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ZIP Code · RI

ZIP 02840

Part of Newport, RI
Pop. 23,448·Newport County·4th most expensive ZIP in Rhode Island
Median rent (all units)
$3,166/mo
Year-over-Year
+0.1%
Month-over-Month
-0.3%
vs US Median
+$1,201
Stable (Monthly)
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Most AffordableMost Expensive
ZIP 02840 · $3,166
More expensive than 92% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,800
1 BR
$1,810
2 BR
$2,380
3 BR
$3,220
4 BR+
$3,700
Research median
$2,380/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$37,992/yr
At $3,166/mo median
Location
StateRI
CountyNewport County
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.1% YoY, -0.3% MoM), not inventory.
Demographics

Who lives here

ZIP 02840 (Newport, RI) is roughly split between renters and owners, skews toward younger working-age adults, 57.2% of residents hold a bachelor's degree or higher.

Population
23,448
Median income
$86,250
Median age
40.3
Renters
50.2%
Age distribution
14.2%
30.3%
20.9%
23.5%
Under 1814.2%
18–3430.3%
35–5420.9%
55–6411.1%
65+23.5%
Gender
45.4%
54.6%
Male45.4%
Female54.6%
Race & ethnicity
76%
White76%
Black6.2%
Hispanic10.5%
Asian2.3%
Other5%
Education (25+)
18%
20.8%
57.2%
No HS diploma3.9%
HS diploma18%
Some college20.8%
Bachelor's+57.2%
Housing tenure
49.8%
50.2%
Owner49.8%
Renter50.2%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 02840 in Newport, RI has changed in 5 years

Rent
$2,197 → $3,166
up 44.1%
Income
$77,042 → $86,250
up 12.0%
Population
23,460 → 23,448
down 0.1%
Renter share
53.7% → 50.2%
-3.5 pts
Bachelor's+
54.5% → 57.2%
+2.7 pts
Median age
37.7 → 40.3
+2.6 yrs

Compared with 2021, rent in ZIP 02840 in Newport, RI has climbed by $969 per month, settling near $3,166 after starting the period at $2,197. On the earnings side, the typical household in ZIP 02840 in Newport, RI now reports about $86,250, up from $77,042 in 2021. Rent outpaced income growth by roughly 32.1 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 50.2% of households rent today, against 53.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 54.5% to 57.2%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 02840 in Newport, RI reflects that arc in its own way.

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Local insights

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About renting in ZIP 02840

Last updated: July 20, 2026

ZIP code 02840 covers Newport, RI. The median rent here is $3,166/mo as of July 2026. A 1-bedroom rents for a median of $1,810/mo. A 2-bedroom rents for a median of $2,380/mo.

At 44% of local median household income ($86,250/yr), ZIP 02840 ranks as moderate compared to the national benchmark of 30%. Rents have increased 0.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 02840?

As of July 20, 2026, the median monthly rent in ZIP 02840 (Newport, RI) is $3,166. This is based on aggregated data from public sources and community submissions.

How does ZIP 02840 rent compare to the US average?

ZIP 02840's median rent of $3,166/mo is $1,201 (61%) above the US national median of $1,965/mo.

How does ZIP 02840 compare to other ZIPs in Rhode Island?

ZIP 02840 is one of the pricier ZIP codes in Rhode Island, ranking #4 out of 34 ZIPs tracked at $3,166/mo.

How much income do you need to rent in ZIP 02840?

To keep rent at or below 30% of gross income, you would need to earn at least $127,000/year (~$61/hour full-time) to afford the median rent of $3,166/mo in ZIP 02840. The local median household income is $86,250/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 02840?

Rent in ZIP 02840 has been relatively stable over the past year, with a 0.1% change year over year as of July 20, 2026.

Is ZIP 02840 an affordable place to rent?

ZIP 02840 is considered stretched for renters. At $3,166/mo, rent takes approximately 44% of the local median household income ($86,250/yr). The standard benchmark is 30%. ZIP 02840 significantly exceeds that threshold, making it challenging for many renters.

What percentage of ZIP 02840 residents rent vs. own?

According to Census data, approximately 50.2% of ZIP 02840 households are renters, while 49.8% are owner-occupied. With a majority renter population, ZIP 02840 has a strong rental market.

How does ZIP 02840 compare to the rest of Newport?

ZIP 02840 is pricier than Newport as a whole. At $3,166/mo, it's $3 above the Newport citywide median of $3,163/mo.

When was rent data for ZIP 02840 last updated?

Rent data for ZIP 02840 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
44%
STRETCHED

At $3,166/mo, rent takes ~44% of ZIP 02840's median household income ($86,250/yr). The standard benchmark is 30%.

ZIP 02840 44%Benchmark 30%
State income tax3.75–5.99%
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Schools nearby

Public schools near ZIP 02840 (Newport, RI)

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