Total monthly cost of ownership
Cost to Own a Home in Charlestown, Rhode Island
A $546,000 home here costs
$4,176per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,807. The real number is $1,369 higher every month — 49% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Charlestown against Washington County and Rhode Island
| Measure | Charlestown | Washington County |
|---|---|---|
| Median home value | $545,800 | $469,800 |
| Median property tax | $4,223 | $4,954 |
| Effective tax rate | 0.774% | 1.054% |
| Median gross rent | $1,216 | $1,303 |
| Population | 1,648 | 130,073 |
The weather behind that power bill
Charlestown sits in Washington County, which averages a high of 80.3°F in its hottest month and a low of 19.3°F in its coldest, with 51.57" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 442 cooling and 6,173 heating degree days, which is what sets the $265 electricity line above.
See the full climate breakdown for Washington County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Rhode Island
Common questions
How much does it cost to own a home in Charlestown?
A $546,000 home in Charlestown, Rhode Island costs approximately $4,176 per month with 20% down at 6.66%. That is $2,807 principal and interest, $352 property tax, $229 homeowners insurance, $333 utilities and $455 set aside for maintenance.
What is the property tax rate in Charlestown?
Charlestown has an effective property tax rate of 0.774%, based on a median home value of $545,800 and median real estate taxes of $4,223. That is lower than the Washington County average of 1.054%.
What is the average home price in Charlestown?
The median owner-occupied home value in Charlestown, Rhode Island is $545,800, against $469,800 across Washington County.
Is it cheaper to rent or buy in Charlestown?
Median gross rent in Charlestown is $1,216 a month, against $4,176 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Charlestown — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Rhode Island.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.