Newport Beach Condos Under $1 Million: Where to Look

Newport Beach, California, is a coastal gem synonymous with luxury—yacht-filled harbors, oceanfront estates, and a lifestyle that screams Southern California opulence. But with median home prices soaring past $3 million and even condos often fetching well over $1 million, finding an affordable condo in this prestigious city might seem like a pipe dream. Yet, as of March 3, 2025, there are still opportunities for savvy buyers to snag a Newport Beach condo under $1 million—if you know where to look. In this guide, we’ll uncover the best neighborhoods, strategies, and hidden corners of Newport Beach where budget-conscious buyers can find a foothold in this iconic coastal market, all while staying below that million-dollar mark.

 

The Newport Beach Challenge: Affordability in a Luxury Market

 

Let’s set the stage: Newport Beach isn’t cheap. The median condo price in the city hovers around $1.5 million, with oceanfront or view-rich units easily climbing to $2 million or more. The cost of living here is about 56% higher than the national average, driven largely by housing. A price per square foot of $1,200-$1,500 is standard, and competition is fierce—listings often sell within 60 days, sometimes sparking bidding wars. Add in the allure of Newport’s beaches, top schools, and proximity to Orange County’s business hubs, and it’s clear why demand keeps prices sky-high.

 

But “affordable” is relative, and in Newport Beach, under $1 million is a bargain. These condos won’t be bayfront penthouses or brand-new builds in gated communities like Crystal Cove—they’re more likely to be smaller, older, or farther from the sand. Still, they offer a chance to live in the 92660 or 92663 zip codes, with all the prestige and lifestyle perks that come with it. So, where can you find these elusive deals? Let’s explore the neighborhoods and tactics to make it happen.

 

Where to Look: Top Neighborhoods for Condos Under $1 Million

 

Newport Beach’s layout—from the bustling Balboa Peninsula to the serene Back Bay—means condo opportunities vary by area. Here are the best spots to hunt for properties under $1 million:

 

1. • Newport Terrace (Upper Newport Bay Area)
     • • Why It Works: Tucked near the Upper Newport Bay Nature Preserve, Newport Terrace offers a quieter, inland vibe with condo complexes built in the 1970s and 80s. These units, often 1-2 bedrooms and 800-1,200 square feet, start as low as $700,000-$900,000.
     • • What You’ll Find: A 2-bed, 2-bath condo at 10 Newport Terrace, listed at $850,000, might feature updated laminate flooring, a private patio, and access to a community pool and spa. It’s not on the beach, but the bay trails and Talbert Regional Park are steps away.
     • • Perks: Affordable HOA fees ($300-$400/month), proximity to nature, and a 10-minute drive to Balboa Peninsula beaches.
     • • Trade-Offs: Smaller sizes, dated exteriors, and no ocean views—though some units glimpse the Back Bay.

• • Villa Balboa (Newport Heights Adjacent)
    • • Why It Works: Perched on a bluff near Newport Heights, Villa Balboa is a gated community with 1970s-era condos offering 1-3 bedrooms, often 1,000-1,400 square feet. Prices hover around $800,000-$950,000 for entry-level units.
    • • What You’ll Find: A 2-bed, 1-bath unit at 260 Cagney Lane, priced at $899,000, might boast a modern kitchen with quartz counters, a balcony with city-light views, and resort-style amenities like pools and tennis courts.
    • • Perks: Gated security, bluff-top location near Hoag Hospital, and a short drive to Fashion Island or Corona del Mar Village.
    • • Trade-Offs: Limited ocean views (some units face inland), and HOA fees ($400-$500/month) add to costs.

• • Bayridge Park (Eastbluff Area)
    • • Why It Works: This gated condo community near Eastbluff offers 2-3 bedroom units, often 1,200-1,600 square feet, starting at $900,000-$1 million. Built in the 1970s, it’s a sleeper hit for affordability.
    • • What You’ll Find: A 2-bed, 2-bath condo at 112 Hartford Drive, listed at $925,000, could feature a remodeled interior with hardwood floors, a private patio, and access to a community pool and spa—all minutes from Back Bay trails.
    • • Perks: Quiet location, Cape Cod-style charm, and proximity to top schools like Eastbluff Elementary.
    • • Trade-Offs: Older construction may need updates, and it’s a 15-minute drive to the beach.

• • Newport Crest (Newport Heights)
    • • Why It Works: Located off Superior Avenue, Newport Crest offers townhome-style condos with 2-3 bedrooms, typically 1,200-1,500 square feet, priced from $850,000-$1 million. It’s a family-friendly spot with value potential.
    • • What You’ll Find: A 3-bed, 2-bath unit at 15 Crestwood, listed at $975,000, might include new flooring, a spacious living area, and a balcony with partial harbor views, plus a 2-car garage.
    • • Perks: Close to Newport Heights Elementary, walkable to Mariners Mile dining, and community pools.
    • • Trade-Offs: Inland setting, with ocean access a 10-minute drive, and some units need cosmetic work.

• • Ziani (Newport Coast Fringe)
    • • Why It Works: On the edge of Newport Coast near the 73 Freeway, Ziani offers Tuscan-style condos built in the early 2000s, with 2-bedroom units (1,100-1,300 sq. ft.) occasionally dipping below $1 million—think $950,000-$999,000.
    • • What You’ll Find: A 2-bed, 2-bath condo at 10 Ziani Lane, listed at $989,000, could feature granite counters, an attached garage, and a resort-style pool area, with distant ocean views from upper units.
    • • Perks: Gated community, modern builds, and Newport Coast’s prestige at a lower price point.
    • • Trade-Offs: Farther from downtown Newport Beach (15-20 minutes), and HOA fees ($500-$600/month) are steep.

 

Strategies to Find Condos Under $1 Million

 

Finding these deals takes more than luck—here’s how to maximize your search:

 

• • Work with a Local Agent: Newport Beach realtors often know of off-market listings or fixer-uppers before they hit Zillow or Redfin. They can target complexes like Newport Terrace or Bayridge Park where sub-$1 million sales pop up.

• • Look for Fixer-Uppers: Older condos in Newport Heights or Eastbluff—built in the 1960s-70s—may list at $700,000-$900,000 if they need updates. A 2-bed unit needing $50,000 in renovations could still land under budget.

• • Target Smaller Units: One-bedroom condos (800-1,000 sq. ft.) in Villa Balboa or Newport Crest occasionally slip below $800,000, especially if they lack views or upgrades.

• • Monitor Market Shifts: Early 2025 often sees a post-holiday inventory bump—sellers list to catch spring buyers. Check sites like Realtor.com or Homes.com weekly for fresh sub-$1 million options.

• • Consider Auctions or Probates: Past sales—like a Versailles condo at $275,000 in 2013—show probate or distressed properties can slash prices. These are rare but worth watching via local listings.

 

Market Snapshot: March 2025

 

Newport Beach’s condo market remains competitive, but sub-$1 million options exist. The median condo price is $1.5 million, up 5-7% from late 2024, with 99 condos listed last month per Homes.com data. Sub-$1 million units—often 10-15% of inventory—tend to be inland or smaller, averaging 1,200 square feet. Days on market hover at 60, though hot deals (e.g., a renovated Newport Terrace unit) can go pending in 30 days or less. Interest rates near 6% mean a $900,000 condo with 20% down ($180,000) carries a monthly payment of about $4,300, plus HOA—doable for dual-income buyers or downsizers with equity.

 

Why Buy Under $1 Million in Newport Beach?

 

Even at this price point, Newport Beach delivers:

 

• • Location: These condos are 5-15 minutes from beaches like Newport Pier or Corona del Mar State Beach, plus Fashion Island’s shopping and dining.

• • Lifestyle: Walk to Back Bay trails, bike to Balboa Peninsula, or enjoy community pools—coastal living without the $5 million price tag.

• • Investment: Newport’s 4-6% annual appreciation means a $900,000 condo could hit $1.2 million in 5 years—a solid ROI in a prestige market.

• • Prestige: The Newport Beach address—92660 or 92663—carries cachet, even for inland units.

 

Living the Newport Beach Dream on a Budget

 

Picture this: You’re in a Newport Terrace condo, sipping coffee on your patio as kayakers paddle the Back Bay below. Or maybe you’re at Villa Balboa, watching city lights twinkle from your balcony after a day at Newport Pier. These homes lack oceanfront sand, but they’re steps from Newport’s heart—Mariners Mile eateries, Hoag Hospital, and Mariners Elementary (rated 9/10). Weekends mean surfing at The Wedge or dining at Five Crowns, all without breaking the bank. It’s Newport Beach living, dialed down to a price you can manage.

 

Challenges and Trade-Offs

 

Sub-$1 million condos come with caveats:

 

• • Size: Expect 1-2 bedrooms, rarely over 1,500 square feet—cozy, not sprawling.

• • Location: Inland settings mean a drive to the beach, not a walk.

• • Condition: Older units may need $20,000-$50,000 in updates—factor that into your budget.

• • HOA Fees: $300-$600/month adds $3,600-$7,200 annually to costs.

 

Final Tips for Buyers

 

• • Set Alerts: Use Zillow or Redfin to flag new listings under $1 million in Newport Terrace, Villa Balboa, or Bayridge.

• • Be Flexible: A 1-bedroom in Ziani or a fixer in Newport Crest might stretch your dollar further.

• • Negotiate: With 60 days on market, there’s room to haggle—especially on dated units.

• • Think Long-Term: Newport’s value holds; a $900,000 buy now could fund a bigger move later.

 

Conclusion

 

Newport Beach condos under $1 million are rare, but they’re out there—hiding in Newport Terrace’s bay-side retreats, Villa Balboa’s gated bluff, or Bayridge’s quiet corners. As of March 2025, these sub-$1 million gems offer a chance to live the Newport dream without the multimillion-dollar price tag. From $700,000 fixer-uppers to $999,000 modern units, the key is knowing where to look—Newport Crest, Ziani, and beyond—and acting fast. Partner with a local agent, scour the listings, and seize your shot at coastal living in one of America’s most iconic cities. The Pacific’s call is closer than you think—will you answer?