Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroomSaved on this device

Chicago · Registered nurse · $98,500 · One adult, renting a 1-bedroom

Providence, RI

Housing in Providence, RI: Rent, Home Prices & Property Tax

$1,740/mo (1 bd) in Providence. Median home $385,900. Property tax 1.30%.

Compare vs Chicago Rank metros from ProvidenceHow we figure this

Rent (1 bd): $1,740; /mo
Buy: $2,723; Mortgage, tax, insurance
Buying costs more: $983; /mo

State tax and rent

To buy

20% down payment$77,180
Mortgage at 6.5%$1,951
Property tax (1.30% of value)$418/mo · $5,017/yr
Insurance and upkeep$354
Monthly total$2,723

45.9% of renters spend 30% or more of income on rent. Census ACS 2023.

Months to 20% down

$2,094 left each month. About 37 months (3.1 years) to save $77,180.

Asking rent. Census median home price. 30-year fixed, 6.5%, 20% down. Not lending advice.

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