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||Jul||vs Last Month|
|1 bed for sale||$509,333||-1.4%|
|2 bed for sale||$207,191||-70.5%|
|3 bed for sale||$301,649||-70.5%|
|4+ bed for sale||$504,651||-79%|
During Jul 2022, the average price for an apartment in/near Newport, RI decreased by 74.1% to $407,333.
After collecting all data points, we now see that the average price for 1-bed apartment decreased by 1.4% to $509,333. Asking price for 2-bed apartment also decreased by 70.5% and a place of this size will now cost you $207,191. A 3-bed apartment goes for $301,649, it decreased by 70.5% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 79% and made it down to $504,651.
|Listing Type||Jul||vs Last Month|
|Townhouses for sale||$825,000||-39.7%|
|Houses for sale||$2,186,793||+15.2%|
|Condos for sale||$1,378,150||+60.9%|
|Land for sale||$661,666||N/A|
|Apartments for sale||$43,877||N/A|
While assessing the property pricing Newport, RI, you can note that it remains flat with a price tag of $43,877. Price reports demonstrate that house price increased by 15.2% this month making it up to $2,186,793. Condos are really in demand in this season. The median price for a condo increased by 60.9%, it’s now available for $1,378,150. The property value of townhouses decreased by 39.7%, you’ll have to spend around $825,000 to get one.