Buying a home · Newport County
Data from November 2026
Buying a home in Newport County, Rhode Island
The typical home in Newport County is worth $609,700 by the Census (Average 2020–2024). At Freddie Mac’s 7.18% rate (November 5, 2026), an FHA loan with 3.5% down and the tax here, the payment would be about $5,031 a month. For it to be 28% of income, a household would need about $215,632 a year.
Four numbers to start with
- Typical home value
- $609,700
- Census median · Average 2020–2024
- 51% more than in Rhode Island
- Income for the typical home
- $215,632
- a year, at 7.18% (November 5, 2026)
- The typical household here earns $103,514 a year, less than that.
- FHA limit, 1 unit
- $787,750
- high-cost area, 2026
- Conforming limit: $832,750.
- Property tax
- 0.89%
- $5,414 a year for the typical owner
- 26% less than in Rhode Island
Only here
Buying a home in Newport County: what sets it apart
What this place has that others do not, from public data, most unusual first.
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Newport County has the lowest effective property tax rate of the 5 counties in Rhode Island: 0.89%.
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Newport County has the highest typical home value of the 5 counties in Rhode Island: $609,700.
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Newport County has the highest typical home value in its area: $609,700, more than any of its 4 neighboring counties; next is Bristol County ($513,800).
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7% of homes in Newport County (2,144) are in FEMA's high-risk flood zone, and only 45% of those carry NFIP flood insurance.
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From 2020 to 2025, home prices in Newport County rose 67% on FHFA's index, about the same as in Rhode Island (65%).
Sources: U.S. Census Bureau (Average 2020–2024); FEMA (As of August 3, 2026); FHFA (2025 data).
How much income you need
The income a home needs in Newport County
Three homes with the figures from here: the one the typical income ($103,514) reaches, the typical home ($609,700) and the most expensive one an FHA loan covers. All at 7.18% (November 5, 2026) and the property tax here (0.89% of value a year).
- The payment includes principal, interest, property tax, home insurance and FHA mortgage insurance (MIP).
- Home insurance is an example of 0.5% of the price a year. “To close” adds the down payment and an example of 3% of the price in closing costs.
- The income needed is the one that keeps the payment at 28% of pre-tax income. It is a reference: each lender decides with your debts, your credit and your savings.
| Home | Price | Income a year | Monthly payment | To close |
|---|---|---|---|---|
| What the typical income reachesthe payment is 28% of $103,514 a year | $292,500 | $103,448 | $2,414 | $19,013 |
| The typical homeCensus median · Average 2020–2024 | $609,700 | $215,632 | $5,031 | $39,631 |
| The most with FHAthe loan reaches the $787,750 limit | $816,321 | $288,707 | $6,737 | $53,061 |
Source: Freddie Mac, November 5, 2026 · Source: U.S. Census Bureau, Average 2020–2024 · Source: HUD, 2026 data
Loan limits
How much you can borrow in Newport County
This is a high-cost area, so FHA limits in Newport County are above the national floor. The limit is set for the whole metro area (Providence-Warwick, RI-Ma). If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.
FHA, one unit
$787,750
FHA high-cost area
Nationwide, the one-unit FHA limit runs from $541,287 to $1,299,500.
Source: HUD, 2026 data
Conforming, one unit
$832,750
Above this amount, a conventional loan is a “jumbo” loan. The national baseline limit applies here.
VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)
Source: FHFA, 2026 data
Buying a duplex or fourplex in Newport County
Loan limits for 2, 3 and 4 units in Newport County and HUD's Fair Market Rent by home size. HUD's rent is a reference, not a promise of what you will charge.
Loan limits in Newport County
| Units | FHA 2026 | Conforming 2026 |
|---|---|---|
| 2 units | $1,008,450 | $1,066,250 |
| 3 units | $1,219,000 | $1,288,800 |
| 4 units | $1,514,950 | $1,601,750 |
The FHA limit is the largest loan FHA can insure in this county; the conforming limit, the largest Fannie Mae and Freddie Mac can buy.
HUD Fair Market Rent in Newport-Middleton-Portsmouth, RI HUD Metro FMR Area
| Size | Fair Market Rent FY2027 |
|---|---|
| Studio | $1,904 |
| 1 bedroom | $1,916 |
| 2 bedrooms | $2,507 |
| 3 bedrooms | $3,327 |
| 4 bedrooms | $3,981 |
HUD's estimate of rent plus utilities (except telephone). A reference to compare with, not what you will charge.
Sources: HUD, FHA limits 2026 ↗ · FHFA, conforming limits 2026 ↗ · HUD, Fair Market Rents FY2027 ↗
FHA's rules for buying 2 to 4 units
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FHA insures loans on 1 to 4 unit properties that are the owner's principal residence. For 2 to 4 units, the lender must obtain form HUD-92561.
“Except as otherwise stated in this Handbook 4000.1, FHA’s Single Family programs are limited to one- to four-family Properties that are owner-occupied Principal Residences.”
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At least one borrower must move into the property within 60 days of signing and intend to live there at least 1 year.
“At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year.”
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The FHA loan may not pass your area's limit, which rises with the number of units. The limit is checked against the loan before the financed upfront mortgage insurance premium (UFMIP) is added.
“A Mortgage that is to be insured by FHA cannot exceed the Nationwide Mortgage Limits. … restrictions to mortgage amounts and LTVs are based upon the amount prior to the financing of the Upfront Mortgage Insurance Premium (UFMIP) (Base Loan Amount).”
Handbook 4000.1, II.A.2.a and II.A.2.a.iii, p. 177; p. 178 ↗
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The units' rent can count as income. With no rental history, the lender uses 75% of the lesser of the appraiser's rent or the lease rent. It may not subtract it from your payment.
“the Mortgagee must use 75 percent of the lesser of: fair market rent reported by the Appraiser; or the rent reflected in the lease or other rental agreement.”
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With 3 or 4 units, the payment (principal, interest, taxes and insurance) divided by the net rent of all units, yours included, may not pass 100%. Net rent is the appraiser's rent less the appraiser's vacancy and maintenance estimate or 25%, whichever is greater.
“The PITI divided by the monthly Net Self-Sufficiency Rental Income may not exceed 100 percent for three- to four-unit Properties. … Net Self-Sufficiency Rental Income is calculated by using the Appraiser’s estimate of fair market rent from all units, including the unit the Borrower chooses for occupancy, and subtracting the greater of the Appraiser’s estimate for vacancies and maintenance, or 25 percent of the fair market rent.”
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With 3 or 4 units, the lender must verify reserves of 3 months of payments after closing. With manual underwriting, it asks for 1 month for 1 or 2 units.
“The Mortgagee must verify and document Reserves equivalent to three months’ PITI after closing for three- to four-unit Properties.”
Handbook 4000.1, II.A.4.d.i(C)(2) and II.A.5.c.i(C)(1)–(2), p. 253; p. 332 ↗
Prices
How prices changed in Newport County
According to the FHFA House Price Index, home prices in Newport County rose 115% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.
| Year | Newport County | Rhode Island | United States |
|---|---|---|---|
| 2015 | 0.0% | 0.0% | 0.0% |
| 2016 | +3.9% | +4.7% | +5.3% |
| 2017 | +10.6% | +10.9% | +11.0% |
| 2018 | +17.7% | +17.9% | +17.3% |
| 2019 | +24.0% | +23.1% | +22.2% |
| 2020 | +28.5% | +28.5% | +25.9% |
| 2021 | +45.6% | +45.8% | +40.5% |
| 2022 | +69.2% | +68.8% | +62.2% |
| 2023 | +90.7% | +85.2% | +71.5% |
| 2024 | +101.3% | +101.2% | +79.9% |
| 2025 | +115.0% | +112.1% | +85.0% |
| Period | Here | Rhode Island | United States |
|---|---|---|---|
| In 2025 | +6.8% | +5.4% | +2.9% |
| 5 years (2020–2025) | +67% | +65% | +47% |
| 10 years (2015–2025) | +115% | +112% | +85% |
See each year's change
- 2020: +3.6%
- 2021: +13.3%
- 2022: +16.3%
- 2023: +12.7%
- 2024: +5.6%
- 2025: +6.8%
The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Property tax
Property tax in Newport County
In Newport County, the typical owner pays $5,414 a year: about 0.89% of the home's value. That is less than the rest of Rhode Island and less than the national average.
On the typical home ($609,700), that rate would be about $452 a month.
It is a Census estimate: what owners pay divided by their home’s value. Your bill depends on the assessment and the exemptions you claim.
Property tax
- Newport 0.89%
- Rhode Island 1.21%
- United States 0.94%
What Rhode Island publishes Homestead exemption from your city or town (Rhode Island General Assembly (Rhode Island General Laws, Title 44))
Figure your tax Exemptions and deadlines in Rhode IslandCalculator
Figure your payment in Newport County
It starts from the typical price, this week’s rate and the tax here. Change anything: your numbers stay in your browser.
Your numbers
Starts at the typical home value in Newport County. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
That is $21,340 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details
Estimated monthly payment
Local data$5,031
at 7.18% · 30 years
- Loan amount
- $598,656
- Total interest
- $861,326
- Paid off in
- November 2056
Includes $10,296 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,415 a month
Tight
$2,415 to $3,105 a month
Hard
more than $3,105 a month
Your payment · 58%
Compared with the typical household income in Newport County ($103,514 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
| Principal & interest | $4,056 |
|---|---|
| Property tax | $452 |
| Home insurance | $254 |
| FHA mortgage insurance (MIP) | $270 |
How does it compare with incomes?
For this payment to be 28% of your income, you'd need to earn about $215,632 a year. With your other debts, to stay under 36%: about $167,714 a year.
You need at least $21,340 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $5,031; principal and interest $4,056.
Down payment help
Programs that serve in Newport County
First the program from here; then the 2 statewide ones. Each program sets its own rules: check its official page.
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FirstGenHomeRI Central Falls, East Providence, Pawtucket, Woonsocket, Providence, Newport, Providence County, Newport County
Limited funds remain, per the source
$25,000
RIHousing pilot help of $25,000 for the down payment or closing costs of first-generation buyers who now live in certain cities; no interest or payments, and not repaid if you live in the home five years
First-time buyers only. Run by RIHousing. Verified November 5, 2026
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15kDPA All of Rhode Island
$15,000
Rhode Island state agency loan of $15,000 at 0% with no monthly payments for the down payment or closing costs of first-time buyers with a RIHousing mortgage; repaid when you sell or leave the home
First-time buyers only. Run by RIHousing. Verified November 5, 2026
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Extra Assistance All of Rhode Island
Up to 6% of the price, capped at $20,000
RIHousing second mortgage for first-time buyers, of up to 6% of the price or $20,000 (whichever is less) for the down payment, which you repay over 15 years at the same rate as your RIHousing mortgage
First-time buyers only. Run by RIHousing. Verified November 5, 2026
Which programs do I qualify for? See all Rhode Island programs
Housing counseling nearby
These are the nearest agencies, with the distance in miles. Many help by phone or online. Official HUD list. Confirm hours and fees with the agency before you go.
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West Elmwood Housing Development Corporation
224 Dexter St, Providence · 23 miles away · Spanish
- Mortgage delinquency and default
- Budget and financial counseling
- and 6 more
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Rhode Island Housing Help Center
44 Washington St, Providence · 23 miles away · Spanish
- Mortgage delinquency and default
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Providence Housing Authority
50 Laurel Hill Ave, Providence · 24 miles away · Spanish
Also serves in American Sign Language (ASL) and Portuguese.
- Budget and credit workshops
- Workshops for new owners
- and 2 more
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Pawtucket Central Falls Development Corporation
204 Broad St, Pawtucket · 27 miles away · Spanish
- Pre-purchase counseling
- Homebuyer education workshops
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Neighborworks Blackstone River Valley
719 Front St Unit 103, Woonsocket · 36 miles away · Spanish
- Mortgage delinquency and default
- Budget and financial counseling
- and 6 more
Guides
Guides to buying a home
- How to buy a home in the United States, step by step
- Down payment assistance: how it works
- How much do you need for a down payment?
- FHA loan: down payment, insurance, limits and who qualifies
- ITIN mortgages: what exists and what lenders ask for
- Closing costs explained: what you pay and what can change
- Buying a duplex or a home with an ADU to live with family
- HUD housing counselors: what they do and what they cost
Frequently asked questions
How much income do I need to buy a home in Newport County?
At Freddie Mac’s 7.18% rate (November 5, 2026), an FHA loan with 3.5% down and the tax here, the payment would be about $5,031 a month. For it to be 28% of income, a household would need about $215,632 a year. The income needed is the one that keeps the payment at 28% of pre-tax income. It is a reference: each lender decides with your debts, your credit and your savings.
What is the FHA loan limit in Newport County in 2026?
Newport County has an FHA limit of $787,750 for a one-unit home. For 2 units it's $1,008,450, for 3 it's $1,219,000 and for 4 it's $1,514,950. It's a high-cost area, so the limit is above the national floor.
How much have home prices changed in Newport County?
By FHFA’s house price index, home prices in Newport County rose 115% from 2015 to 2025.
How much is property tax in Newport County?
Newport County has a typical property tax of $5,414 a year, about 0.89% of the home's value (Average 2020–2024, U.S. Census).
Is there down payment help in Newport County?
First the program from here; then the 2 statewide ones. Each program sets its own rules: check its official page.
Where can I find free help in Spanish to buy a home in Newport County?
There are no HUD-approved agencies with an office in this county. The 5 nearest are on this page; 5 say they serve in Spanish.