Total monthly cost of ownership
Cost to Own a Home in Narragansett Pier, Rhode Island
A $772,000 home here costs
$5,816per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $249,500 a year.
A standard mortgage calculator would have told you $4,209. The real number is $1,607 higher every month, 38% more than the payment most buyers budget for.
Compare Washington County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Narragansett Pier from a five-year rolling sample, and with about 3,080 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Washington County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Narragansett Pier against Washington County and Rhode Island
| Measure | Narragansett Pier | Washington County |
|---|---|---|
| Median home value | $771,800 | $469,800 |
| Median property tax | $4,939 | $4,954 |
| Effective tax rate | 0.640% | 1.054% |
| Median gross rent | $1,721 | $1,303 |
| Population | 3,080 | 130,073 |
The weather behind that power bill
Narragansett Pier 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 $160 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
Talk to someone who works this market
These are Narragansett Pier averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Narragansett Pier every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Narragansett Pier I already own here and may sell
Common questions
How much does it cost to own a home in Narragansett Pier?
A $772,000 home in Narragansett Pier, Rhode Island costs approximately $5,816 per month with 20% down at 7.24%. That is $4,209 principal and interest, $412 property tax, $324 homeowners insurance, $228 utilities and $643 set aside for maintenance.
What is the property tax rate in Narragansett Pier?
Narragansett Pier has an effective property tax rate of 0.640%, based on a median home value of $771,800 and median real estate taxes of $4,939. That is lower than the Washington County average of 1.054%.
What is the average home price in Narragansett Pier?
The median owner-occupied home value in Narragansett Pier, Rhode Island is $771,800, against $469,800 across Washington County.
Is it cheaper to rent or buy in Narragansett Pier?
Median gross rent in Narragansett Pier is $1,721 a month, against $5,816 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Narragansett Pier?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Narragansett Pier, Rhode Island at today's rate takes a household income of roughly $249,500 a year. That covers the full $5,816 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Narragansett Pier, 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.