Income needed to buy a home
Providence County, RI
$157,946
a year in household income to buy the typical Providence County home with 10% down.
The monthly math
Typical home value$455,095
Down payment (10%)$45,510
Loan$409,586
Principal and interest (7.40%)$2,836/mo
Property tax (1.19% a year)$451/mo
Homeowners insurance (estimate)$228/mo
Mortgage insurance$171/mo
Total monthly cost$3,685/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
Out of reach
The typical household here earns $78,787 a year, 50% of what it takes.
In Rhode Island
Providence County ranks #2 of 5 for the income a home takes, from least to most.
Easiest to afford in Rhode Island
| County | Typical home | Income needed |
|---|---|---|
| Kent County | $442,953 | $156,548 |
| Bristol County | $657,795 | $227,003 |
| Washington County | $689,899 | $232,587 |
| Newport County | $790,998 | $265,174 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.