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.
IndexNewportVermontNational
Cost of living index101113100
IndexNewportVermontNational
Goods & Services index106106100
Groceries index109109100
Health care index107107100
Housing index74115100
Transportation index128128100
Utilities index123123100
Here we can see a simple outline of the cost of living in Newport, VT. As you can see, with the average cost of living in Newport, VT being 101, that puts it 11% lower than the average of Vermont and 1% 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, VT, the price of goods and services are equal to the average of Vermont as well as 6% higher than the nation's average.

Did you know?

  • The cost of living in Newport is 11% lower than the Vermont average.
  • The cost of living in Newport is 1% higher than the national average.
  • The cost of housing in Newport is 26% lower than the national average.
  • Vermont general sales tax is 18% higher than the national average.
  • Vermont state income tax is 60% higher than the national average.

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Compare Newport, VT Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator is used in order to provide a comparison of your current salary in Newport, VT to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Newport, VT, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Newport, VT salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$49,375$4,115$1,152$1,481
Renters$18,633$1,553$435$559
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Newport, VT, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Newport, VT homeowners have a median income of $49,375. Using that number, you will come up with a maximum of $1,152 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $18,633, which means there is a maximum of $435 to be spent on the costs of renting a home or apartment.

Vermont Sales Tax

StateGeneral Sales TaxWith Max Surtax
Vermont6%7%

Vermont Income Tax

StateIncome Tax (Low)Income Tax (High)
Vermont3.55%8.95%
When assessing the complete cost of living in Newport, VT, the Vermont income tax and the Vermont sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Vermont maximum surtax is 7%, and the Vermont sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 3.55% to 8.95% in Vermont.

Goods & Services

ItemNewportNational avg.Difference
Haircut $19.12$14.5931.0%
Beauty Salon $45.50$34.6831.2%
Toothpaste $2.09$2.4715.5%
Shampoo $1.09$1.026.7%
Movie $10.53$9.876.7%
Bowling $4.67$4.396.3%

Groceries

ItemNewportNational avg.Difference
Ground Beef $4.56$4.481.9%
Fried Chicken $1.84$1.4625.7%
Milk $2.79$2.3618.4%
Potatoes $3.99$3.0630.3%
Pizza $8.00$9.2413.4%
Beer $8.74$8.631.2%

Health Care

ItemNewportNational avg.Difference
Optometrist $128.10$99.7828.4%
Doctor $113.84$105.038.4%
Dentist $94.00$88.706.0%
Ibuprofen $9.66$9.412.6%
Lipitor $311.23$298.504.3%

Housing

ItemNewportNational avg.Difference
Home Price $130,800.00$175,700.0025.6%
Avg. Mortgage Payment $1,714.70$1,081.0358.6%
Apartment Rent $663.00$920.0027.9%

Transportation

ItemNewportNational avg.Difference
Gasoline $2.68$2.0928.1%
Tire Balancing $58.28$45.2928.7%

Utilities

ItemNewportNational avg.Difference
All Electricity$234.61$170.8037.4%
Phone $28.84$28.262.1%
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.
Troy, VT15393-7%
Newport Center, VT29995-5%
Barton, VT62195-5%
Coventry, VT11198-2%
Orleans, VT89898-2%
Newport, VT4,5351011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Armonk, NY4,535219119%
Unalaska, AK4,53614545%
Nikiski, AK4,53611818%
Ludlow, KY4,53387-13%
Mount Vernon, IA4,53296-4%
Newport, VT4,5351011%
Source: The Newport, VT cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.