If you are single, a couple or families with children you will find Newport Beach’s active lifestyle a major draw.
Newport Beach’s rich history is reflected in its unique neighborhoods. Enjoy the small-town-your-town feel of historic Balboa Island or Corona del Mar (communities designed for walking and social interaction) or live in secluded privacy in a private gated community. Enjoy comfortable homes and apartments in close proximity to the job center of Orange County
The city’s population includes some of the wealthiest household in the nation that enjoy luxury living at its best. Being close to the University of California at Irvine brings a student and young professional population that adds a youthful vibe to the community. And it is a stable population, over 16-percent of the population has lived here over 20-years. Take a “fun look” at the population in the slide show below.
Newport Beach is a major destination resort, the millions of visitors that visit here each year have created a demand for amenities found in few cities of its size. Here you will fine restaurants, fitness clubs, clothing boutiques, entertainment and cultural events. Newport Beach is a safe city with a city center that continues to renew itself. Add this to the varied terrain, Newport Harbor and Bay and the perfect climate and you have a true choice over most communities in the nation.
In this table you have a comparison on the City of Newport Beach with the two other communities, Irvine and Costa Mesa, that form the three Central Coast Cities – along with Orange County as a whole.
Newport Beach has a population of 85,600 people residing in some 38,800 households; the household size at 2.2 persons per household is low compared to Irvine and Costa Mesa and Orange County while the median age at 42.9, is high.
Newport Beach has a higher than average White population at 82 percent compared to the County as a whole which is 43-percent.
The Median Household income is well above that of the County or adjacent Cities, it is $108,950. Median Family Income (which removes single households from the statistics) is $151,800.
Not surprisingly, 63.4% of the population have Bachelor’s degrees or higher.
There is a large number of jobs in Newport Beach, in this 2010 Census estimate, 43,800. That amounts to 1.13 jobs per household. Here you will be living close to where you work. Orange County as a whole has a high 1.54 jobs per household. It is the job center for a large number of commuters residing in surrounding counties, in particular Riverside and North San Diego Counties where homes are more affordable.
If you have noted the high vacancy rate of 12.3 percent in Newport Beach, that is a factor of its resort amenities. Included in this statistic is a large number of second homes that appear in the Census as vacant. I estimate this number of second/vacation homes at nine percent – approximately 4,000 homes. Many families have had homes in Balboa Island and Peninsula for generations.
The population of Newport Beach is highly educated. Some 37 percent of the population have Bachelor degrees while an additional 26-percent have Graduate or Professional degrees.
The majority of the population of Newport Beach are in their most productive years, ages 25 to 54. Professionals, business owners and independent contractors find the location close to jobs and the University of California at Irvine to be a bonus.
The median age is 42.9, influenced by the fact the city also has a significant population over 65-years of age. It is an ideal refuge for empty nesters and households seeking a destination for relaxation or “movers and shakers” who sail or play golf and want a country club environment.
Because of its excellent climate and rich amenities it is a popular retirement location and many families continue to live in the community well after retirement.
Newport Beach residents are largely employed in professional fields and are often managers enjoying high incomes; 20.6-percent of the population have jobs in this category.
Finance, insurance and real estate accounts for 17-percent of jobs while education and health service account for 16.6 percent.
Many of these jobs are in the City of Newport Beach or in the adjacent office centers surrounding Orange County airport; a close commute.
The Median Household Income of Newport Beach residents is estimated at $108,950 by the US Census.
Note the large number of households with incomes above $200,000 and significant concentration in the $100,000 to $150,000 range. Newport Beach has some of the most affluent households in California.
Newport Beach is not ethnically diverse. Some 90-percent of the population is White. There is small but growing Asian population.
People of hispanic origin account for a low seven percent of the population
Newport Beach has a limited inventory of homes to buy. Only 43,500 homes exist in the City and 45-percent are rental units. The total inventory of owner occupied housing amounts to some 21,000 homes; comprised of single family detached, town homes and condominiums.
Sales over the last six years have averaged 1,040 a year, 67-percent of which were single family detached homes. At a high 1,500 homes have been sold. This is a low seven percent turn over rate.
Approximately 23-percent of the housing stock in Newport Beach was build prior to 1960 but while there are some “original” homes, the vast majority have been remodeled many times over. Housing was built in two surges, between 1960 and 1970 when 18-percent of the housing stock was added and between 1990 and 2004 when an additional 23-percent was added.
Newport Beach is a mature community with little if any remaining land on which to build new homes. The newest communities in Newport Beach are the Newport Coast and Crystal Cove. Built by The Irvine Company, these are two of the highest priced communities in Orange County.
The Irvine Company, among America’s most experienced and respected master planned community builders, has built all but the oldest neighborhoods in Newport Beach and brought the nations best homebuilders to design and build these home, These are self contained Villages with places to live, learn, shop and play and are all close to employment centers.
The final bar chart in this series presents a comparison between the age of the housing stock in Newport Beach, Irvine and Costa Mesa. Costa Mesa has homes of similar age to those of Newport Beach but way largely built out by 1990 while new homes continued to be built in some volume in Newport Beach. The City of Irvine is the newest of the three communities, here construction started in volume after 1960. All of the City of Irvine was built out in master planned communities, Villages built by The Irvine Company.
I’m Robert Deane, Exclusive Buyer’s Broker – a Neighborhood Expert. I hope you found this information to be of assistance to you in better understanding the population of Newport Beach. It is all unique content compiled from credible data source and distilled into knowledge.
My policy is to earn your trust by provide knowledge that is of value to your real estate purchase decision – with on strings attached.
My goal, to become your trusted advisor and assist you in your home purchase. I’m at your service.
Who lives in Newport Beach? This slide show will introduce you to the different segments of the population based on common characteristics in marital status, income and lifestyle. To me it is a valuable snap shot that is often a better way to look at the population than we can gain from statistics alone. Roll over the to get information about any segment.