Housing costs in Newport?
A typical home costs
$730,800, which is 116.1% more expensive than the national average of
$338,100 and 82.2% more expensive than the average Rhode Island home, at
$401,200. Renting a two-bedroom unit in Newport costs
$2,130 per month, which is 49.0% more than the national average of
$1,430 and 32.9% more than the state average of
$1,430.
Can I afford Newport?
To live comfortably in Newport, Rhode Island, a minimum annual income of
$140,040 for a family, and
$67,600 for a single person is recommended.
What does A.I. say about Newport?
Newport, RI is known as a desirable place to live due to its beautiful scenery and access to the water. However, the cost of living in this area can be quite steep. The median home value is over $400k, which is well above the national average. Additionally, rental prices in Newport are much higher than other areas of Rhode Island - with a one-bedroom averaging around $1,600 per month. In terms of groceries and other everyday items, prices are generally slightly higher than the national average. All in all, while living in Newport can be expensive, it’s possible to find ways to save on costs if you plan accordingly.