Massachusetts vs Rhode Island: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Massachusetts and Rhode Island. Updated for 2026.
Metric
Massachusetts
Rhode Island
Median Home Price
$595K
$425K
Property Tax Rate
1.2%
1.53%
Avg Closing Costs
$10K
$7K
Closing Cost %
1.6%
1.7%
Transfer Tax
0.456%
0.46%
Homeowners Insurance
$2,200/yr
$2,200/yr
First-Time Buyer Program
MassHousing DPA
Up to $50,000 DPA loan
RIHousing First Homes
10K DPA forgivable
Verdict
Massachusetts wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Rhode Island has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.