New Shoreham, RI is a small town located on Block Island off the coast of Rhode Island. As such, it offers great access to the ocean with beaches and plenty of outdoor activities to enjoy. The cost of living in New Shoreham is generally lower than the US average, as evidenced by the 2 bedroom rent being $1,200 compared to $1,430 and Grocery Cost Index being 120 versus 100 in the US. Local companies in New Shoreham include Block Island Ferry Co., Aldo’s Fish Market & Restaurant, Ballard’s Inn Hotel & Marina Bar & Grille, and Mohegan Cafe & Brewery. Living in New Shoreham is an affordable option for those looking for a quiet and peaceful community close to nature with access to plenty of outdoor activities.
New Shoreham has an unemployment rate of 21.4%. The US average is 6.0%.
New Shoreham has seen the job market increase by 1.4% over the last year. Future job growth over the next ten years is predicted to be 30.2%, which is lower than the US average of 33.5%.
Tax Rates for New Shoreham
- The Sales Tax Rate for New Shoreham is 7.0%. The US average is 7.3%.
- The Income Tax Rate for New Shoreham is 3.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for New Shoreham
- The average income of a New Shoreham resident is $49,290 a year. The US average is $28,555 a year.
- The Median household income of a New Shoreham resident is $72,279 a year. The US average is $69,021 a year.