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According to statistics, the population in Newport, RI amounts to 24,745, which shows decline 1% compared to the previous year. The median age of the city’s residents is 36. The average household income is $65,365, shifting growth 9% from the past year, and the average property value in Newport, RI growth 6% to $405,700 throughout the year.
|Number Of Employees||12,470|
|Median Property Value||$405,700|
The average household income in Newport, RI grew from $59,794 to $65,365 in the past year. This data is an estimate based upon 10,523 households in Newport, RI . The chart below presents how household income is distributed in Newport, RI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Newport, RI shifted from $382,200 to $405,700 throughout the year. The subsequent graph indicates the share of properties in the given price range in Newport, RI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Newport, RI properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Newport, RI compared to median property taxes around the country. The prevalent amount of property taxes in Newport, RI equals $3000, which is less than the national average.
|Apartment Size||Jun||vs Last Month|
|1 bed apartments||$404,750||N/A|
|2 bed apartments||$409,000||N/A|
|3 bed apartments||$838,333||+28.8%|
|4+ bed apartments||$1,089,414||-10.9%|
During Jun 2021, the average price for an apartment in/near Newport, RI increased by 40.6% to $1,014,090.
After collecting all data points, we now see that the average price for 1-bed apartment stands at $404,750 with no changes this month. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $409,000. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $838,333. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $1,089,414 for a big-family home.
|Listing Type||Jun||vs Last Month|
|Condos for sale||$404,750||N/A|
|Houses for sale||$692,000||+29.5%|
|Lofts for sale||$464,000||N/A|
|Apartments for sale||$1,094,612||-1.6%|
While assessing the property pricing Newport, RI, you can note that it remains flat with a price tag of $1,094,612. According to statistics, average house is still $692,000 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $404,750. The price statistics of lofts have not significantly changed, it now still goes for $464,000.
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