If you intend to buy a home in Rhode Island, be forewarned that it is one of the most expensive states to purchase a home.
The median home price in Rhode Island is around $437K. This is around an 11% increase over the previous year and reflects the steady recent growth in prices. Although this annual growth rate is smaller than the national rate of 13.5%, the median price of homes in Rhode Island is much higher than the average across the country, which is $358K.
Buying a home can be a complicated process, especially if you’re a first-timer. This is why MoneyGeek created this guide to help you navigate the ins and outs of the homebuying journey, including applying for a loan, sealing the deal and finding ways to avoid getting into unnecessary and potentially insurmountable debt.