According to data from ClosingCorp, the average closing cost in Rhode Island is $4,618.81 after taxes, or approximately 1.15% to 1.54% of the final home sale price.
Across the state, the average home sells for between $300,000 and $400,000. If you buy a property in that range, expect to pay between $3,464.11 and $6,158.41 in closing costs after taxes.
| Data | Value |
|---|---|
| Average home sale price | $300,000 to $400,000 |
| Average total closing cost | $4,618.81 |
| Expected closing cost range | $3,464.11 to $6,158.41 |
| Percentage of closing cost to home sale price | 1.15% to 1.54% |
Buyers and sellers in Rhode Island pay an average of $1,638.85 in tax combined for the closing. This accounts for 35.48% of the total average closing cost in Rhode Island.
| Value | |
|---|---|
| Average tax paid | $1,638.85 |
| Percentage of total closing cost | 35.48% |
The closing costs for buying a home in Rhode Island are above the national average after accounting for taxes. It’s 26 in our rankings which rates states from lowest to highest closing cost.
| Average total closing cost in Rhode Island | Ranking* | |
|---|---|---|
| Before taxes | $2,979.96 | 25 |
| After taxes | $4,618.81 | 26 |
*Ranked from lowest to highest of the 50 states plus Washington DC
Closing costs are inevitable when you're buying or selling a property. The exact amount will vary depending on where the property is located in Rhode Island.
To save on your home loan, consider comparing the fees and rates of top lenders before signing.
Fifteen years since its creation and after years of dramatic rises and falls, bitcoin has finally hit six figures, a feat most thought impossible even a few years ago.
Looking for quick funds? Discover if MoneyMutual’s network can meet your emergency needs.
A review of WithU Loans, a tribal lender that charges triple-digit APRs and has a pattern of complaints with the Better Business Bureau.
Need quick cash? See how BMG Money helps employees handle emergencies without a credit check.
Legit lenders don’t offer guaranteed approval loans, but some options come pretty close if you can meet the lenient requirements to qualify.
How to get first-time personal loans with no credit history, ways to improve your odds of qualifying and alternative loan options.
A review of Giggle Finance, a fintech offering revenue-based financing for self-employed individuals, gig workers and small businesses.
Compare some of the best allotment loans for federal employees, with competitive rates and lenient credit requirements.
Top alternatives to Kikoff for easy credit-building include Self, Cleo, Grow Credit, Fizz and One Finance.
The $500 Axos Bank bonus is now expired, but you can still earn $50 per qualifying referral, plus up to $400 with a new business account.