Newport, Rhode Island Housing Market Prices
Newport Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 24% above the Rhode Island median$448,236
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Median rent 26% above the Rhode Island median$1,686
Housing Market Overview
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $448,236 | $360,248 | $248,835 |
| Price Trend (Annual %) | -4.1% | 7.4% | 7.5% |
| Median Gross Rent | $1,686 | $1,341 | $1,407 |
| Rent Trend (Annual %) | 5.7% | 4.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Newport is about 24% higher than in Rhode Island. Rent is about 26% higher than the Rhode Island average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Newport: home prices fell about 4.1% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
Median rent in Newport rose about 65.6% between 2015 and 2024, from $1,018 to $1,686. Over the same span, rent in Rhode Island rose about 45.0%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Newport.
Buying the median-priced home in Newport costs roughly 22.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Newport. The price-to-rent ratio in Rhode Island is about 22.4.
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $448,236 | $360,248 | $248,835 |
| Median Household Income | $85,824 | $88,093 | $80,455 |
| Price-to-Income Ratio | 5.2 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Newport fell about 47.7%, while median household income rose about 43.0% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.5% | 57.8% | 58.5% |
| Rental Rate | 41.4% | 33.0% | 31.2% |
| Vacancy Rate | 18.1% | 9.1% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Newport has a homeownership rate of 40.5%, lower than the Rhode Island average of 57.8%. Its housing vacancy rate is 18.1%, compared with 9.1% in Rhode Island.
Housing Stock
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.96 people | 2.38 people | 2.53 people |
| Median Structure Built Year | 1946 | 1962 | 1978 |
| Median Number of Rooms | 5.1 | 5.4 | 5.5 |
The typical housing unit in Newport was built around 1946. On average, 2.0 people live in a home with about 5.1 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Newport, Rhode Island.
What is the median home price in Newport, Rhode Island?
The median home price in Newport, Rhode Island is $448,236, higher than the Rhode Island average of $360,248.
What is the average home price in Newport, Rhode Island?
The typical home price in Newport, Rhode Island, reported as the median sale price, is $448,236. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Newport, Rhode Island?
The median gross rent in Newport, Rhode Island is $1,686 per month, higher than the Rhode Island average of $1,341.
What was the median gross rent in Newport in 2020?
In 2020, the median gross rent in Newport, Rhode Island was $1,312 per month.
What is the price-to-rent ratio in Newport, Rhode Island?
The price-to-rent ratio in Newport, Rhode Island is about 22.1, meaning it would take roughly 22.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Newport.
Are home prices or rent rising faster in Newport, Rhode Island?
Home prices and rent are moving in opposite directions in Newport: home prices fell about 4.1% a year while rent rose about 5.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Newport, Rhode Island?
40.5% of households in Newport, Rhode Island own their home, lower than the Rhode Island average of 57.8%.
What is the vacancy rate in Newport, Rhode Island?
The housing vacancy rate in Newport, Rhode Island is 18.1%, higher than the Rhode Island average of 9.1%.
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