Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Hampshire and Rhode Island. Updated for 2026.
New Hampshire and Rhode Island are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
The monthly payment difference is $171/month — that’s $2,052/year or $62K over the life of a 30-year loan. Buying in Rhode Island is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in New Hampshire, you need a household income of approximately $149K/year. In Rhode Island, you need $142K/year — less by $7K/year. The $7K difference is meaningful but manageable for dual-income households.
Home prices in New Hampshire and Rhode Island are relatively close, with only a 1% difference ($5K). At similar price points, your decision should focus on the other cost factors: property taxes, insurance, closing costs, and the overall quality of life each state offers. Small percentage differences in tax rates compound over decades of homeownership.
Rhode Island has a moderate property tax advantage at 1.53% versus New Hampshire's 2.09%. While the rate gap of 0.56% may seem small, it translates to an annual difference of approximately $2,484 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $20K in savings.
Insurance costs favor New Hampshire at $1,400/year versus $2,200/year in Rhode Island, a difference of $800 annually. While not the largest cost factor, this adds up to over $8K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Both states offer down payment assistance for first-time buyers. New Hampshire's NHHFA Home Flex Plus provides Up to $20,000 DPA, while Rhode Island's RIHousing First Homes offers 10K DPA forgivable. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: New Hampshire and Rhode Island are broadly similar in housing costs, with only $171/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.