The typical owner-occupied home in Hopkinton is worth about $273,400, 32% below the Rhode Island median of $404,200 and 18% below the national median of $332,700. Owners pay a median $4,019 a year in property taxes, about 1.47% of their home's value, higher than the Rhode Island rate of 1.21%. The median household earns $21,274 a year, so the median home costs 12.9 times the median income (4.6 times for Rhode Island). 33% of occupied homes here are lived in by their owners, and 51% of those owners still have a mortgage.
Hopkinton at a glance
| Hopkinton | Rhode Island | U.S. | |
|---|---|---|---|
| Median home value | $273,400 | $404,200 | $332,700 |
| Median property tax paid per year | $4,019 | $4,900 | $3,119 |
| Property tax as a share of value | 1.47% | 1.21% | 0.94% |
| Median household income | $21,274 | $87,796 | $80,734 |
| Homes lived in by their owners | 33% | 64% | 65% |
| Owner homes with a mortgage | 51% | 67% | 61% |
| Median monthly costs, owners with a mortgage | – | $2,234 | $1,963 |
| Median rent | $468 | $1,342 | $1,413 |
| Rent as a share of renters' income | 29.0% | 29.2% | 30.6% |
| Median year homes were built | 2002 | 1962 | 1980 |
| Vacant homes | 0.0% | 9.1% | 10.1% |
| Population | 206 | 1,101,801 | 334,922,499 |
What a typical home costs per month in Hopkinton
At this week's average 30-year rate of 7.11%, buying the median Hopkinton home of $273,400 with 20% down costs about $1,920 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,376, 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 $82,293 for the 20%-down payment. That payment is 108% of the median Hopkinton household income of $21,274; at that income and 20% down, the 28% guideline points to a home of about $71,000.
The median rent here is $468 a month, so owning the median home costs about $1,452 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,680 |
|---|---|
| Loan amount | $218,720 |
| Principal and interest | $1,471 |
| Property taxes (1.47% a year) | $335 |
| Homeowners insurance (our estimate, 0.5% a year) | $114 |
| PMI | $0 |
| Total per month | $1,920 |
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| Down payment | $9,569 |
|---|---|
| Loan amount | $268,448 |
| Principal and interest | $1,806 |
| Property taxes (1.47% a year) | $335 |
| Homeowners insurance (our estimate, 0.5% a year) | $114 |
| FHA mortgage insurance | $121 |
| Total per month | $2,376 |
Change the numbers in the calculator
Questions about home buying in Hopkinton
What is the median home value in Hopkinton?
About $273,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hopkinton?
Homeowners pay a median $4,019 a year, which is about 1.47% 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 Hopkinton?
For the median home with 20% down at 7.11%, the payment is about $1,920 a month. Keeping that under 28% of gross income takes about $82,293 a year.
More about Hopkinton
- Mortgage Refinance in Hopkinton
- Debt Relief in Hopkinton
- Home Equity Loans in Hopkinton
- 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