Cost of Living in Newport, NJ

With a cost of living index of 97, Newport, NJ is slightly more affordable than average. Living here is 3% cheaper than the national average and 30% below the New Jersey state average of 128. Newport is a small community of 551 residents.

Housing costs are the biggest factor in Newport's cost of living. The median monthly rent is $1,594 (21% above the US median of $1,319), and the median home value sits at $197,500 (35% below the national median of $304,900). At current prices, the median home costs roughly 3.1x the median household income — a moderately affordable ratio by today's standards.

The median household income in Newport is $64,327, which is 14% lower than the national median of $75,149. Residents spend roughly 30% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Everyday prices in the Vineland, NJ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.