The typical owner-occupied home in Newport is worth about $133,500, 53% below the Tennessee median of $286,700 and 60% below the national median of $332,700. Owners pay a median $1,314 a year in property taxes, about 0.98% of their home's value, higher than the Tennessee rate of 0.50%. The median household earns $31,250 a year, so the median home costs 4.3 times the median income (4.1 times for Tennessee). 56% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Newport at a glance
| Newport | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $133,500 | $286,700 | $332,700 |
| Median property tax paid per year | $1,314 | $1,442 | $3,119 |
| Property tax as a share of value | 0.98% | 0.50% | 0.94% |
| Median household income | $31,250 | $69,595 | $80,734 |
| Homes lived in by their owners | 56% | 67% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $994 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 23.8% | 19.6% | 21.0% |
| Median rent | $720 | $1,189 | $1,413 |
| Rent as a share of renters' income | 29.9% | 29.5% | 30.6% |
| Median year homes were built | 1973 | 1987 | 1980 |
| Vacant homes | 11.6% | 10.2% | 10.1% |
| Population | 6,881 | 7,066,383 | 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 $133,500 with 20% down costs about $883 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,106, 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 $37,847 for the 20%-down payment. That payment is 34% of the median Newport household income of $31,250; at that income and 20% down, the 28% guideline points to a home of about $110,000.
The median rent here is $720 a month, so owning the median home costs about $163 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,700 |
|---|---|
| Loan amount | $106,800 |
| Principal and interest | $718 |
| Property taxes (0.98% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $883 |
Change the numbers in the calculator
| Down payment | $4,672 |
|---|---|
| Loan amount | $131,082 |
| Principal and interest | $882 |
| Property taxes (0.98% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $59 |
| Total per month | $1,106 |
Change the numbers in the calculator
Questions about home buying in Newport
What is the median home value in Newport?
About $133,500 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 $1,314 a year, which is about 0.98% 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 $883 a month. Keeping that under 28% of gross income takes about $37,847 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