Newport vs Providence
Side-by-side rent vs buy analysis comparing these two markets
Overall Comparison
Providence has an edge
Providence currently favors renting, with better rent-to-price dynamics.
Median Home Price
$746,144.08
Median Rent
$2,796.83/mo
Price-to-Rent Ratio
22.2
Property Tax RateTIE
1.63%
Price Change (1Y)BETTER
+4.0%
Price Change (5Y)BETTER
+20.3%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$426,457
Median Home PriceBETTER
$431,698.96
Median RentBETTER
$2,028.59/mo
Price-to-Rent RatioBETTER
17.7
Property Tax RateTIE
1.63%
Price Change (1Y)
+1.9%
Price Change (5Y)
+9.3%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$269,492
Key Differences
Home Prices
Newport's median home price of $746,144.08 is higher than Providence's $431,698.96 by 73%.
Monthly Rent
Renting in Newport costs $2,796.83/mo compared to $2,028.59/mo in Providence—a difference of $768.24/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.
Run Your Own Numbers
This comparison uses median values. Your income, savings, and goals matter. Use our Buy vs Rent calculator to get a personalized analysis.