Mortgage Calculator & Closing Costs: North Kingstown, RI
Mortgage payment estimates, closing cost breakdowns, and homebuying data for North Kingstown, Rhode Island.
Median Home Price
$485K
Population
26K
Avg Monthly Rent
$1,780
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 North Kingstown.
North Kingstown vs Rhode Island Median
The median home price in North Kingstown is $485,000, which is 14% above the Rhode Island state median of $425,000.
Mortgage Calculator — North Kingstown, RI
Pre-filled with North Kingstown median home price and Rhode Island tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $485K home using Rhode Island's 1.53% tax rate and $2,200/yr insurance.
5% Down
$3,983/mo
Down: $24,250
Loan: $461K
P&I: $2,912
Tax: $618
Insurance: $183
PMI: $269
10% Down
$3,815/mo
Down: $48,500
Loan: $437K
P&I: $2,759
Tax: $618
Insurance: $183
PMI: $255
20% Down (No PMI)
$3,254/mo
Down: $97,000
Loan: $388K
P&I: $2,452
Tax: $618
Insurance: $183
Income needed (28% rule): $139K/year with 20% down, $164K/year with 10% down.
Rent vs Buy in North Kingstown
Rent
$1,780/mo
vs
Buy (10% down)
$3,815/mo
Price-to-rent ratio: 22.7 — At a ratio above 20, renting may be more economical in North Kingstown for shorter stays. Buying costs $2,035 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 North Kingstown is $485,000, 14% above the Rhode Island state median of $425,000. With a population of 26,486, North Kingstown 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 $485,000 home in North Kingstown would carry roughly $618/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 North Kingstown is $1,780/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.
North Kingstown is a higher-cost market. At $485K 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 North Kingstown.