Estimate your monthly payment in Rhode Island. Uses 2026 average home prices ($420,000), 1.53% property tax, and programs for Providence, Cranston, and Warwick.
The average home price in Rhode Island is approximately $420,000 in 2026. With a standard 20% down payment of $84,000, your estimated monthly principal and interest on a 30-year loan at 6.8% would be around $2,190. Adding Rhode Island's 1.53% property tax and homeowner's insurance brings your total estimated monthly PITI to roughly $2,901.
Key markets include Providence, Cranston, and Warwick, each with varying price points. A 15-year loan at 6.3% would run approximately $2,890/month in P&I — higher payments but roughly half the lifetime interest cost. Adjust the sliders above to see how rate and term changes affect your payment instantly.
Rhode Island offers the RIHousing First Down for qualifying buyers. These programs typically provide down payment assistance, below-market interest rates, or both. Contact your state housing finance agency to check current income and purchase-price limits.
2026 Rate Tip: 30-year fixed rates average 6.5–7.5% in 2026. Even 0.25% lower saves roughly $25,200 over the loan's life. Get quotes from at least 3–5 lenders.
The average home price in Rhode Island is approximately $420,000 in 2026. Providence and Cranston tend to have higher prices than rural areas of the state.
Rhode Island's effective property tax rate is approximately 1.53%, which equals about $6,426/year or $536/month on a $420,000 home.
RIHousing First Down is available to qualifying buyers in Rhode Island and offers down payment assistance and/or below-market rates. Contact your state housing finance agency for details.