Newport County · Rhode Island · Northeast · 25k residents
Newport, RI: economy, jobs & business costs
The site-selection read on Newport: labor costs, talent, corporate tax, energy, and business activity, with the Rhode Island median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $1,360/wk. Rhode Island's corporate income tax rate is 7%. Commercial electricity averages 21.1¢/kWh.
Compare Newport side by side
Avg. weekly wage
$1,360/wk
Corporate income tax
7%
Bachelor's degree or higher
57.9%
Commercial electricity
21.1¢/kWh
Economic momentum
How fast Newport's economy is moving, ranked against the US cities we track.
53/100
Steady
Ranks Newport's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $746,900 |
| Price per sq. ft. | $285 |
| Property tax rate | 1.4% |
| 1-bedroom rent | $977/mo |
| 2-bedroom rent | $1,805/mo |
| State & local income tax | 2.82% |
| Sales tax | 7% |
| Corporate income tax | 7% |
| Avg. weekly wage | $1,360/wk |
| Bachelor's degree or higher | 57.9% |
| Commercial electricity | 21.1¢/kWh |
| Businesses per 1k residents | 54.0/1k |
| Wage: Software developer | $130,690 |
| Wage: Registered nurse | $99,880 |
| Wage: General manager | $110,360 |
| Wage: Customer service | $47,170 |
| Wage: Warehouse worker | $36,640 |
| Wage: Heavy truck driver | $60,610 |
| Wage: Electrician | $73,980 |
| Wage: Retail salesperson | $35,230 |
| Cost of living index | 129 |
| Groceries index | 105 |
| Utilities | $220/mo |
| Transit pass | $70/mo |
| Gas price | $3.30/gal |
| Healthcare index | 104 |
| Childcare (per child) | $1,250/mo |
| Median household income | $86,313 |
| Unemployment rate | 4.2% |
| Population | 25k |
| Crime index | 30/100 |
| School rating | 6.2/10 |
| Walkability | 30/100 |
| Disaster risk | 36/100 |
| Avg. commute | 25 min |
| Sunny days / year | 200 days |
| July high | 80°F |
| January low | 24°F |
| Annual snowfall | — |
| Home price YoY | +8.2% |
| Home price MoM | 0.0% |
| Rent YoY | +6.1% |
| Rent MoM | -1.0% |
| Employment (jobs) YoY | +0.9% |
| Building permits YoY | -25.0% |
| Ocean coast | 4 mi |
| Big lake | 111 mi |
| Mountains | 124 mi |
| Major airport | 17 mi |
| Ski resort | 75 mi |
Popular comparisons
Nearby
- Warwick, RI · 83k
- Cranston, RI · 83k
- East Providence, RI · 47k
- Providence, RI · 192k
- Pawtucket, RI · 76k
Similar size
- Central Falls, RI · 23k
- Westerly, RI · 18k
- Woonsocket, RI · 44k
Real listings in Newport
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Newport a good place to run a business?
- Rhode Island's corporate income tax rate is 7%; average weekly wages in the surrounding labor market run $1,360/wk; commercial electricity averages 21.1¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Newport, RI?
- Newport indexes at 129 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,805/mo and a acs median home value of $746,900.
- How much does a house cost in Newport?
- The acs median home value in Newport is $746,900 (Census ACS estimate; individual listings vary).
- How much is rent in Newport?
- A two-bedroom in Newport rents for about $1,805/mo.