Buying a home in Rhode Island
Property taxes, transfer taxes, home values and first-time buyer help in Rhode Island.
For home buyers in Rhode Island: the taxes and typical costs of buying, with official sources.
At Rhode Island's effective rate of 1.21%, a typical $508,507 home would owe about $6,153/year ($513/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.
Rhode Island Housing
Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit Rhode Island Housing →
Next steps
Sources: U.S. Census Bureau ACS 2020–2024 5-year (B25103, B25077); Zillow Home Value Index; TallyClose closing-cost dataset (CC BY 4.0), which cites each state statute; NCSHA HFA directory. Last updated 2026-11-01.
Common questions
What is the property tax rate in Rhode Island?
The effective property tax rate in Rhode Island is 1.21%: the median tax of $4,900 divided by the median home value of $404,200 (U.S. Census Bureau ACS 2020–2024).
What is a typical home value in Rhode Island?
$508,507 in September 2026, according to the Zillow Home Value Index.
Does Rhode Island have a real estate transfer tax?
Yes. The state transfer tax is 0.75% of the price, usually paid by the seller.
Who offers first-time homebuyer help in Rhode Island?
Rhode Island Housing, the state housing finance agency, offers down payment assistance and lower-rate loans for eligible buyers.
Updated . Official sources: U.S. Census Bureau ACS, Zillow Research ZHVI.
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