Buying a home in Rhode Island

Property taxes, transfer taxes, home values and first-time buyer help in Rhode Island.

Effective property tax rate

1.21%

Median tax $4,900 ÷ median value $404,200 (ACS 2020–2024)

Typical home value

$511,233

Zillow ZHVI, 2026-08

State transfer tax

0.75%

Usually paid by: seller. R.I. Gen. Laws § 44-25-1 (conveyance tax, rate eff. 2025-10-01). Official source. Local taxes may add more.

Estimated buyer closing costs Estimate

$3,800–$5,600

On a $511,233 home: typical lender fees + title insurance + deed recording (TallyClose) + the buyer’s share of transfer/recording taxes. Excludes prepaids, escrow and local taxes.

At Rhode Island's effective rate of 1.21%, a typical $511,233 home would owe about $6,186/year ($515/month) in property taxes. Actual bills depend on your county, city and exemptions. Run your numbers.

First-time homebuyer programs

Rhode Island Housing

Your state housing finance agency offers down payment assistance and low-rate mortgages for eligible buyers. Visit Rhode Island Housing →

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 2026-10-15.