Newport, RI (02841) is known for its waterfront views and stunning beaches. With an average 2 bedroom rent of $1,950, it is slightly more expensive than the US average at $1,430. The grocery cost index in Newport is also higher at 108 versus 100 in the US.
The local economy boasts a wide range of options for both residents and visitors alike. Popular companies in Newport include Salve Regina University, Naval Station Newport, the U.S. Naval War College, the Marine Biological Laboratory of Rhode Island, and Seaview Grocery & Deli. Additionally, there are numerous restaurants and boutique shops that line the streets of downtown Newport.
Newport (zip 02841) has an unemployment rate of 6.8%. The US average is 6.0%.
Newport (zip 02841) has seen the job market decrease by -8.8% over the last year. Future job growth over the next ten years is predicted to be 35.8%, which is higher than the US average of 33.5%.
Tax Rates for Newport (zip 02841)
- The Sales Tax Rate for Newport (zip 02841) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newport (zip 02841) 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 Newport (zip 02841)
- The average income of a Newport (zip 02841) resident is $31,520 a year. The US average is $37,638 a year.
- The Median household income of a Newport (zip 02841) resident is $0 a year. The US average is $69,021 a year.