02842 — Newport County, Rhode Island Market Snapshot
Housing market data for zip code 02842 in Newport County, Rhode Island. Updated monthly with median prices, days on market, and more.
Market Sales Data
29 sales in 2026 (year to date)
Median Sale Price
$799,000
Days to Sell
49
Homes Sold
29
Inventory
36
Sale-to-List
96.8%
New Listings
53
Price/SqFt
$498
Pending Sales
30
Conforming Loan Available
The median home in 02842 at $799,000 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
02842's market is balanced with homes taking an average of 49 days to sell. Buyers have some negotiating room without the pressure of bidding wars.
Sale-to-List Ratio
The average home in 02842 sells for 3.2% below asking price (96.8% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
The median home in 02842 at $799,000 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 02842 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 02842
To purchase the median home at $799,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $6,272.
Monthly Payment
$6,272
Income Required
$268,786
Principal & Interest
$4,923/mo
Down Payment (5%)
$39,950
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 02842.
Estimated Monthly Payment
$5,095
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