Cost Of Living in Newport, NC

A+

4%

Overall NAT. AVG.

1%

Goods & Services NAT. AVG.

9%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Newport	North Carolina	National
Cost of living	96	94	100
Goods & Services	99	98	100
Groceries	98	98	100
Health care	112	108	100
Housing	91	85	100
Transportation	93	92	100
Utilities	98	94	100

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Cost Of Living Quick Facts

The cost of living in Newport is 3% higher than the North Carolina average
The cost of living in Newport is 4% lower than the national average
Newport housing is 9% lower than the national average
North Carolina general sales tax is 7% lower than the national average
North Carolina state income tax is 121% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$55,147	$4,596	$1,287	$1,655
Renters	$62,039	$5,170	$1,447	$1,861

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Newport, NC, 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 homeowners, is $55,147. This would allow for a maximum of $1,287 per month to be spent on housing costs. For renters, the median monthly income is $62,039 which would result in a maximum of $1,447 to be spent on rental costs.

North Carolina Sales Tax

State	General Sales Tax	With Max Surtax
North Carolina	4.75%	7.5%

North Carolina Income Tax

State	Income Tax (Low)	Income Tax (High)
North Carolina	4.99%	4.99%

Goods & Services

Item	Newport	National avg.	Difference
Haircut	$19.00	$24.26	21.7%
Beauty Salon	$29.58	$45.56	35.1%
Toothpaste	$3.65	$3.70	1.4%
Shampoo	$1.09	$1.28	15.1%
Movie	$10.27	$12.13	15.3%
Bowling	$11.00	$18.00	38.9%

Groceries

Item	Newport	National avg.	Difference
Ground Beef	$5.93	$5.84	1.5%
Fried Chicken	$1.59	$1.57	0.9%
Milk	$4.57	$4.67	2.1%
Potatoes	$5.18	$4.93	4.9%
Pizza	$10.47	$12.09	13.4%
Beer	$10.29	$10.41	1.1%

Health Care

Item	Newport	National avg.	Difference
Optometrist	$141.56	$125.68	12.6%
Doctor	$136.38	$135.78	0.4%
Dentist	$100.17	$113.29	11.6%
Ibuprofen	$10.24	$10.65	3.9%
Lipitor	$429.52	$468.60	8.3%

Housing

Item	Newport	National avg.	Difference
Home Price	$145,400.00	$184,700.00	21.3%
Avg. Mortgage Payment	$1,813.02	$2,346.69	22.7%
Apartment Rent	$1,135.00	$949.00	19.6%

Transportation

Item	Newport	National avg.	Difference
Gasoline	$3.45	$3.46	0.5%
Tire Balancing	$63.55	$59.92	6.1%

Utilities

Item	Newport	National avg.	Difference
All Electricity	$201.14	$193.99	3.7%
Phone	$187.32	$192.25	2.6%

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	Population	Cost of Living Index	National Avg.
Peletier, NC	652	91	9.0%
Havelock, NC	19,927	95	5.0%
Broad Creek, NC	2,306	98	1.8%
Beaufort, NC	4,382	102	1.5%
Bogue, NC	884	103	2.8%
Newport, NC	4,610	96	3.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Silverthorne, CO	4,610	141	40.8%
Sandy Oaks, TX	4,611	87	12.8%
Danville, PA	4,613	91	9.4%
Lake Goodwin, WA	4,613	147	46.6%
Altona, MB	4,613	n/a
Newport, NC	4,610	96	3.7%