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Newport

Learn about the people, housing, costs and businesses in Newport, Rhode Island

Median Home$785,486
Median Rent$1,771/month
Population24,874
Leading IndustriesArts, Food & Hospitality · Healthcare · Education13% arts, food & hospitality
Home Value Growth⬆⬆⬆+30.3% over 2 years
Young Adults41% of residentstop 2% nationally
Homeowners50% of occupied units
NotableAmenity Score87/100 · highly walkable area
NotableHighly Educated33% bachelor's · 17% graduate · top 5% nationally
Newport
RI

Frequently Asked Questions

What are today's mortgage rates in Newport?

As of today, the 30-year fixed mortgage rate for Newport is approximately 6.853% (6.888% 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 $785k. The median monthly rent is $1,771. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Newport?

Home values in Newport have increased 30.3% over the past two years. This indicates a strong appreciation trend. 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 $1,906/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $82k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Newport is $85k/year.

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What industries drive the economy in Newport?

The largest employment sectors in Newport are public administration (25%) and healthcare (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.