Diversity in the Central Business District
Source: U.S Census Bureau, ACS Demographic & Housing Estimates, Year 2020
Fig.2.  Racial Diversity in the Central Business District
Source: U.S Census Bureau, ACS Demographic & Housing Estimates, Year 2010

The demographic data highlights the downtown’s concentration of a younger Black and Brown resident population.

Housing

Fig 4. Housing Tenure 2010 vs 2020
Source: U.S Census Bureau, ACS Demographic & Housing Estimates, 2020 vs 2010

Since 2010, the trend in “owner” versus “renter” has been very static and changed little, with approximately 10% of total units owner-occupied and approximately 90% renter occupied.  We note the core downtown does not have an inventory of single-family homes, and the owner-occupied homes are smaller apartment buildings and the downtown’s historic townhomes.

Apartment construction has centered on the building of new multifamily towers and the renovation of existing commercial buildings, such as the 264-unit Walker House located at 540 Broad Street.  Since 2010, the number of apartment units in the downtown has increased 345% to 2,185 units in 2022, from 634 units in 2010.  The average rent per unit has increased 19% to $2,269 per unit, from $1,900 per unit.

Development activity has accelerated under the Baraka Administration.  Since 2017, rental housing inventory in the core downtown has increased 259% to 2,185 units from 843 units.  The pandemic impacted new construction, where deliveries slowed, with no deliveries in the second half of 2021 and the first nine months of 2022.  The first project to deliver in 2022 was in October, with the completion of the 250-unit Newark Urby located at 155 Washington Street.  Several projects are under construction or in the planning stages.

The core downtown has a total of seven multifamily development projects under construction, with a total of 1,139 units representing an increase in inventory of 52%. In addition, a total of 15 projects are planned, with a total of 8, 407 units. 

Fig 5. Multifamily Development: Source: CoStar; NDD

Beginning in 2018, development deliveries accelerated, which pressured multifamily occupancy.  Newly constructed units began to lease up, but the pandemic temporarily derailed the initial lease up.  In early 2021 a strong recovery started, and occupancy reached close to 97% in the first quarter of 2022.  In the third quarter of 2022, the completion and delivery of the 250-unit Newark Urby added inventory and affected occupancy as the new units lease up.  Two more projects will be completed in 2023 including the 106-unit conversion of the Indigo Residence and the completion of the 370-unit ICONIQ 777, which will pressure occupancy as these projects lease up.

Fig. 6 Multifamily Occupancy: Source: CoStar

Given the strong demand for apartments, rents have increased.  Listed below are rental comparisons for the various apartment types:

Fig. 7 Multifamily Rent Per Unit: Source: CoStar
  • Studio – Increased 10.5% to $1,384 per unit in the first quarter of 2023 from $1,253 per unit in the first quarter of 2016
  • One Bedroom – Increased 11.0% to $1,952 per unit from $1,759 per unit
  • Two Bedroom – Increased 10.5% to $2,478 per unit from $2,243 per unit
  • Three Bedroom – Increased 5.9% to $2,785 per unit from $2,630 per unit

Educational Attainment

From 2010 to 2020 (latest available), the number of residents in the core downtown district with some college increased 3.6% to 45.1% from 41.5%.  The number of residents with an Associate degree increased the most by 5.6% to 8.5% from 2.9%, followed by the number of residents with an advanced degree, which rose 2.8% to 10.1% from 7.3%, while the number of residents with a Bachelor’s degree declined by 4.7% to 12.2%, from 16.9% in 2010.  The increase in residents with some college drove down the number of residents with solely a high-school diploma or less, which declined 3.6% to 54.9% from 58.5%.  

Fig 8a. Educational Attainment 2020.
Source: U.S Census Bureau, ACS Selected Social Characteristics In the U.S, Year 2020 vs. 2010
Fig 8b. Educational Attainment 2010.
Source: U.S Census Bureau, ACS Selected Social Characteristics In the U.S, Year 2020 vs. 2010

Employment

The downtown’s employment is centered around the following professions/trades in 2020:

 Fig 9a. Local Employment Household Dynamic in the Central Business District.
Source: U.S Census Bureau, ACS Selected Economic Characteristics
  • Educational services, healthcare and social assistance – 28.7% of total employment
  • Retail trade – 12.1%
  • Professional, scientific, management, administrative, and waste management – 11.8%
  • Transportation, warehousing, and utilities – 11.3%
  • Arts, entertainment, recreation, and food services – 7.8%

We note the increase in Educational services, etc. to 28.7% of total employment in 2020 from 24.1% in 2010 and the increase in Professional, scientific, etc. to 11.8% in 2020 from 10.6% in 2010.  Education, healthcare, and professional services continue to dominate the downtown’s employment picture with the presence of Newark’s universities, hospitals, and corporate offices.  

 Fig 9b. Local Employment Household Dynamic in the Central Business District.
Source: U.S Census Bureau, ACS Selected Economic Characteristics
Fig.10.  Employment Density by Neighborhood
Source: On-the-Map Origin-Destination Employment Statistics (LODES), Year 2019

Newark’s employment base is concentrated in the following areas:

  • Central business district (CBD) – 54,000 jobs
  • South Broad Street/South Ironbound, including Newark Liberty International Airport) – 37,240 jobs
  • Fairmount neighborhood, which includes Rutgers University’s Newark Campus, New Jersey Institute of Technology (NJIT), Essex County College, and St. Michael’s Medical Center – 23,848 jobs
  • Weequahic – 7,410 jobs

Employed in Newark but living outside

122,288 employees
82.0 %

Employed and Living in
Newark 

26,780 employees
18.0 %

Living in Newark but working outside

81,924 employees
75.4%

Fig. 11 Inflow/Outflow of Jobs in Newark. Source: On-the-Map 2019 Inflow/Outflow of Private Primary Jobs

This map highlights the neighborhoods commuting into the Central Business District (CBD), with the dark blue areas representing the highest percentages of commuters coming into the CBD. The map highlights that Newark’s residents are a significant percentage of workers commuting into the CBD. Also, residents from Elizabeth, Jersey City, and Hoboken commute downtown. Newark offers convenient intracity access with its Newark Light Rail and numerous bus routes along with the two major commuter stations at Newark Penn Station and Broad Street Station.

Fig.12. Regional residents commuting to jobs in the Central Business District.
Source: On-the-Map Origin-Destination Employment Statistics (LODES)

Inside Newark

Sign up for our monthly newsletter
This is an error message
Sign Up