Mortgage Rates in Newport, Rhode Island — March 2026
Updated March 2026 | Based on Newport market data and regional lending conditions
Newport is a growing city in Rhode Island with a population of 25,163. The current 30-year fixed mortgage rate in Newport is 6.67%, which is 0.02% above the national average. With a median home price of $585,000 and a 20% down payment of $117,000, homebuyers can expect a monthly principal and interest payment of approximately $3,011.
Current Mortgage Rates in Newport, RI
Below are the current average mortgage rates available in the Newport area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.27% | 6.25% | +0.02% |
| VA | 6.07% | 6.05% | +0.02% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Newport Housing Market Overview
The Newport housing market is competitive with prices well above the national median. The median household income in Newport is $62,250, and the cost of living index is 125.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $163,114 to comfortably afford the median-priced home in Newport, which exceeds the current median household income.
Monthly Payment Breakdown for Newport
Based on the median home price of $585,000 with 20% down ($117,000), here is what you can expect to pay monthly in Newport:
15-Year vs. 30-Year Mortgage in Newport
Choosing a 15-year mortgage in Newport at 5.91% instead of a 30-year at 6.67% would save you $377,100 in total interest over the life of the loan. However, your monthly payment would be $3,927 instead of $3,011 — an increase of $916 per month.
Calculate Your Newport Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Newport
What are the current mortgage rates in Newport, RI?
As of March 2026, the average 30-year fixed mortgage rate in Newport, Rhode Island is 6.67%, while the 15-year fixed rate is 5.91%. FHA loans average 6.27% and VA loans 6.07%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Newport?
Based on the median home price of $585,000 with 20% down, the estimated monthly mortgage payment in Newport is $3,011 for principal and interest. Including property taxes of $795/month, the total monthly housing cost is approximately $3,806.
What income do I need to buy a home in Newport?
Using the 28% rule, you would need an annual income of approximately $163,114 to afford the median-priced home in Newport at $585,000. The median household income in Newport is $62,250. This means most households would need to either earn above the median or consider homes below $585,000.
Is Newport a good place to buy a home in 2026?
Newport has a higher cost of living than average with a cost of living index of 125.5 (national average = 100). The property tax rate in Rhode Island is 1.63%, which is above the national average. Newport has a population of 25,163 and offers a balanced lifestyle.
Mortgage Rates in Other Rhode Island Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Newport, Rhode Island area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.