Newport, RI

Population: 24,027
Average annual home appreciation rate: 10.29%
Total of homes for sale in this market: 202
Median home price: $395,370
Median Rent: $1,318 per room
Home price range: 28.63% of homes are between $306,001 – $409,000
Median sales price: $273,500
Number of homes: 20
Median foreclosure sales price: NO DATA
Foreclosure discount: NO DATA
Most common home type: 43.27% of homes are Single Family Detached
Number of vacant homes: 20.32%
Number of renters: 61.05%
Number of owner occupied: 38.95%
Number people living below poverty level: 10.78%
Unemployment rate: 4.40%
Is this area perfect for real estate deals going on right now? The Newport market has a higher percentage of renters than home owners…that means that a rental property in this area could be a great investment based on the high rental rates, and the higher than average unemployment rate…Which could mean retirees, or depressed market. Either way, it spell return on investment for the savvy buy and hold investor. Multiple vacant properties could spell opportunity.

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