The typical owner-occupied home in Newport is worth about $219,700, 52% below the New Jersey median of $454,400 and 34% below the national median of $332,700. Owners pay a median $5,638 a year in property taxes, about 2.57% of their home's value, higher than the New Jersey rate of 2.11%. The median household earns $76,500 a year, so the median home costs 2.9 times the median income (4.4 times for New Jersey). 92% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Newport at a glance
| Newport | New Jersey | U.S. | |
|---|---|---|---|
| Median home value | $219,700 | $454,400 | $332,700 |
| Median property tax paid per year | $5,638 | $9,590 | $3,119 |
| Property tax as a share of value | 2.57% | 2.11% | 0.94% |
| Median household income | $76,500 | $103,556 | $80,734 |
| Homes lived in by their owners | 92% | 64% | 65% |
| Owner homes with a mortgage | 46% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,894 | $2,829 | $1,963 |
| Those costs as a share of the owners' income | 22.5% | 22.9% | 21.0% |
| Median rent | – | $1,720 | $1,413 |
| Median year homes were built | 1938 | 1970 | 1980 |
| Vacant homes | 12.8% | 7.5% | 10.1% |
| Population | 533 | 9,343,809 | 334,922,499 |
What a typical home costs per month in Newport
At this week's average 30-year rate of 7.11%, buying the median Newport home of $219,700 with 20% down costs about $1,744 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,110, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $74,761 for the 20%-down payment. That payment is 27% of the median Newport household income of $76,500; at that income and 20% down, the 28% guideline points to a home of about $225,000.
| Down payment | $43,940 |
|---|---|
| Loan amount | $175,760 |
| Principal and interest | $1,182 |
| Property taxes (2.57% a year) | $471 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| PMI | $0 |
| Total per month | $1,744 |
Change the numbers in the calculator
| Down payment | $7,690 |
|---|---|
| Loan amount | $215,721 |
| Principal and interest | $1,451 |
| Property taxes (2.57% a year) | $471 |
| Homeowners insurance (our estimate, 0.5% a year) | $92 |
| FHA mortgage insurance | $97 |
| Total per month | $2,110 |
Change the numbers in the calculator
Questions about home buying in Newport
What is the median home value in Newport?
About $219,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Newport?
Homeowners pay a median $5,638 a year, which is about 2.57% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Newport?
For the median home with 20% down at 7.11%, the payment is about $1,744 a month. Keeping that under 28% of gross income takes about $74,761 a year.
More about Newport
- Mortgage Refinance in Newport
- Debt Relief in Newport
- Home Equity Loans in Newport
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data