Mortgage Calculator & Closing Costs: Pawtucket, RI
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Pawtucket, Rhode Island.
Median Home Price
$325K
Population
76K
Avg Monthly Rent
$1,380
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 Pawtucket.
Pawtucket vs Rhode Island Median
The median home price in Pawtucket is $325,000, which is 24% below the Rhode Island state median of $425,000.
Mortgage Calculator — Pawtucket, RI
Pre-filled with Pawtucket median home price and Rhode Island tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $325K home using Rhode Island's 1.53% tax rate and $2,200/yr insurance.
5% Down
$2,729/mo
Down: $16,250
Loan: $309K
P&I: $1,952
Tax: $414
Insurance: $183
PMI: $180
10% Down
$2,617/mo
Down: $32,500
Loan: $293K
P&I: $1,849
Tax: $414
Insurance: $183
PMI: $171
20% Down (No PMI)
$2,241/mo
Down: $65,000
Loan: $260K
P&I: $1,643
Tax: $414
Insurance: $183
Income needed (28% rule): $96K/year with 20% down, $112K/year with 10% down.
Rent vs Buy in Pawtucket
Rent
$1,380/mo
vs
Buy (10% down)
$2,617/mo
Price-to-rent ratio: 19.6 — A ratio between 15-20 means the rent vs buy decision in Pawtucket depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Pawtucket is $325,000, 24% below the Rhode Island state median of $425,000. With a population of 75,604, Pawtucket is a smaller market where home prices tend to be more accessible than in many parts of Rhode Island.
Property taxes in Rhode Island average 1.53% annually. This higher-than-average tax rate means a $325,000 home in Pawtucket would carry roughly $414/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 Pawtucket is $1,380/month. The price-to-rent ratio in Pawtucket is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Pawtucket presents moderate affordability. The $325K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Pawtucket.