Newport, Rhode Island Income Statistics
Newport Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
B
Newport Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Household Income | $85,824 | $88,093 | $80,455 |
| Median Personal Income | $66,188 | $66,452 | $60,758 |
| Average Yearly Income Growth | 4.8% | 5.2% | 4.8% |
| Six-Figure Earners | 17.6% | 14.6% | 13.9% |
| $200k+ Households | 14.2% | 13.8% | 13.2% |
The median household income in Newport is about 3% lower than in Rhode Island. Income has been growing slower in Newport (4.8%/yr) than in Rhode Island (5.2%/yr).
About 18% of adults in Newport earn six figures ($100,000 or more) a year, higher than the Rhode Island average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Newport, Rhode Island grew by 50.9% from 2009 to 2024, reaching $85,824 in 2024. That's an average of about 4.8% per year.
Income Inequality and the Gender Pay Gap in Newport
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.518 | 0.529 | 0.552 |
| Male Median Income | $77,649 | $75,201 | $69,667 |
| Female Median Income | $64,209 | $63,031 | $56,850 |
| Gender Pay Gap | 17.3% | 16.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Newport, it is 0.518, lower than Rhode Island's 0.529, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 21% more than women's income in Newport, Rhode Island. Over a 35-year career, a 21% wage gap accumulates to roughly $470,400 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Newport, Rhode Island has narrowed from about 23% to 17% in 2024. Over that period the gap was narrowest at 12% in 2016. In dollar terms, the gap has widened by $1,076 since 2009.
Employment
| Metric | Newport | Rhode Island Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 8.1% | 5.8% | 5.2% |
| Working from Home | 18.0% | 13.0% | 15.0% |
| Commute time (minutes) | 13 | 21 | 22 |
Approximately 1,051 people are unemployed in Newport, Rhode Island.
The average commute time in Newport is 13 minutes, shorter than the 21 minutes in Rhode Island.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Newport, Rhode Island has risen from 3.8% to 8.1% in 2024. Over that period the rate peaked at 9.1% in 2022.
Conclusion
Considering all these factors, Newport, Rhode Island has an overall wealth index grade of B, making it somewhat better than Rhode Island, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Newport, Rhode Island.
How Rich Is Newport, Rhode Island?
Newport has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $85,824, about 3% lower than the Rhode Island average of $88,093.
How fast is household income rising in Newport, Rhode Island?
Between 2009 and 2024, the median household income in Newport, Rhode Island rose 51%, from $56,882 to $85,824. Over the same years, income here lagged behind Rhode Island as a whole: +51% against +57%.
What was the median household income in Newport in 2023?
In 2023, the median household income in Newport, Rhode Island was $84,411, up 2% from $82,604 in 2022. The Rhode Island median that year was $86,472.
What was the median household income in Newport in 2020?
In 2020, the median household income in Newport, Rhode Island was $67,249. By 2024 it had risen 28% to $85,824.
How strong is the job market in Newport, Rhode Island?
Unemployment in Newport, Rhode Island is 8.1%, well above the Rhode Island rate of 5.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Newport, Rhode Island?
The Gini coefficient in Newport is 0.518. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Newport, Rhode Island?
Since 2009, the income gap between men and women in Newport, Rhode Island has narrowed from about 23% to 17% in 2024. Over that period the gap was narrowest at 12% in 2016. In dollar terms, the gap has widened by $1,076 since 2009.
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