Newport cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexNewportRhode IslandNational
Cost of living index138119100
IndexNewportRhode IslandNational
Goods & Services index118118100
Groceries index107107100
Health care index107107100
Housing index188126100
Transportation index101101100
Utilities index139139100
Here we can see a simple outline of the cost of living in Newport, RI. As you can see, with the average cost of living in Newport, RI being 138, that puts it 16% higher than the average of Rhode Island and 38% higher than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Newport, RI, the price of goods and services are equal to the average of Rhode Island as well as 18% higher than the nation's average.

Did you know?

  • The cost of living in Newport is 16% higher than the Rhode Island average.
  • The cost of living in Newport is 38% higher than the national average.
  • The cost of housing in Newport is 88% higher than the national average.
  • Rhode Island general sales tax is 37% higher than the national average.
  • Rhode Island state income tax is 69% higher than the national average.

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Compare Newport, RI Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
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Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Newport, RI would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Newport, RI, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Newport, RI salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$98,158$8,180$2,290$2,945
Renters$41,458$3,455$967$1,244
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Newport, RI as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Newport, RI homeowners, is $98,158. This would allow for a maximum of $2,290 per month to be spent on housing costs. For renters, the median monthly income is $41,458 which would result in a maximum of $967 to be spent on rental costs.

Rhode Island Sales Tax

StateGeneral Sales TaxWith Max Surtax
Rhode Island7%7%

Rhode Island Income Tax

StateIncome Tax (Low)Income Tax (High)
Rhode Island3.75%5.99%
The Rhode Island sales tax and Rhode Island income tax rates should definitely be considered when determining the overall cost of living in Newport, RI. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Rhode Island sales tax is 7% and the maximum surtax is 7%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Rhode Island income tax rates range from 3.75% to 5.99%.

Goods & Services

ItemNewportNational avg.Difference
Haircut $16.67$15.567.1%
Beauty Salon $48.75$36.1135.0%
Toothpaste $3.97$2.4760.6%
Shampoo $0.99$0.962.6%
Movie $11.17$10.1310.3%
Bowling $4.77$4.740.7%

Groceries

ItemNewportNational avg.Difference
Ground Beef $4.56$3.9814.4%
Fried Chicken $1.49$1.415.9%
Milk $2.56$2.0623.9%
Potatoes $3.99$2.9833.8%
Pizza $8.83$9.476.8%
Beer $9.44$8.797.3%

Health Care

ItemNewportNational avg.Difference
Optometrist $123.75$101.0422.5%
Doctor $142.56$107.4432.7%
Dentist $88.44$90.422.2%
Ibuprofen $8.99$9.283.1%
Lipitor $391.73$426.508.2%

Housing

ItemNewportNational avg.Difference
Home Price $383,200.00$175,700.00118.1%
Avg. Mortgage Payment $1,459.71$1,133.2328.8%
Apartment Rent $1,093.00$920.0018.8%

Transportation

ItemNewportNational avg.Difference
Gasoline $1.97$1.991.0%
Tire Balancing $49.00$45.767.1%

Utilities

ItemNewportNational avg.Difference
All Electricity$243.22$163.8148.5%
Phone $36.19$28.3927.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Tiverton, RI7,30012020%
North Westport, MA4,54012424%
Wakefield-Peacedale, RI8,91112525%
Newport East, RI10,95312929%
Kingston, RI7,13613232%
Newport, RI24,59913838%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hercules, CA24,59614343%
Sanger, CA24,5871055%
San Lorenzo, CA24,56313939%
Zionsville, IN24,55911414%
Medford, NY24,53513636%
Newport, RI24,59913838%
Source: The Newport, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.