Mortgage on a $450K house in Rhode Island
$3,031 a month with 20% down — $2,422 principal and interest plus $384 property tax and $225 insurance.
Rhode Island's typical property tax is 1.02% of the home's value a year (U.S. average 0.9%), which adds $384 a month on a $450K home. The typical home in Rhode Island is worth $508,507, so $450K is 12% below the typical price.
$450K home in Rhode Island: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $90,000 | $360,000 | $2,422 | $0 | $609 | $3,031 | $129,900 |
| 10% down | $45,000 | $405,000 | $2,724 | $169 | $609 | $3,502 | $150,100 |
| 5% down | $22,500 | $427,500 | $2,876 | $178 | $609 | $3,663 | $157,000 |
| 3.5% down (FHA) | $15,750 | $441,849 | $2,972 | $199 | $609 | $3,780 | $162,000 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.02% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Rhode Island does $450K buy a typical home?
In these counties the typical home value is within 15% of $450K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Providence County | $453,475 | 1.25% | $3,117 |
| Kent County | $441,067 | 1.35% | $3,154 |
1 of 5 Rhode Island counties tracked by Zillow have a typical home value at or below $450K. See all Rhode Island home prices.
Other prices in Rhode Island
Frequently asked questions
What is the mortgage on a $450K house in Rhode Island?
About $3,031 a month with 20% down at 7.11%: $2,422 principal and interest, $384 property tax and $225 insurance.
How much do I need to make to buy a $450K house in Rhode Island?
About $129,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $450K house in Rhode Island?
At Rhode Island's typical effective rate of 1.02%, about $4,607 a year. Rates vary by county and city — see the county pages.