Newport, RI (02840) is a vibrant seaside city with a median 2 bedroom rent of $2,130. This is significantly higher than the US average at $1,430. The Grocery Cost Index in Newport is 110, versus 100 in the US. The cost of living here can be expensive but the city offers plenty of job opportunities for locals and visitors alike. Businesses such as Rogers Free Library, Zemenides & Associates CPA’s and Newport Shipyard are popular among residents due to their quality services and products. There are also many restaurants, bars and boutiques that give the city its unique charm.
Newport (zip 02840) has an unemployment rate of 6.8%. The US average is 6.0%.
Newport (zip 02840) has seen the job market increase by 1.5% 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 02840)
- The Sales Tax Rate for Newport (zip 02840) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Newport (zip 02840) 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 02840)
- The average income of a Newport (zip 02840) resident is $40,714 a year. The US average is $28,555 a year.
- The Median household income of a Newport (zip 02840) resident is $77,042 a year. The US average is $69,021 a year.