Cost of Living in Newport-Middleton-Portsmouth, RI

How far does a $70,000 salary go in Newport-Middleton-Portsmouth? Estimated income taxes on that gross salary total approximately $9,470 per year — combining federal taxes with Rhode Island's state income tax. Subtract rent for a 2-bedroom apartment ($2,314/month based on HUD Fair Market Rents for the Newport-Middleton-Portsmouth metro area) and the estimated annual take-home is $32,762, or roughly $2,730 per month for everything else: food, transportation, savings, and discretionary spending.

At a $70,000 salary, the estimated 2-bedroom rent in Newport-Middleton-Portsmouth represents approximately 40% of gross income. That is well above what most financial advisors recommend, indicating that Newport-Middleton-Portsmouth is a financial stretch at a $70,000 salary without roommates or a higher-earning household.