F
Overall 35%
Goods & Services 19%
Housing 79%
Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; 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.
IndexNewportRhode IslandNational
Cost of living135117100
Goods & Services119119100
Groceries110110100
Health care107107100
Housing179120100
Transportation106106100
Utilities126126100

Key findings

  • The cost of living in Newport is 15% higher than the Rhode Island average
  • The cost of living in Newport is 35% higher than the national average
  • Newport housing is 79% higher than the national average
  • Rhode Island general sales tax is 37% higher than the national average
  • Rhode Island state income tax is 52% higher than the national average

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Compare Newport, RI Cost of Living

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      Housing index
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      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$87,266$7,272$2,036$2,618
      Renters$38,333$3,194$894$1,150
      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 homeowners, is $87,266. This would allow for a maximum of $2,036 per month to be spent on housing costs. For renters, the median monthly income is $38,333 which would result in a maximum of $894 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%

      Goods & Services

      ItemNewportNational avg.Difference
      Haircut $24.44$18.6231.2%
      Beauty Salon $48.53$39.0524.3%
      Toothpaste $2.53$2.347.9%
      Shampoo $0.96$1.069.5%
      Movie $12.75$10.6819.3%
      Bowling $19.67$14.6734.1%

      Groceries

      ItemNewportNational avg.Difference
      Ground Beef $3.82$4.229.4%
      Fried Chicken $1.75$1.3926.5%
      Milk $2.52$2.0523.1%
      Potatoes $4.11$3.2924.9%
      Pizza $10.49$10.621.3%
      Beer $10.32$9.3810.0%

      Health Care

      ItemNewportNational avg.Difference
      Optometrist $131.39$108.5721.0%
      Doctor $157.87$116.1735.9%
      Dentist $92.75$99.136.4%
      Ibuprofen $9.76$9.680.8%
      Lipitor $408.27$466.9212.6%

      Housing

      ItemNewportNational avg.Difference
      Home Price $382,200.00$184,700.00106.9%
      Avg. Mortgage Payment $1,438.35$1,197.4220.1%
      Apartment Rent $1,096.00$949.0015.5%

      Transportation

      ItemNewportNational avg.Difference
      Gasoline $2.15$2.223.5%
      Tire Balancing $62.00$50.0723.8%

      Utilities

      ItemNewportNational avg.Difference
      All Electricity$240.57$167.6743.5%
      Phone $189.01$175.647.6%
      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, StatePopulationCost of Living IndexNational Avg.
      Tiverton, RI7,48611818%
      North Westport, MA4,69412323%
      Wakefield-Peacedale, RI8,90412525%
      Newport East, RI11,04212626%
      Kingston, RI6,89112828%
      Newport, RI24,57013535%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      New Smyrna Beach, FL24,5741022%
      South Salt Lake, UT24,57598-2%
      De Pere, WI24,54492-8%
      Northport, AL24,54495-5%
      Waverly, MI24,61792-8%
      Newport, RI24,57013535%
      Source: The Newport, RI cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.