Newport County Rhode Island Residential Rent and Rental Statistics
The median monthly gross residential rent in Newport County RI was $1,465 in 2019 according to the Census ACS survey.1 Average gross rent in Newport County was $1,337 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Newport County median and average rent data will be released in September of 2021.
Data is also available below for Newport County rental vacancy rates, Newport County rent as a percent of median income and the fraction of renters in Newport County.
Real Gross Rent in Newport County Rhode Island (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Rhode Island Median Gross Rent | $1,043 | +2.66% | +5.04% |
| Newport County RI Median Gross Rent | $1,465 | +17.58% | +17.48% |
Newport County RI Real Gross Rent Trends
At $1,465, real median gross rent in Newport County was at its highest level in 2019 since the series began in 2005. Average gross rent for Newport County peaked in real terms in 2009 at $1,352 and is now $15 (1.11%) lower.
Real Gross Rent: Newport County RI Median, Newport County RI Average, Rhode Island Median, US Median
Real Gross Rent History for Newport County
| Date | US Median |
Rhode Island Median |
Newport County RI Median |
Newport County RI Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,043 | $1,465 | $1,337 |
| 2018 | $1,077 | $1,016 | $1,246 | $1,243 |
| 2017 | $1,043 | $970 | $1,304 | $1,306 |
| 2016 | $1,027 | $993 | $1,247 | $1,265 |
| 2015 | $1,017 | $995 | $1,061 | $1,068 |
| 2014 | $986 | $986 | $1,198 | $1,240 |
| 2013 | $953 | $967 | $1,186 | $1,263 |
| 2012 | $940 | $934 | $1,113 | $1,070 |
| 2011 | $941 | $945 | $1,164 | $1,197 |
| 2010 | $955 | $970 | $1,249 | $1,350 |
| 2009 | $960 | $1,014 | $1,305 | $1,352 |
| 2007 | $927 | $975 | $1,254 | $1,321 |
| 2005 | $910 | $969 | $1,010 | $1,056 |
Newport County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Newport County Rhode Island was 16.43% according to Census ACS data.
Rental Vacancy Rate in Newport County Rhode Island
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Rhode Island | 6.98% | +0.65% | +2.41% |
| Newport County RI | 16.43% | +0.70% | — |
Trends in Newport County RI Rental Vacancy Rate
At 16.43%, Newport County residential rental vacancy rate in 2019 is at the highest point since 2005, the beginning of our reporting for this series.
Rental Vacancy Rate: Newport County RI, Rhode Island, US
Historical Rental Vacancy Rate data for Newport County
| Date | US | Rhode Island | Newport County RI |
|---|---|---|---|
| 2019 | 5.97% | 6.98% | 16.43% |
| 2018 | 6.15% | 6.33% | 15.73% |
| 2017 | 6.18% | 4.87% | 5.31% |
| 2016 | 5.89% | 4.57% | — |
| 2015 | 5.85% | 6.43% | 9.99% |
| 2014 | 6.32% | 6.18% | 3.72% |
| 2013 | 6.49% | 6.98% | — |
| 2012 | 6.77% | 5.52% | — |
| 2011 | 7.40% | 5.80% | — |
| 2010 | 8.17% | 9.47% | 9.10% |
| 2009 | 8.43% | 6.80% | 4.33% |
| 2007 | 7.87% | 7.77% | 10.14% |
| 2005 | 7.74% | 6.82% | — |
Rent as a Fraction of Income
Using median household income data for Newport County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Newport County, median monthly gross rent as a fraction of median household income was 21.53% in 2019 according to the ACS.
Newport County Rhode Island Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Rhode Island | 17.59% | -1.03% | -1.19% |
| Newport County RI | 21.53% | +4.01% | +2.11% |
Trends in Newport County RI Rent as a Fraction of Income
Newport County renters paid 21.53% of median household income towards the median monthly gross rent in 2019. This is the highest fraction of median household income going to rent since the series originated in 2005.
Fraction of Income towards Rent: Newport County RI, Rhode Island, US
Historical Data for Annual Rent as a Fraction of Income in Newport County Rhode Island
| Date | US | Rhode Island | Newport County RI |
|---|---|---|---|
| 2019 | 20.03% | 17.59% | 21.53% |
| 2018 | 20.50% | 18.61% | 17.52% |
| 2017 | 20.13% | 17.68% | 18.92% |
| 2016 | 20.43% | 18.77% | 19.42% |
| 2015 | 20.63% | 19.38% | 18.17% |
| 2014 | 20.89% | 20.42% | 18.97% |
| 2013 | 20.78% | 19.71% | 19.22% |
| 2012 | 20.65% | 19.31% | 19.37% |
| 2011 | 20.70% | 19.58% | 18.72% |
| 2010 | 20.50% | 19.93% | 17.79% |
| 2009 | 20.12% | 19.73% | 21.38% |
| 2007 | 18.66% | 18.59% | 20.42% |
| 2005 | 18.89% | 18.07% | 16.59% |
Renter Fraction in Newport County Rhode Island
You can calculate the renter fraction in Newport County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Newport County as a fraction of total Newport County households. In 2019 34.74% of households were renters according to Census ACS data.
Newport County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Rhode Island | 38.32% | +0.14% | -3.65% |
| Newport County RI | 34.74% | -0.47% | -6.15% |
Trends in the Newport County RI Renter Fraction
The Newport County household renter fraction peaked in in 2016 at 40.89% and is now 6.15% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Newport County RI, Rhode Island, US
History of Newport County Renter Fraction
| Date | US | Rhode Island | Newport County RI |
|---|---|---|---|
| 2019 | 35.89% | 38.32% | 34.74% |
| 2018 | 36.05% | 38.18% | 35.21% |
| 2017 | 36.13% | 39.15% | 37.32% |
| 2016 | 36.88% | 41.97% | 40.89% |
| 2015 | 36.97% | 40.95% | 39.22% |
| 2014 | 36.90% | 41.20% | 39.87% |
| 2013 | 36.50% | 39.61% | 36.46% |
| 2012 | 36.09% | 40.01% | 38.62% |
| 2011 | 35.42% | 39.42% | 36.77% |
| 2010 | 34.65% | 39.22% | 37.14% |
| 2009 | 34.13% | 36.59% | 40.31% |
| 2007 | 32.80% | 36.40% | 34.94% |
| 2005 | 33.10% | 37.29% | 34.90% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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