02840 — Newport County, Rhode Island Market Snapshot
Housing market data for zip code 02840 in Newport County, Rhode Island. Updated monthly with median prices, days on market, and more.
Market Sales Data
32 sales in 2026 (year to date)
Median Sale Price
$1,415,000
Days to Sell
53
Homes Sold
32
Inventory
34
Sale-to-List
97.3%
New Listings
53
Price/SqFt
$669
Pending Sales
41
Jumbo Loan Likely Needed
The median home in 02840 at $1,415,000 exceeds the 2026 conforming loan limit of $832,750 by $582,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Market Insights
Market Temperature
02840's market is balanced with homes taking an average of 53 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 02840 sells for 2.7% below asking price (97.3% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
The median home in 02840 at $1,415,000 exceeds the 2026 conforming loan limit of $832,750 by $582,250. Most buyers here will need jumbo loans, which typically require higher credit scores, larger down payments, and come with different rate pricing.
Loan limits in 02840 are set at the county level.
2026 Loan Limits — Newport County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $787,750 |
| 2 Units | $1,066,250 | $1,008,450 |
| 3 Units | $1,288,800 | $1,219,000 |
| 4 Units | $1,601,750 | $1,514,950 |
Affordability Snapshot — Zip 02840
To purchase the median home at $1,415,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $10,991.
Monthly Payment
$10,991
Income Required
$471,055
Principal & Interest
$8,719/mo
Down Payment (5%)
$70,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 02840.
Estimated Monthly Payment
$8,907
Jumbo loan required. Loan amount exceeds the $832,750 conforming limit for 02840.
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