Newport, VA, with its vibrant community and beautiful scenery, is a great place to live. The rent for a two bedroom apartment is $880 per month, slightly lower than the national average of $1,430. Additionally, the grocery cost index in Newport is 99, meaning that groceries are less expensive than in other parts of the country. The city is home to many thriving companies that offer excellent job opportunities such as Newport News Shipbuilding, Canon Virginia Inc., and Ferguson Enterprises. Newport News Shipbuilding provides employment to thousands of people in the maritime industry by designing and building aircraft carriers, submarines, and other ships. Canon Virginia Inc. manufactures top-of-the-line digital cameras and printers while Ferguson Enterprises constructs unique pieces of furniture for offices around the world. With so many attractive employers located in Newport, it is no wonder why people are choosing to make this city their home.
Newport (zip 24128) has an unemployment rate of 4.5%. The US average is 6.0%.
Newport (zip 24128) has seen the job market decrease by -5.9% over the last year. Future job growth over the next ten years is predicted to be 27.5%, which is lower than the US average of 33.5%.
Tax Rates for Newport (zip 24128)
- The Sales Tax Rate for Newport (zip 24128) is 5.3%. The US average is 7.3%.
- The Income Tax Rate for Newport (zip 24128) is 5.8%. The US average is 4.6%.
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Income and Salaries for Newport (zip 24128)
- The average income of a Newport (zip 24128) resident is $36,890 a year. The US average is $37,638 a year.
- The Median household income of a Newport (zip 24128) resident is $64,091 a year. The US average is $69,021 a year.