Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bristol, Rhode Island.
Median Home Price
$445K
Population
23K
Avg Monthly Rent
$1,650
Property Tax Rate
1.53% *
* Property tax shown is the Rhode Island state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bristol.
Bristol vs Rhode Island Median
The median home price in Bristol is $445,000, which is roughly in line with the Rhode Island state median of $425,000.
Mortgage Calculator — Bristol, RI
Pre-filled with Bristol median home price and Rhode Island tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $445K home using Rhode Island's 1.53% tax rate and $2,200/yr insurance.
5% Down
$3,669/mo
Down: $22,250
Loan: $423K
P&I: $2,672
Tax: $567
Insurance: $183
PMI: $247
10% Down
$3,516/mo
Down: $44,500
Loan: $401K
P&I: $2,531
Tax: $567
Insurance: $183
PMI: $234
20% Down (No PMI)
$3,001/mo
Down: $89,000
Loan: $356K
P&I: $2,250
Tax: $567
Insurance: $183
Income needed (28% rule): $129K/year with 20% down, $151K/year with 10% down.
Rent vs Buy in Bristol
Rent
$1,650/mo
vs
Buy (10% down)
$3,516/mo
Price-to-rent ratio: 22.5 — At a ratio above 20, renting may be more economical in Bristol for shorter stays. Buying costs $1,866 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Bristol is $445,000, roughly in line with the Rhode Island state median of $425,000. With a population of 22,954, Bristol is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in Rhode Island average 1.53% annually. This higher-than-average tax rate means a $445,000 home in Bristol would carry roughly $567/month in property taxes alone — plan accordingly. Homeowners insurance in Rhode Island runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Bristol is $1,650/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Bristol is a higher-cost market. At $445K median, buyers need significant savings or strong income. Down payment assistance through Rhode Island's RIHousing First Homes program becomes especially important.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bristol.