Housing market/Rhode Island/ZIP 02840
ZIP 02840 Newport, Rhode Island
Newport-Middleton-Portsmouth, RI HUD Metro FMR Area · Rhode Island. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
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HUD schedule, ACS stock, and the 90–110% band for ZIP 02840 · RI — sent to you.
ZIP 02840 · RI
ACS rent vs 2BR SAFMR
ZIP 02840 — Newport, RI HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 02840
- 1-unit detached5,23438.7%
- 1-unit attached7085.2%
- 2–4 units4,56633.8%
- 5–49 units2,20316.3%
- 50+ units8045.9%
2–4 unit share 33.8% · 5–49 unit share 16.3% · combined 2–49 50.1%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,610 (all bedrooms, occupied rentals).
- Median contract rent $1,445.
- Renters paying ≥30% of income 57.5%; ≥50% 23.0%.
- FY2027 2BR SAFMR $2,480 (1.540× ACS median gross rent).
Population
23,615 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +1.7%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 15 projects, 963 units.
- HUD project-based assisted MF: 7 properties, 539 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 51 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 02840 50.4% of occupied households are renters; vacancy is 21.1%; ACS median gross rent is $1,610; population increased +1.7% between the 2018 and 2023 ACS vintages; the housing stock includes 4,566 units in 2–4-unit structures and 2,203 units in 5–49-unit structures; 15 LIHTC projects totaling 963 units; FY2027 2BR SAFMR is $2,480 versus ACS median gross rent of $1,610. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Rhode Island research
ZIP 02840 is a Census / HUD profile for Newport-Middleton-Portsmouth, RI. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 02840 — Newport, RI HUD Section 8 Payment Standards / SAFMR·Rhode Island ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Rhode Island research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 02840?
ZIP 02840 (Newport-Middleton-Portsmouth, RI HUD Metro FMR Area) has 23,615 residents, 10,663 households, a renter share of 50.4%, median household income of $83,515, and ACS 2023 median gross rent of $1,610. Vacancy is 21.1%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 02840?
ACS counts 2,079 units in 2-unit buildings, 2,487 in 3–4 unit buildings, 1,345 in 5–9, 380 in 10–19, and 478 in 20–49. Combined 2–49 unit stock is 6,769 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 02840?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,480. See the full schedule and 90–110% payment-standard band on the ZIP 02840 — Newport, RI HUD Section 8 Payment Standards / SAFMR.
Does this Rhode Island ZIP profile include Georgia listings?
No. ZIP 02840 is Census / HUD research for Newport-Middleton-Portsmouth, RI HUD Metro FMR Area. Jeff Crowe CRE does not list Rhode Island property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.