Rhode Island Mortgage Calculator
Calculate your monthly payment in Rhode Island, with property tax included using the state's effective rate of 1.21%. See your full amortization schedule and analyze your loan structure.
Pick a state to use its property tax rate. With a keyboard, use the arrow keys and press Enter.
Estimated Monthly Payment
Estimates only. Does not include homeowners insurance, mortgage insurance (PMI), or HOA fees. Property tax uses the state's average effective rate and your actual bill may differ.
Yearly Amortization Schedule
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| 1 | $3,577 | $20,695 | $316,423 |
| 2 | $3,816 | $20,455 | $312,607 |
| 3 | $4,072 | $20,200 | $308,535 |
| 4 | $4,345 | $19,927 | $304,191 |
| 5 | $4,636 | $19,636 | $299,555 |
| 6 | $4,946 | $19,325 | $294,609 |
| 7 | $5,277 | $18,994 | $289,332 |
| 8 | $5,631 | $18,641 | $283,701 |
| 9 | $6,008 | $18,264 | $277,694 |
| 10 | $6,410 | $17,861 | $271,284 |
| 11 | $6,839 | $17,432 | $264,444 |
| 12 | $7,297 | $16,974 | $257,147 |
| 13 | $7,786 | $16,485 | $249,361 |
| 14 | $8,308 | $15,964 | $241,053 |
| 15 | $8,864 | $15,407 | $232,189 |
| 16 | $9,458 | $14,814 | $222,732 |
| 17 | $10,091 | $14,180 | $212,641 |
| 18 | $10,767 | $13,505 | $201,874 |
| 19 | $11,488 | $12,784 | $190,386 |
| 20 | $12,257 | $12,014 | $178,129 |
| 21 | $13,078 | $11,193 | $165,051 |
| 22 | $13,954 | $10,317 | $151,097 |
| 23 | $14,888 | $9,383 | $136,208 |
| 24 | $15,886 | $8,386 | $120,323 |
| 25 | $16,949 | $7,322 | $103,373 |
| 26 | $18,085 | $6,187 | $85,289 |
| 27 | $19,296 | $4,976 | $65,993 |
| 28 | $20,588 | $3,683 | $45,405 |
| 29 | $21,967 | $2,305 | $23,438 |
| 30 | $23,438 | $833 | $0 |
Property tax in Rhode Island: the numbers
Rhode Island sits above the 0.92% national average with an effective rate of 1.21%, which is 32% higher. The state ranks 15th out of 50 when states are ordered from highest rate to lowest.
The median home value in Rhode Island is $404,200, and the median annual property tax bill is $4,900. Spread over twelve months, that is about $408 a month in property tax for a median-priced home.
| Effective property tax rate | 1.21% |
|---|---|
| Median home value | $404,200 |
| Median annual property tax | $4,900 |
| Rank by rate (1 = highest of 50) | 15 |
| Difference vs 0.92% national average | 0.29 points above (32% above) |
What this means for your monthly payment
Two worked examples for Rhode Island, using the figures above:
Example 1: the median home
$4,900 per year ÷ 12 = about $408 per month in property tax (median home value: $404,200).
Example 2: a $300,000 home
$300,000 × 1.21% ÷ 12 = about $303 per month, or $3,630 per year.
At the 0.92% national average rate, a $300,000 home would have about $2,760 in property tax per year. In Rhode Island it is about $3,630, which is $870 more per year (about $73 more per month).
Compare with similar states
States ranked just above and just below Rhode Island by effective property tax rate (1 = highest). States with the same rate are ordered by median annual tax.
Ranked just above (higher rate)
- Iowa — 1.39% (rank 10)
- Ohio — 1.31% (rank 11)
- Pennsylvania — 1.30% (rank 12)
- Kansas — 1.29% (rank 13)
- Michigan — 1.25% (rank 14)
Ranked just below (lower rate)
- Alaska — 1.11% (rank 16)
- Massachusetts — 1.07% (rank 17)
- South Dakota — 1.06% (rank 18)
- Minnesota — 1.02% (rank 19)
- Maine — 1.02% (rank 19)
Rhode Island property tax FAQ
What is the property tax rate in Rhode Island?
The effective property tax rate in Rhode Island is 1.21%. That is 32% above the 0.92% national average, and the state ranks 15th out of 50 when states are ordered from highest rate to lowest.
How much is property tax on a $300,000 home in Rhode Island?
At Rhode Island's effective rate of 1.21%, property tax on a $300,000 home works out to about $3,630 per year, or about $303 per month. At the 0.92% national average, the same home would be about $2,760 per year, so Rhode Island is about $870 more per year.
How much is property tax on the median home in Rhode Island?
The median home value in Rhode Island is $404,200, and the median annual property tax is $4,900, which is about $408 per month.
Does the property tax rate vary inside Rhode Island?
Yes. Property taxes are set locally, so actual bills depend on your county, city, and exemptions. The 1.21% figure is a state-level estimate based on medians, not a rate that applies to every home.
Figures are estimates based on Census data and are not tax or financial advice. Actual bills depend on your local rates, assessed value and exemptions.
Source: U.S. Census Bureau, American Community Survey 2020-2024 5-year estimates, as compiled by PropertyShark and PropertyTaxByState.