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Newport

Learn about the people, housing, costs and businesses in Newport, Maine

Median Home$234,800
Median Rent$893/month
Population1,695
Leading IndustriesTransportation · Construction5% transportation
Home Value Growth⬇⬇-12.6% over 2 years
Retirees21% of residentsnear the national average
Homeowners72% of occupied units
NotableAmenity Score70/100 · highly walkable area
Newport
ME

Frequently Asked Questions

What are today's mortgage rates in Newport?

As of today, the 30-year fixed mortgage rate for Newport is approximately 7.042% (7.083% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Newport?

The median home value in Newport is $235k. The median monthly rent is $893. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Newport?

Home values in Newport have decreased 12.6% over the past two years. Buyers may find more negotiating room in this market. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Newport?

Based on a typical all-in ownership cost of $1,065/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $46k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Newport is $60k/year.

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What industries drive the economy in Newport?

The largest employment sectors in Newport are public administration (22%) and retail (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.