Newport, RI Cost Of Living
Cost Of Living In Newport, RI Summary
Cost of living in Newport research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Newport is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Rhode Island, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Newport is 143, with 100 being the average.
The cost of living index in Newport is 1.4x higher than the national average.
Newport ranks as the #15 cheapest in Rhode Island out of 15.
Newport ranks as the #5,499 cheapest out of 6,489 in the US.
The median home value in Newport is $897,972.
The median income in Newport is $83,562.
Table Of Contents
Newport's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Newport, RI?
According to the most recent data on the cost of living, Newport has an overall cost of living index of 143, which is 1.4x higher than the national index of 100.
Compared to Rhode Island, Newport has a cost of living index that's 1.3x higher than Rhode Island's index of 111.
The standard of living in Newport ranks as #15 most affordable out of the 15 places we measured in Rhode Island. By definition, that implies Newport ranks as the #0 most expensive place in the Ocean State.
For more reading on life in Newport, check out:
In Rhode Island
In America
Newport Cost Of Living Vs. Rhode Island
Six factors go into calculating the cost of living index in Newport. Here is how it fairs on each of the criteria:
The Services index in Newport is 116.
The Groceries index in Newport is 104.
The Health index in Newport is 107.
The Housing index in Newport is 231.
The Transportation index in Newport is 94.
The Utilities index in Newport is 113.
| Living Expense | Newport | Rhode Island | National Average | |
|---|---|---|---|---|
| Overall | 143 | 111 | 100 | |
| Services | 116 | 113 | 100 | |
| Groceries | 104 | 100 | 100 | |
| Health | 107 | 110 | 100 | |
| Housing | 231 | 121 | 100 | |
| Transportation | 94 | 91 | 100 | |
| Utilities | 113 | 114 | 100 | |
Newport, RI Housing Cost Breakdown
Housing swings affordability the most between places in Rhode Island, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Newport is $897,972.
The Median Rent in Newport is $1,612.
The Median Income in Newport is $83,562.
The Home Value To Income in Newport is 10.7x.
The Rent To Monthly Income in Newport is 0.23x.
| Statistic | Newport | Rhode Island | United States |
|---|---|---|---|
| Median Home Value | $897,972 | $490,356 | $303,400 |
| Median Rent | $1,612 | $1,273 | $1,348 |
| Median Income | $83,562 | $86,372 | $78,538 |
| Home Value To Income | 10.7x | 5.7x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Newport, RI Costs By Category
Detailed Newport Services Costs Vs. Rhode Island
| Item | Newport | Rhode Island |
|---|---|---|
| Shampoo | $1.43 | $1.28 |
| Movie | $14.37 | $12.13 |
| Bowling | $22.72 | $18 |
| Haircut | $31.5 | $24.26 |
| Beauty Salon | $49.92 | $45.56 |
Detailed Newport Groceries Costs Vs. Rhode Island
| Item | Newport | Rhode Island |
|---|---|---|
| Ground Beef | $5.85 | $5.84 |
| Fried Chicken | $1.43 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.0 | $4.93 |
| Pizza | $11.59 | $12.09 |
| Beer | $10.74 | $10.41 |
| Toothpaste | $3.46 | $3.7 |
Detailed Newport Health Costs Vs. Rhode Island
| Item | Newport | Rhode Island |
|---|---|---|
| Optometrist | $104.45 | $125.68 |
| Doctor | $169.83 | $135.78 |
| Dentist | $130.28 | $113.29 |
Detailed Newport Transportation Costs Vs. Rhode Island
| Item | Newport | Rhode Island |
|---|---|---|
| Gasoline | $3.38 | $3.46 |
| Tire Balancing | $48.2 | $59.92 |
Detailed Newport Utilities Costs Vs. Rhode Island
| Item | Newport | Rhode Island |
|---|---|---|
| All Electricity | $230.62 | $193.99 |
| Phone | $195.18 | $192.25 |
Newport SnackAbility
/10
Cost Of Living In Cities Around Newport
The cost of living varies in the cities and towns around Newport. Here's a quick look at the cost of living in the most populous nearby places:
Warwick, RI has a cost of living index of 114, 0.8x Newport.
Somerset, MA has a cost of living index of 120, 0.8x Newport.
Newport East, RI has a cost of living index of 128, 0.9x Newport.
| City | Population | Cost Of Living | Vs. Newport |
|---|---|---|---|
| Warwick, RI | 82,871 | 114 | 0.8x |
| Somerset, MA | 18,246 | 120 | 0.8x |
| Newport East, RI | 11,262 | 128 | 0.9x |
| Tiverton, RI | 8,151 | 117 | 0.8x |
| Kingston, RI | 6,953 | 134 | 0.9x |
