Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$508,507+3.5% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 12% have cut their price
Income needed to buy, per year$110,234About 1.3× the local median income ($83,250): a stretch for a typical household
Days on market38 daysAbout the same pace as a year ago
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Rhode Island is worth $508,507, up 3.5% from a year ago. That is well above what local incomes have historically supported: fair value is about $424,086, so the area is 19.9% overvalued. It is a balanced market: homes take about 38 days to sell, listings are up 25% from a year ago, 12% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $110,234 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $83,250. In the latest IRS figures, 1,220 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$508,507
Change in 1 year
+3.5%
Overvalued %
+19.9%
Show 7 more
Fair home value
$424,086
Change in 5 years
+34.0%
Zillow forecast, next 12 months
+2.6%
Home value to income
6.1×
Monthly mortgage payment (20% down)
$2,756
Income needed to afford it
$110,234
Property tax rate
1.21%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$1,901
Market activity
Listings vs a year ago
+24.9%
Days on market
38
Listings with a price cut
12.2%
Show 3 more
Homes for sale
2,093
Pending sales per 100 listings
60
Asking price per sq ft
$374
People and jobs
Median household income
$83,250
Population change (1 year)
+0.4%
Unemployment rate
5.8%
Show 4 more
Population
1,114,521
Income adjusted for cost of living
$81,378
Net moves in (IRS)
−1,220
Cost of living (US = 100)
102.3
Schools, risk and environment
FEMA hazard risk score (0 to 100)
78.9
Unhealthy air days a year
1
Flood risk score
87.8
Show 3 more
Wildfire risk score
26.5
Walkability (1 to 20)
12.2
Road, rail and air noise
53 dB
Questions people ask
Is Rhode Island overvalued?
Home prices in Rhode Island are well above what local incomes have historically supported: fair value is about $424,086, so the area is 19.9% overvalued.
Is Rhode Island a buyer's or seller's market?
Rhode Island is a balanced market: homes take about 38 days to sell, listings are up 25% from a year ago, 12% of listings have had a price cut.
Are home prices going down in Rhode Island?
Home values in Rhode Island are up 3.5% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Rhode Island?
A household needs about $110,234 a year to afford the typical home in Rhode Island at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $83,250.