The city’s median family income and property values consistently place high in national rankings. The Daily Pilot, a newspaper published in the neighboring city of Costa Mesa but which serves the greater Newport-Mesa community, reported in 2010 that more than a quarter of households have an income greater than $200,000, and the median value for homes is approximately $1 million.
In 1871 a steamer named The Vaquero made its first trip to a marshy lagoon for trading. Ranch owners in the Lower Bay decided from then on that the area should be called “Newport.”
In 1905 city development increased when Pacific Electric Railway established a southern terminus in Newport connecting the beach with downtown Los Angeles. In 1906 with a population of 206 citizens, the scattered settlements were incorporated as the City of Newport Beach.
Settlements filled in on the Peninsula, West Newport, Newport Island, Balboa Island and Lido Isle. In 1923 Corona del Mar was annexed and in 2002 Newport Coast, East Santa Ana Heights and San Joaquin Hills, were annexed. In 2008, after a long battle with the city of Costa Mesa, Newport Beach annexed West Santa Ana Heights.
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