Newport, IN is a small town located in southern Indiana. It has a population of around 3,000 people and offers affordable housing options. The average 2 bedroom rent in Newport is $900, which is significantly cheaper than the national average of $1,430 for the same type of property. There are also many local businesses in Newport that cater to residents' needs. Examples include grocery stores such as Marsh Supermarkets and Save-A-Lot Food Stores, as well as department stores like Walmart and Target. Additionally, there are several restaurants such as Pizza King and Burger King that serve delicious meals at reasonable prices. \nThe cost of living in Newport is quite low compared to other areas in the United States. The Grocery Cost Index is 88 versus 100 nationwide, meaning groceries cost about 12 percent less here than they do on average elsewhere. This makes it a great place for those looking to save money while still enjoying all that this charming community has to offer!
Newport has an unemployment rate of 5.7%. The US average is 6.0%.
Newport has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 25.1%, which is lower than the US average of 33.5%.
Tax Rates for Newport
- The Sales Tax Rate for Newport is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newport is 3.3%. 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 $25,273 a year. The US average is $37,638 a year.
- The Median household income of a Newport resident is $45,000 a year. The US average is $69,021 a year.