Newport County Real Estate and Livability Trends
Newport County, Rhode Island, presents a compelling real estate market with a notable rise in median home values from $349,200 in 2015 to $503,700 in 2022, outpacing state and national figures significantly. The increase in average taxable income per tax return, climbing to $112,866.91 by 2021, suggests enhanced economic vitality, potentially driving property appraisals and attracting investors.... Read more
Newport County Market Trends
Newport County, Rhode Island's real estate market has shown a remarkable surge in median home values, jumping from $349,200 in 2015 to $503,700 in 2022, outpacing the state median and national figures considerably. Investors might find this spike attractive, signaling robust appreciation rates. Additionally, residential energy tax credits have seen dramatic fluctuations, peaking at $4,432.14 in... Read more
Median Value of Occupied Housing Units in Newport County, Rhode Island Over the Last 8 Years
Newport County, Rhode Island has experienced a significant increase in median home values over the last eight years, with an impressive jump from $349,200 in 2015 to $503,700 in 2022. Compared to the statewide median of $343,100 in 2022, Newport County's housing market appears to be thriving, potentially offering lucrative investment opportunities. When stacked against national figures, where the median home value in 2022 stood at $179,400, Newport County's market looks even more attractive for those seeking robust appreciation in property values.
Residential Energy Tax Credit Per Tax Return in Newport County, RI Over the Last 9 Years
Newport County, Rhode Island has seen significant fluctuations in the average residential energy tax credit per tax return over the past nine years. From a modest $443.31 in 2013, the credit peaked dramatically at $4432.14 in 2018 before settling around the $2000 range in recent years. This trend suggests a growing emphasis on energy-efficient home improvements, likely driven by regional policies and incentives. Investors and real estate professionals might find this indicative of a broader shift towards sustainability in local housing, a factor that could influence property valuations and insurance considerations.
Average Real Estate Taxes Per Tax Return in Newport County, RI Over the Last 10 Years
Average real estate taxes per tax return in Newport County, Rhode Island have shown a steady increase over the past decade, starting around $5,781.94 in 2012 and reaching approximately $8,203.82 in 2021. This hike could indicate rising property values and potentially improved amenities or services in the area. For potential homeowners and investors, this trend might be a double-edged sword—reflecting both increased home equity and higher carrying costs. Insurance agents and appraisers should stay mindful of these escalating figures which influence property valuations and insurance premiums. Real estate professionals might find this data useful in illustrating market growth and justifying higher price points, while existing residents should be prepared for steadily increasing tax obligations.
Percentage of Farm Returns in Newport County, RI Over the Last 10 Years
Farm tax returns in Newport County, Rhode Island have shown a slight yet steady increase over the last decade. Starting at roughly 0.28% in 2012 and peaking to about 0.33% in 2014, percentages have generally remained stable, hovering around 0.30% from 2015 to 2021. This matters for potential investors or builders because it suggests a consistent, albeit modest, level of agricultural activity, which could point toward stable rural development and land use trends. For those looking to move or invest, it may imply opportunities or limitations in agricultural property investments.
Number of Mortgages by Occupancy Type in Newport County, RI Over the Last 5 Years in Newport County
Over the past five years, Newport County, Rhode Island has seen a clear dominance of mortgages for principal residences compared to second residences and investment properties. Notably, the number of principal residence mortgages spiked in 2020 before declining gradually. Investment properties saw a peak in 2021, which then sharply decreased by 2022. Second residences witnessed a minor drop from 2021 to 2022. These shifts in mortgage trends can be crucial for potential investors, real estate agents, and insurance professionals as they indicate changing local housing demands and financial priorities, which could inform risk assessments, property values, and investment opportunities in the area. Understanding these trends helps predict market stability and potential returns on investment in Newport County.
Economic Outlook
Newport County, Rhode Island, shows a significant rise in average taxable income per tax return, climbing from $72,787.12 in 2013 to $112,866.91 in 2021, which implies increased economic vitality. This could potentially drive property appraisals and attract investors. Concurrently, average state and local income taxes have fluctuated, peaking at nearly $18,000.00 in 2020, likely impacting household financial decisions. The county's poverty rate, which dropped to 5.8% in 2022, well below the... Read more
Average Taxable Income per Tax Return in Newport County, RI over the last 9 years
Newport County, Rhode Island, has experienced a notable upward trend in average taxable income per tax return over the past nine years. Starting at around $72,787.12 in 2013, there have been steady increases with a significant jump to $112,866.91 in 2021. This upward trajectory suggests growing economic prosperity and potentially rising living standards, which could be attractive for investors, real estate developers, and potential residents. Such increasing income trends may impact property appraisals, insurance rates, and investment decisions in the area.
Average State and Local Income Taxes Per Tax Return in Newport County, RI Over the Last 10 Years
Over the past decade, Newport County, Rhode Island has seen a notable fluctuation in average state and local income taxes per tax return. From a stable range around $8,000.00 in the early years, there was a significant jump to over $16,000.00 by 2019. The peak reached almost $18,000.00 in 2020, before a slight drop in 2021 to approximately $16,549.36. This variation likely reflects changes in household incomes, tax policies, or both, influencing financial decisions for potential investors, homeowners, and those involved in real estate and insurance within the county.
Average Total Tax Liability Per Tax Return in Newport County, RI Over the Last 10 Years
Over the past decade, Newport County, Rhode Island has seen notable fluctuations in average total tax liability per tax return, peaking at $21,989.30 in 2021. The increase between 2019 and 2021 suggests a growing economic footprint or changes in the tax landscape. These trends might signify evolving economic conditions or demographic shifts, potentially making the area more attractive for investments, especially in real estate. For those planning to build or invest, understanding these tax liability trends can provide insights into the financial commitments required in Newport County.
Cost of Living in Newport County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $3,033 | $1,834 | $1,483 | $2,433 | $2,471 |
| 1 adult 4 children | $3,033 | $1,498 | $1,138 | $2,433 | $2,565 |
| 2 adults 3 children | $3,033 | $1,498 | $1,285 | $2,433 | $2,237 |
| 1 adult 3 children | $3,033 | $1,223 | $940 | $2,433 | $2,359 |
| 2 adults 2 children | $2,312 | $1,226 | $1,086 | $2,171 | $1,682 |
| 1 adult 2 children | $2,312 | $916 | $741 | $2,171 | $1,817 |
| 2 adults 1 child | $2,312 | $969 | $888 | $1,322 | $1,390 |
| 1 adult 1 child | $2,312 | $626 | $543 | $1,322 | $1,437 |
| 2 adults | $1,817 | $779 | $690 | $0 | $934 |
| 1 adult | $1,749 | $425 | $345 | $0 | $900 |
Safety trends & Data
Newport County, Rhode Island has experienced fluctuating property crime trends over the past five years. Larceny-theft has been most common, peaking at 129 incidents in 2018 and dropping to 71 by 2022. Vandalism hit a high of 107 cases in 2022, indicating an upward trend. Burglary saw a notable dip to 16 incidents in 2020 but spiked to 47 in 2021. Motor vehicle thefts have been relatively stable, ranging from 8 to 16 incidents. Investors, real estate agents, and homeowners should be aware of... Read more
Property Crime Trends in Newport County, RI Over the Last 5 Years
Newport County, Rhode Island has seen fluctuating trends in property crimes over the past five years. Larceny-theft has consistently been the most prevalent, peaking at 129 incidents in 2018, before a gradual decrease to 71 in 2022. Vandalism incidents reached their highest in 2022 with 107 cases, following a general upward trend. Burglary numbers have varied, with a notable dip in 2020 to 16 incidents, but spiking again to 47 by 2021. Motor vehicle thefts have remained relatively stable, experiencing minor variations between 8 and 16 incidents. Potential investors, real estate agents, and homeowners should recognize the dynamic nature of property crime, which could impact property values, insurance premiums, and overall community safety.
Demographics
Newport County, Rhode Island shows interesting demographic trends, underscoring both stability and diversity. The gender split is relatively balanced, with slightly more females than males. Age distribution reflects a sizable proportion of older adults, particularly those aged 55 to 64 years, which may have implications for healthcare and retirement services. Most residents have completed high school, and there is a notable percentage holding bachelor’s or higher degrees, indicating a... Read more
Race Distribution in Newport County, Rhode Island (2022)
Educational Attainment in Newport County, Rhode Island (2022)
Age Distribution in Newport County, Rhode Island
Citizen Population in Newport County, Rhode Island (2022)
Political Trends & Data
Newport County, Rhode Island shows a noticeable Democratic tilt, with around 64% of the vote in the 2020 U.S. Presidential Election favoring the Democratic party. Republicans lagged behind at approximately 34%, and minor parties barely made a dent with about 2%. This Democratic dominance might influence local policy trends and the cultural climate, hinting at community support for progressive and liberal... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Newport County, Rhode Island, the Democratic party likely held a significant lead in the 2020 U.S. Presidential Election with approximately 64% of the vote. Republicans seemed to trail with around 34%, while the Libertarian and other minor parties combined might have barely scratched 2%. This potentially indicates a strong Democratic leaning in this area, possibly shaping local policies and cultural attitudes.
34.07% of voters voted for the Republican party in the 2020 Presidential Election
63.89% of voters voted for the Democrat party in the 2020 Presidential Election
1.09% of voters voted for the Livertarian party in the 2020 Presidential Election
0.94% of voters voted for the Other party in the 2020 Presidential Election
School Data
Over the past decade, Newport County, Rhode Island, has seen its student-to-teacher ratio drop from around fifteen students per teacher in 2015 to near eleven in 2023. This trend toward smaller class sizes hints at a commitment to personalized education, a point of interest for families, real estate agents, and investors. With ratios now below the national average of fourteen, Newport County stands out as an appealing location for those who prioritize favorable schooling... Read more
Student-to-teacher ratio in Newport County, Rhode Island over the last 10 years
Over the past decade, Newport County, Rhode Island, has seen fluctuations in its student-to-teacher ratio, with values ranging from a high of around fifteen students per teacher in 2015 to a low near eleven in 2023. Notably, in 2017 and 2020 the ratio dipped to just above eleven, reflecting a trend toward smaller class sizes, which has generally held steady in recent years. This trajectory suggests a potential focus on more personalized education and could be of interest to families considering relocation, real estate agents targeting educational quality, or investors prioritizing communities with favorable schooling conditions. Significantly, Newport County's recent ratios fall below the current national average of fourteen students per teacher, positioning it as an attractive area for those valuing lower student-to-teacher interactions.
