How many apartments are available in 02840 on Rentable.co?
Rentable.co has 7 apartments available for rent in 02840.
What is the average rent for an apartment in 02840?
The average rent for an apartment in 02840 is around $3,600 per month.
Find an Apartment in 02840
Looking for apartments for rent in 02840 Newport, RI? You're in luck! Currently, there are 8 units available for rent in this area on Rentable. The average rent in 02840 is $3,480, and the minimum rent for a 2-bedroom is $2,375.
Newport, RI offers a variety of points of interest and community amenities. Nearby parks include Fort Adams State Park, which offers stunning views of the ocean and historical structures, and Cliff Walk, a scenic trail that winds along the coast with breathtaking views of the Atlantic Ocean and beautiful mansions.
If you're looking for apartments near 02840, Rentable has a range of options to suit your needs. Whether you're searching for a cozy studio or a spacious three-bedroom apartment, you're sure to find the perfect rental for you in Newport, RI. Take a look at Rentable's apartments in 02840 and start your search today.
Newport: May Rent Report
Welcome to the May 2024 Newport Apartment Report. In this assessment of
the local rental market, Rentable data scientists and rental experts break down the
May 2024 key findings and figures for the Newport rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in
Newport and surrounding areas and provide comparisons to the entire metro area, nearby cities and
some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of
Newport average rent prices in the chart below.
Monthly Rent Report
$4,250
$3,190
$2,130
$1,060
$0
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
1 BR2 BR
Newport Rent Prices Decrease From April to May
Newport rent prices decreased over the last month. From April to May, the city experienced a -17.49% decrease for the price of a one-bedroom apartment. The rent price for a Newport one-bedroom apartments currently stands at $1,099.0.
When we take a look at the two-bedroom comparison from April to May, Newport experienced a 2.43% increase for the price of a two-bedroom apartment. The rent price for a Newport two-bedroom apartments currently stands at $3,881.0.
May Prices: Newport vs. Surrounding Areas
Rent Prices in Newport and Surrounding Areas
Rent prices have decreased in Newport over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Newport suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Newport suburbs
Rents did not decrease in any of the Newport suburbs.
May 2024 Pricing Trends: Newport vs. National Comparisons
New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,056
$3,039
$2,377
$2,336
$1,913
$1,300
$1,283
$1,178
$0
$1,350
$2,700
$4,050
$5,400
Median Rent
Newport Rent Prices More Affordable Than Major Cities
Rent growth in Newport over the past year has been
declining. When compared to major cities nearby, along
with some of the most expensive cities in the country, Newport average rent prices appear to be
relatively affordable for local residents.
The price for a Newport one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Newport and surrounding area rent prices, take a look at the complete data set below.
Data set for Newport and suburbs
1 BR May
1 BR M/M % Change
2 BR May
2 BR M/M % Change
Methodology
Each month, using over 1 million Rentable listings across the United States, we calculate the median
1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To
avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and
property count thresholds.