Newport, Rhode Island is a charming coastal town located on Aquidneck Island in Narragansett Bay. It’s known for its beautiful beaches, historic mansions, and lively downtown area. If you’re considering moving to Newport, here are a few things you should know:
- Housing: The median home price in Newport is around $500,000, which is higher than the national average. Rent prices are also above average, with a one-bedroom apartment averaging around $1,500 per month.
- Groceries: Grocery prices in Newport are similar to the national average.
- Healthcare: Healthcare costs in Newport are generally higher than the national average.
- Transportation: The average cost of gasoline in Newport is similar to the national average. Public transportation is also available through the MBTA, with a monthly pass costing around $90.
- Taxes: Rhode Island has a relatively high state tax rate, and Newport has a local property tax rate of around $17 per $1,000 of assessed value.
- Job market: Newport has a diverse economy, with a mix of tourism, healthcare, education, and technology industries. The unemployment rate is similar to the national average.
- Quality of life: Newport has a high quality of life, with excellent schools, a low crime rate, and plenty of recreational activities.
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