ZIP Code · RI

ZIP 02842

Part of Middletown, RI

Pop. 16,832·Newport County·1st most expensive ZIP in Rhode Island

Median rent (all units)

$3,327/mo

Year-over-Year

+11.9%

Month-over-Month

+2.5%

vs US Median

+$1,395

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 02842 · $3,327

More expensive than 94% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,730

1 BR

$1,750

2 BR

$2,290

3 BR

$3,100

4 BR+

$3,560

Research median

$2,290/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: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Rhode Island

Rent in ZIP 02842 changed +11.9% over the year to September 2026. Across the 25 Rhode Island ZIP codes Zillow tracks, the typical change was +4.8%.

Recent direction

Rent has risen 4 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($101,948) is $2,549 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,290); a 3-bedroom is $3,100.

Cheaper nearby

ZIP 02871, 5 miles away, rents for 13% less ($2,887/mo), about $5,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 02842. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$39,924/yr

At $3,327/mo median

Location

CityMiddletown

StateRI

CountyNewport County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 11.9% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+11.9% YoY, +2.5% MoM), not inventory.

Demographics

Who lives here

ZIP 02842 (Middletown, RI) is majority owner-occupied, has a large retiree population, has a median income above the national average, 47.4% of residents hold a bachelor's degree or higher.

Population

16,832

Median income

$101,948

Median age

43.8

Renters

42.1%

Age distribution

19%

19.2%

23.9%

15.7%

22.3%

Under 1819%

18–3419.2%

35–5423.9%

55–6415.7%

65+22.3%

Gender

53.1%

46.9%

Male53.1%

Female46.9%

Race & ethnicity

77.8%

White77.8%

Black5.2%

Hispanic9.3%

Asian2.1%

Other5.6%

Education (25+)

26.5%

21.2%

47.4%

No HS diploma4.9%

HS diploma26.5%

Some college21.2%

Bachelor's+47.4%

Housing tenure

57.9%

42.1%

Owner57.9%

Renter42.1%

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

2021 vs 2026

How ZIP 02842 in Middletown, RI has changed in 5 years

Income

$88,211 → $101,948

up 15.6%

Population

16,983 → 16,832

down 0.9%

Renter share

43.6% → 42.1%

-1.5 pts

Bachelor's+

47.9% → 47.4%

-0.5 pts

Median age

44.8 → 43.8

-1.0 yrs

Median household income rose from $88,211 to $101,948 between 2021 and 2024, a 15.6% shift. Renters now make up 42.1% of households, compared with 43.6% five years ago.

Community

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Local insights

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About renting in ZIP 02842

Last updated: October 17, 2026

ZIP code 02842 covers Middletown, RI. The median rent here is $3,327/mo as of October 2026. A 1-bedroom rents for a median of $1,750/mo. A 2-bedroom rents for a median of $2,290/mo.

At 39% of local median household income ($101,948/yr), ZIP 02842 ranks as moderate compared to the national benchmark of 30%. Rents have increased 11.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02842?

To keep rent at or below 30% of gross income, you would need to earn at least $133,000/year (about $64/hour full-time) to afford the median rent of $3,327/mo in ZIP 02842. The local median household income is $101,948/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 02842?

Rent in ZIP 02842 has risen 11.9% over the past year.

How does ZIP 02842 compare to other ZIPs in Rhode Island?

ZIP 02842 is one of the pricier among Rhode Island ZIP codes for rent, ranking #1 of 32 at $3,327/mo. Over the year to September 2026, rent in ZIP 02842 changed +11.9%, against a typical +4.8% across the 25 Rhode Island ZIP codes Zillow tracks.