Median rent is 47% lower in Richmond ($860/mo vs $1,612/mo). Buying is cheaper in Richmond, where the median home runs $205,900 versus $669,500. Households earn more in Newport ($83,562 vs $48,223 a year). Taken together, Richmond is the more affordable choice with a cost index of 97.6 against 97.9 — about 0% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Newport, RI.
City A
Newport, RI
City B
Richmond, KY
How much would you need to earn in Richmond, KY to maintain your standard of living from Newport, RI?
Equivalent salary in Richmond, KY
$74,786
You could earn $214 less (0% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Newport
Rhode Island
Richmond
Kentucky
👥Population
💰Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Renters will find significantly cheaper housing in Richmond — median rent of $860/mo versus $1,612/mo in Newport, a 47% difference. Home buyers face a steeper market in Newport: the median home is $669,500 versus $205,900 in Richmond — 69% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Rhode Island's top income tax rate is 5.99% versus 4.00% in Kentucky, so Richmond is more tax-friendly for high earners. Sales tax is 7.00% in Rhode Island and 6.00% in Kentucky; Richmond has the lower rate (local add-ons may apply in both).
Newport
Income tax: 5.99%
Sales tax: 7.00%
Richmond
Income tax: 4.00%
Sales tax: 6.00%
Air quality data is not yet available for these cities.
Pick Newport if you prioritize higher median household income ($83,562/yr).
Pick Richmond if you prioritize cheaper rent ($860/mo median).
Pick Richmond if you prioritize lower state income tax (4.00%).
Is Newport cheaper than Richmond?
Richmond is cheaper overall, with a cost of living index of 97.6 versus 97.9 (US average = 100). That means prices run about 0% lower in Richmond.
How much is rent in Newport vs Richmond?
Median rent is $1,612/mo in Newport, RI and $860/mo in Richmond, KY. Richmond, KY has the lower rent by about 47%.
Which has higher salaries — Newport or Richmond?
Median household income is $83,562 in Newport, RI and $48,223 in Richmond, KY. Newport, RI has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Newport or Richmond?
Rhode Island's top income tax rate is 5.99% and Kentucky's is 4.00%. Richmond, KY has the lower rate.
What salary do I need in Richmond to match my Newport income?
To maintain the same purchasing power, a salary of $100,000 in Newport, RI is equivalent to roughly $99,715 in Richmond, KY (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology