Newport, VT (05855) is a charming city located in the northern part of Vermont. It has a population of 4,589 and is known for its lower cost of living compared to other cities in the US. The average 2 bedroom rent in Newport is $950, which is $480 less than the national average. Furthermore, the Grocery Cost Index in Newport is 105 versus 100 in the US which indicates prices 5% higher than average.
Newport hosts several local businesses such as Barton & Loguidice Engineering Firm, EDSI Corporation and Northeast Delta Dental. These companies offer employment opportunities to locals and contribute greatly to the community’s economic growth. All these factors make Newport an attractive place to live as it offers more affordable housing options and quality jobs.
Newport (zip 05855) has an unemployment rate of 4.5%. The US average is 6.0%.
Newport (zip 05855) has seen the job market increase by 0.3% over the last year. Future job growth over the next ten years is predicted to be 27.0%, which is lower than the US average of 33.5%.
Tax Rates for Newport (zip 05855)
- The Sales Tax Rate for Newport (zip 05855) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Newport (zip 05855) is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Newport (zip 05855)
- The average income of a Newport (zip 05855) resident is $23,220 a year. The US average is $28,555 a year.
- The Median household income of a Newport (zip 05855) resident is $57,202 a year. The US average is $69,021 a year.