Cost of Living in Newport, TN
Housing
The housing market plays a significant role in determining the cost of living in Newport, TN.
- Housing Index: 85.0 / 100
- Median Home Price is: $268,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1200 per month
Considering a move to Newport, TN? With a housing index of 85.0, the market presents potential affordability challenges. The median home price stands at 268000, which may be appealing for those looking to buy. Meanwhile, average rent for a 2-bedroom apartment and house is equally at 1200 per month, offering consistent rental options. This indicates a balanced market, appealing for renters and buyers alike. Do remember, the overall cost of living and job availability are also crucial factors to investigate before making your decision.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Newport, TN.
- Electricity Price: $12.57 USD (median by state)
- Natural Gas Price: $12.35 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $200 per month
Living in Newport, TN could entail higher utility costs. Electricity costs sit at $12.57, while natural gas is priced at $12.35 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $200 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Newport is a financially viable option for your relocation.