The typical owner-occupied home in Providence County is worth about $373,600, 8% below the Rhode Island median of $404,200 and 12% above the national median of $332,700. Owners pay a median $4,683 a year in property taxes, about 1.25% of their home's value, close to the Rhode Island rate of 1.21%. The median household earns $78,787 a year, so the median home costs 4.7 times the median income (4.6 times for Rhode Island). 57% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Providence County at a glance
| Providence County | Rhode Island | U.S. | |
|---|---|---|---|
| Median home value | $373,600 | $404,200 | $332,700 |
| Median property tax paid per year | $4,683 | $4,900 | $3,119 |
| Property tax as a share of value | 1.25% | 1.21% | 0.94% |
| Median household income | $78,787 | $87,796 | $80,734 |
| Homes lived in by their owners | 57% | 64% | 65% |
| Owner homes with a mortgage | 68% | 67% | 61% |
| Median monthly costs, owners with a mortgage | $2,152 | $2,234 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 22.1% | 21.0% |
| Median rent | $1,312 | $1,342 | $1,413 |
| Rent as a share of renters' income | 28.9% | 29.2% | 30.6% |
| Median year homes were built | 1956 | 1962 | 1980 |
| Vacant homes | 6.7% | 9.1% | 10.1% |
| Population | 664,854 | 1,101,801 | 334,922,499 |
What a typical home costs per month in Providence County
At this week's average 30-year rate of 7.11%, buying the median Providence County home of $373,600 with 20% down costs about $2,555 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,178, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $109,518 for the 20%-down payment. That payment is 39% of the median Providence County household income of $78,787; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $1,312 a month, so owning the median home costs about $1,243 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $74,720 |
|---|---|
| Loan amount | $298,880 |
| Principal and interest | $2,011 |
| Property taxes (1.25% a year) | $389 |
| Homeowners insurance (our estimate, 0.5% a year) | $156 |
| PMI | $0 |
| Total per month | $2,555 |
Change the numbers in the calculator
| Down payment | $13,076 |
|---|---|
| Loan amount | $366,833 |
| Principal and interest | $2,468 |
| Property taxes (1.25% a year) | $389 |
| Homeowners insurance (our estimate, 0.5% a year) | $156 |
| FHA mortgage insurance | $165 |
| Total per month | $3,178 |
Change the numbers in the calculator
Questions about home buying in Providence County
What is the median home value in Providence County?
About $373,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Providence County?
Homeowners pay a median $4,683 a year, which is about 1.25% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Providence County?
For the median home with 20% down at 7.11%, the payment is about $2,555 a month. Keeping that under 28% of gross income takes about $109,518 a year.
More about Providence County
- Mortgage Refinance in Providence County
- Debt Relief in Providence County
- Home Equity Loans in Providence County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data