Newport-Middleton-Portsmouth, RI vs Westerly-Hopkinton-New Shoreham, RI
A 2-bedroom in Westerly-Hopkinton-New Shoreham costs $593 less per month than Newport-Middleton-Portsmouth ($1,721 vs $2,314). Median income is $100,859 in Newport-Middleton-Portsmouth and $85,646 in Westerly-Hopkinton-New Shoreham. That's a difference of $7,116 per year in housing costs.
Side-by-Side Comparison
| Metric | Newport-Middleton-Portsmouth | Westerly-Hopkinton-New Shoreham |
|---|---|---|
| Studio FMR | $1,752 | $1,353 |
| 1BR FMR | $1,764 | $1,362 |
| 2BR FMR | $2,314 | $1,721 |
| 3BR FMR | $3,131 | $2,146 |
| 4BR FMR | $3,595 | $2,326 |
| Median Income | $100,859 | $85,646 |
| Rent Burden | 27.5% | 24.1% |
| Actual Median Rent | $1,652 | $1,236 |
| Median Home Value | $559,700 | $385,900 |
| Population | 85K | 1.7M |
| Renter % | 32.6% | 37.1% |
| Vacancy Rate | 16.9% | 8.2% |
| Poverty Rate | 8.6% | 11.2% |
| Unemployment | 3.8% | - |
| YoY Change | +1.9% | +6.9% |
| Min Wage | $15.00/hr | $15.00/hr |
Income Required to Afford a 2-Bedroom
Frequently Asked Questions
Westerly-Hopkinton-New Shoreham, RI is more affordable with a 2BR FMR of $1,721/mo, which is $593 less than Newport-Middleton-Portsmouth at $2,314/mo. However, when considering local incomes, Newport-Middleton-Portsmouth has a rent burden of 27.5% vs 24.1% in Westerly-Hopkinton-New Shoreham.
A 2-bedroom in Newport-Middleton-Portsmouth, RI costs $2,314/mo at Fair Market Rent, while in Westerly-Hopkinton-New Shoreham, RI it's $1,721/mo, a difference of $593/mo or $7,116/year.
To afford a 2BR without spending more than 30% of income on rent: Newport-Middleton-Portsmouth requires $92,560/year ($45/hr). Westerly-Hopkinton-New Shoreham requires $68,840/year ($33/hr).