In short
The median value of owner-occupied homes is $455,700 in Rhode Island and $413,800 in the city of Providence, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Rhode Island prices up 4.7% and Providence–Warwick prices up 4.2% from Q2 2025 to Q2 2026.
What it costs: median value in 2024
| Area | Median value, 2024 | Margin of error (90%) |
|---|---|---|
| United States | $360,600 | ±$618 |
| Rhode Island | $455,700 | ±$6,647 |
| Providence–Warwick, RI-MA metro area | $471,000 | ±$5,256 |
| Providence County | $422,000 | ±$8,770 |
| City of Providence | $413,800 | ±$29,941 |
Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.
Four points stand out:
- The Rhode Island median is $95,100 above the national median.
- The city of Providence sits $41,900 below the state median and $57,200 below the Providence–Warwick metro median. The metro area includes towns outside the city, which pull its figure up.
- The margin of error for the city (±$29,941) is much wider than for the state, because the sample is smaller. The true city median is very likely between about $383,900 and $443,700.
- Providence County ($422,000) is $8,200 above the city figure, a gap well inside the city’s margin of error. Do not read it as a real difference.
How prices have moved: the FHFA index
FHFA reports the Providence area as the Providence–Warwick, RI-MA metro area, the same area as the ACS metro figure above.
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| United States | +2.1% | +33.4% |
| Rhode Island | +4.7% | +45.5% |
| Providence–Warwick, RI-MA metro area | +4.2% | +43.1% |
Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.
Rhode Island prices rose more than twice as fast as the national index over the past year, and about 12 points more over five years. The FHFA files used here have no index for the city of Providence itself, so the metro figure is the closest measure of the trend there.
A worked example
A Providence-area home worth $340,000 in Q2 2021 would be about $486,000 in Q2 2026 on the Providence–Warwick index index (+43.1%); over the last year alone it would gain about $19,400 (+4.2%). One home can differ widely.
How to use these figures when buying
Related: Rhode Island closing costs guide, buying a home in Providence and Rhode Island first-time buyer programs.
Method and dataset
ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Rhode Island (0400000US44), Providence–Warwick, RI-MA metro area (310M700US39300), Providence County (0500000US44007), Providence city (1600000US4459000). Read through the data.census.gov API on October 13, 2026.
FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Rhode Island), metro series (Providence–Warwick, RI-MA, code 39300) and U.S. series. Index values used: Rhode Island 420.98 (Q2 2025), 302.84 (Q2 2021) and 440.57 (Q2 2026); Providence–Warwick 426.31, 310.37 and 444.06; United States 426.58, 326.58 and 435.69.
Frequently asked questions
What is the median home value in Rhode Island?
Rhode Island’s 2024 ACS median home value is $455,700 (±$6,647), against $360,600 for the nation: owners’ own estimates, not sale prices.
What is the median home value in Providence?
For the city of Providence, the 2024 ACS median value is $413,800 (±$29,941). Providence County is at $422,000 and the Providence–Warwick, RI-MA metro area at $471,000.
Are Rhode Island home prices going up or down?
FHFA’s purchase-only index shows Rhode Island prices rose 4.7% over the year to Q2 2026, and the Providence–Warwick area rose 4.2%. Over five years, they rose 45.5% and 43.1%.
How Rhode Island compares with the other States
At $455,700, Rhode Island ranks 10th of the 50 States for median home value, in the top ten and 26% above the national $360,600.
The States closest in median value are Nevada ($455,500) and New Hampshire ($458,800). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Rhode Island is $116,200 above the middle of that ranking (Wyoming).
On the FHFA index, Rhode Island prices rose 4.7% over the year to the second quarter of 2026, which places the State 8th of 50, 2.6 points ahead of the national +2.1%. Over five years the gain is +45.5% (7th of 50; nation +33.4%).
Level and direction point the same way: Rhode Island is among the dearest States and among those where prices rose fastest this year.
Over five years, Rhode Island's +45.5% annualises to +7.8% a year (nation +5.9%). The latest year (+4.7%) is 3.1 points under that average, a slower pace than the five-year average.
Providence, the main city, has a median of $413,800, 21st of the 49 main cities Payotte covers. That is 9% below the Rhode Island median, a discount that ranks 38th of 49.
The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Rhode Island (+4.7%) is 3.6 points below the top and 5.9 above the bottom; Connecticut (+4.7%) and Wisconsin (+4.8%) are the nearest to it.
For scale, 20% of the Rhode Island median is $91,140, against $72,120 at the national median.
Compare with the other states: Median home price by state.
More Rhode Island guides
- Closing costs in Rhode Island: what buyers and sellers pay
- Rhode Island real estate conveyance tax: rate and who pays
- How Rhode Island property tax works: rates and appeals
- Seller disclosure requirements in Rhode Island
- Do you need a real estate attorney to close in Rhode Island?
- Foreclosure process in Rhode Island
- First-time home buyer programs in Rhode Island
- How to verify a real estate license in Rhode Island
Sources
- Census Bureau, ACS 1-Year 2024, table B25077 (consulted October 13, 2026)
- Census Bureau, 2025 ACS release schedule (consulted October 13, 2026)
- FHFA news release, August 25, 2026 (consulted October 13, 2026)
- FHFA HPI datasets (quarterly, purchase-only) (consulted October 13, 2026)