Newport, KY is a vibrant city with plenty to offer for residents. Located on the banks of the Ohio River, it is a great place for anyone looking to enjoy waterfront views and activities. It is home to many local businesses such as Newport Aquarium, Newport on the Levee Shopping Center, and Tower Park Marina & Resort. The cost of living in Newport is quite reasonable; 2 bedroom rentals average at $1,030 compared to the US average of $1,430. Additionally, the Grocery Cost Index in Newport is 96 versus 100 in the US which makes it a relatively inexpensive place to live. All these factors make it an ideal destination if you are looking for affordable living without sacrificing quality of life and amenities.
Newport has an unemployment rate of 4.4%. The US average is 6.0%.
Newport has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 39.2%, which is higher than the US average of 33.5%.
Tax Rates for Newport
- The Sales Tax Rate for Newport is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Newport is 9.4%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newport
- The average income of a Newport resident is $20,901 a year. The US average is $28,555 a year.
- The Median household income of a Newport resident is $44,095 a year. The US average is $69,021 a year.