Cost of Ownership · Rhode Island

The true cost of owning a home in Rhode Island

For a median $368,800 home in Rhode Island, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.

As of Jul 5, 2026Methodology true-cost-v3

Lender-approved payment

$2,798/mo

PITI + PMI

True monthly cost

$3,106/mo

everything, incl. upkeep

The gap

+$307/mo

what approval leaves out

Principal & interest$2,083/mo

Property tax$405/mo

Homeowners insurance$173/mo

PMI (LTV > 80%)$138/mo

Maintenance reserve$307/mo

True monthly cost$3,106/mo

Effective property-tax rate

1.32%

Avg. homeowners premium

$2,074/yr

NFIP flood claims on record

7,023

These figures use Rhode Island’s median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how Rhode Island ranks on property tax and insurance, or browse every state.