Total monthly cost of ownership
Cost to Own a Home in Newport East, Rhode Island
A $479,000 home here costs
$3,903per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $167,500 a year.
A standard mortgage calculator would have told you $2,612. The real number is $1,292 higher every month, 49% more than the payment most buyers budget for.
Compare Newport County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Newport East against Newport County and Rhode Island
| Measure | Newport East | Newport County |
|---|---|---|
| Median home value | $479,200 | $559,700 |
| Median property tax | $5,568 | $5,345 |
| Effective tax rate | 1.162% | 0.955% |
| Median gross rent | $1,784 | $1,652 |
| Population | 11,262 | 85,095 |
The weather behind that power bill
Newport East sits in Newport County, which averages a high of 79.6°F in its hottest month and a low of 24.1°F in its coldest, with 42.18" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 574 cooling and 5,520 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Newport County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Newport County
Full Newport County cost breakdown · Every county in Rhode Island
Talk to someone who works this market
These are Newport East averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Newport East every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Newport East I already own here and may sell
Common questions
How much does it cost to own a home in Newport East?
A $479,000 home in Newport East, Rhode Island costs approximately $3,903 per month with 20% down at 7.24%. That is $2,612 principal and interest, $464 property tax, $201 homeowners insurance, $228 utilities and $399 set aside for maintenance.
What is the property tax rate in Newport East?
Newport East has an effective property tax rate of 1.162%, based on a median home value of $479,200 and median real estate taxes of $5,568. That is higher than the Newport County average of 0.955%.
What is the average home price in Newport East?
The median owner-occupied home value in Newport East, Rhode Island is $479,200, against $559,700 across Newport County.
Is it cheaper to rent or buy in Newport East?
Median gross rent in Newport East is $1,784 a month, against $3,903 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Newport East?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Newport East, Rhode Island at today's rate takes a household income of roughly $167,500 a year. That covers the full $3,903 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Newport East, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Rhode Island.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.