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Average Rent in Newport, RI

Home  »  RI  »  Newport

Current Versus Historical Newport, RI Rents

Newport rentals average $0 for a studio rental to $12,000 for a 4-bedroom rental. The median price of all currently available listings is $4,500, or roughly $4 per square feet.
For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $880 (-30.56%) year-over-year from $2,880 to $2,000. 1-bedroom rentals prices have increased by $83 (3.38%) year-over-year from $2,467 to $2,550. 2-bedroom rentals prices have increased by $692 (20.91%) year-over-year from $3,308 to $4,000. 3-bedroom rentals prices have increased by $1,225 (36.03%) year-over-year from $3,400 to $4,625. 4-bedroom rentals prices have increased by $1,667 (20.00%) year-over-year from $8,333 to $10,000. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 10.09% this month. 1-bedroom rents have gone up by 13.33% this month. 2-bedroom rents have gone up by 6.67% this month. 3-bedroom rents have gone down by 8.26% this month. 4-bedroom rents have gone up by 22.45% this month.
Beds
Price / Sqft
 May 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
1 BR $4.14 $2,550 $2,467 (3.38%) $2,317 (10.07%)
2 BR $3.68 $4,000 $3,308 (20.91%) $2,183 (83.21%)
3 BR $3.85 $4,625 $3,400 (36.03%) $7,333 (-36.93%)
4+ BR $5.04 $10,000 $8,333 (20.00%) $6,417 (55.84%)

Historical Rents in Newport, RI

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Newport



Let's compare Newport, RI's rent against other top cities nearby by bedroom size.
City Studio 1 Bed 2 Bed All

Top Neighborhoods Near Newport



View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All

Top Counties Near Newport

The average rent for rentals in these counties is $4,200. That's roughly around $4 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Middletown, RI. It's average rent per month is $3,900. Vice versa, with an average rent of $4,500, Newport, RI is the most expensive county by Newport, RI.

Typically, rent for studios in Newport, RI is inf% more affordable than other counties nearby. In comparison, rent for one bedroom listings in Newport, RI is on par with the other counties nearby. Finally, rent for two bedrooms in Newport, RI is on par with the other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Middletown, RI $4,750 $2,500 $3,500 $3,900
Newport, RI N/A $2,500 $3,500 $4,500

Top Zipcodes Near Newport

There are a total of 2 zipcodes in or near Newport, RI. The average rent for all of these zipcodes is $4,200. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 02842, Newport East, RI at $3,900 per month. In comparison, the zipcode with the most expensive average rent of $4,500 per month is 02840, Newport, RI.

Studios in these zipcodes have an average rent of $2,375. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Newport, RI is $2,500 per month. Or in other words, $4 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,500 per month. Which comes out to $4 per sqft. The following chart includes the top 2 zipcodes in Newport, RI. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
02840, Newport, RI N/A $2,500 $3,500 $4,500
02842, Newport East, RI $4,750 $2,500 $3,500 $3,900

Frequently Asked Questions - Newport Average Rents

What is the average rent price in Newport, RI?
The average monthly rental price for Newport, RI apartments for rent is approximately $4,500. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Newport, RI rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Newport, RI.
How much is a studio apartment in Newport, RI?
The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 1 studio apartment listings currently available for rent in Newport.
How much is a one bedroom apartment in Newport, RI?
The average monthly rental price for one bedroom apartments is $2,500 and an average price per square feet of $4.14. There are a total of 27 one bedroom apartment listings currently available for rent in Newport.
How much is a two bedroom apartment in Newport, RI?
The average monthly rental price for two bedroom apartments is $3,500 and an average price per square feet of $3.68. There are a total of 85 two bedroom apartment listings currently available for rent in Newport.
How have rent prices in Newport, RI changed this year?
Rent prices for rentals in Newport, RI can fluctuate yearly. Specifically, studio rental prices have changed by -0.31%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by 0.21%, and three bedroom rental prices have changed by 0.36% year-over-year.
What is a reasonable rent price in Newport, RI?
A reasonable rent price in Newport, RI is around $3,600/month. You can search for these reasonably priced rental listings on RentHop.
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