Newport, RI—02840
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Newport, RI
As of Oct '25, the median home price in Newport, RI is $891,000, with a year-over-year change of 6.2%. This indicates that home prices in Newport, RI are increasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $891,000 | 6.2% |
| Single Family | $981,000 | 6.3% |
| Condos | $658,000 | 4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $507,000 | 5.8% |
2 Bed | $723,000 | 6.0% |
3 Bed | $949,000 | 6.2% |
4 Bed | $1,250,000 | 7.6% |
| 5 Bed | $2,377,000 | 9.8% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Newport, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Newport, RI is 58. This is a increase of 22.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,420,000 | -2.0% |
Listing Count | 108 | 27.0% |
| Listings as % of Homes | 0.5% | 27.0% |
Days on Market | 58 | 22.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,600 | 1.7% |
% Under 18 | 15.5% | 4.0% |
% Seniors | 21.9% | 19.0% |
% WFH | 14.4% | 105.7% |
% w/ College Degree | 55.1% | 3.2% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.3 |
| Median Home Price | $891,000 |
| Median Household Income | $83,500 |