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Newport, RI—02840

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$893,000
6.4% YoY Growth
Household Income
$83,500
28.6% YoY Growth
Days on Market
80
33.0% Longer YoY
Home Price Forecast
4.3%
Median Rent
$3,250
0.5% YoY Growth
1-Bed Rent
$2,500
13.4% YoY Growth
2-Bed Rent
$2,850
4.9% YoY Growth
3-Bed Rent
$3,750
4.9% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Newport, RI

As of Dec '25, the median home price in Newport, RI is $893,000, with a year-over-year change of 6.4%. This indicates that home prices in Newport, RI are increasing. According to Zillow, the 1-year price projection is 4.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$893,0006.4%
Single Family $990,0007.1%
Condos $660,0005.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $508,000
    6.5%
    2 Bed
    		$726,0006.8%
    3 Bed
    		$949,0007.1%
    4 Bed
    		$1,254,0008.6%
    5 Bed $2,361,38311.3%
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    % of Housing Stock

    Studio
    5.1%
    1 Bedroom
    15.2%
    2 Bedrooms
    35.5%
    3 Bedrooms
    26.7%
    4 Bedrooms
    12.0%
    5+ Bedrooms
    5.5%

    Rental Trends — Newport, RI

    As of July '25, Rentcast reports the average rent in Newport, RI is $4,020, with a year-over-year rent change of -0.5%. Per bedroom, the median rent as of July '25 in Newport, RI is studios: $1,750, 1-bedrooms: $2,880, 2-bedrooms: $3,490, 3-bedrooms: $4,510, 4-bedrooms: $6,090. The most common rental property sizes in Newport, RI are 2-bedroom and 1-bedroom, accounting for 40.4% and 27.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$3,250$4,020
    Studio Rent $1,750$1,750
    1 Bed Rent $2,500$2,880
    2 Bed Rent $2,850$3,490
    3 Bed Rent $3,750$4,510
    4 Bed Rent $5,000$6,090
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    % of Rental Stock

    Studio
    7.3%
    1 Bedroom
    27.4%
    2 Bedrooms
    40.4%
    3 Bedrooms
    15.9%
    4 Bedrooms
    7.0%
    5+ Bedrooms
    2.0%

    Property Listings — Newport, RI

    As of Dec '25, Realtor.com reports that the median days on market for a home in Newport, RI is 61. This is a increase of 24.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 7.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,380,0005.0%
    Listing Count
    		725.0%
    Listings as % of Homes0.5%5.0%
    Days on Market
    		8033.0%
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    Demographics — Newport, RI

    As of the latest ACS Survey released in 2023, Newport, RI has a population of 23,600, which has increased by 1.7% over the past 5 years. Newport, RI is a moderately popular place for families, as children make up 15.5% of the population. The area has a highly educated workforce, with 55.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		23,6001.7%
    % Under 18
    		15.5%4.0%
    % Seniors
    		21.9%19.0%
    % WFH
    		14.4%105.7%
    % w/ College Degree
    		55.1%3.2%
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    As of the latest ACS Survey released in 2023, Newport, RI is a predominantly white area, with 74.4% of the population identifying as white. The white population has shrunk by 3.8% in the last 5 years. The second most common race or ethnicity in Newport, RI is hispanic, making up 10.6% of the population. Foreign-born residents account for 7.6% of the population in Newport, RI, and this percentage has decreased by 2.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		74.4%-3.8%
    % Black
    		8.1%35.0%
    % Hispanic
    		10.6%2.9%
    % Asian
    		2.6%36.8%
    % Foreign Born
    		7.6%-2.6%
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    Mortgage and Risk — Newport, RI

    According to HUD data as of 2023, there were 314 mortgage originations in Newport, RI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Newport, RI. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		314
    % Conventional Loans
    		95.0%
    % Government Loans
    		5.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		19.0%
    % Cash Out Refinance
    		12.0%
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    Rentals and Section 8 — Newport, RI

    As of 2024, the percent of homes in Newport, RI under the Section 8 program is 22.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Newport, RI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		1,834
    Total Units Section 8
    		1,182
    % Rentals under Section 8
    		22.1%
    % Occupied Section 8
    		83.6%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$820$2,500$1,680
    2 Bedroom-$640$2,850$2,210
    3 Bedroom-$800$3,750$2,950
    4 Bedroom-$1,660$5,000$3,340

    Affordability — Newport, RI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio9.2
    Median Home Price$893,000
    Median Household Income$83,500

    Newport, RI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Newport

    02841

    Middletown, RI

    02842

    Jamestown, RI

    02835

    Portsmouth, RI

    02871

    North Kingstown, RI

    02874

    Frequently Asked Questions