CALCMONEY // HOME AFFORDABILITY // RI // PAWTUCKET
How much house can you afford in Pawtucket? Based on local median home prices, current RI mortgage rates, and Pawtucket property tax data.
$320,000
$2,276/mo
$97,539/yr
$119,345
Monthly housing costs of $2,276 represent 52.5% of Pawtucket's median gross monthly income ($4,333/mo). At 52.5%, median-income buyers in Pawtucket are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $320,000 |
| Down Payment (20%) | $64,000 |
| Loan Amount | $256,000 |
| Monthly PI Payment | $1,695 |
| Monthly Property Tax | $448 |
| Monthly Insurance Est. | $133 |
| Total Monthly PITI | $2,276 |
| Housing Cost % of Income | 52.5% |
| Required Income (28% rule) | $97,539/yr |
| Max Affordable Home | $119,345 |
$11,200
$2,844/mo
Pawtucket Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $320,000 | Pawtucket city median |
| Down Payment (20%) | $64,000 | Conventional loan |
| Monthly PITI | $2,276 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $97,539 | Annual gross |
| Max Affordable Home | $119,345 | Based on median income |
| FHA Down (3.5%) | $11,200 | Minimum FHA |
| Housing Cost % of Income | 52.5% | Median income: $52,000/yr |
| Property Tax Rate | 1.68% | $5,376/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Pawtucket is $320,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $256,000, generating a monthly P&I payment of $1,695. Adding property taxes ($448/mo) and homeowners insurance ($133/mo) brings total monthly PITI to $2,276.
Pawtucket's property tax rate of 1.68% is near the national average, adding a standard increment to monthly housing costs. On the Pawtucket median home, that is $448/month, or $5,376 per year.
Rhode Island levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Pawtucket should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Pawtucket's median income of $52,000/year can afford up to $1,213/month in total housing costs. Based on Pawtucket's mortgage rate of 6.95% and property tax rate of 1.68%, that translates to a maximum affordable home price of approximately $119,345 with 20% down on a 30-year loan.
To afford the median Pawtucket home priced at $320,000, you need an annual gross income of approximately $97,539. Total monthly housing costs (principal and interest of $1,695, property taxes of $448, and insurance of $133) come to $2,276/month, which equals 28% of the required income.
At the median home price of $320,000 and median household income of $52,000, the total monthly housing cost of $2,276 represents 52.5% of gross monthly income. This is well above the standard 28% threshold, making Pawtucket a challenging market for buyers at median income.
A conventional 20% down payment on the median Pawtucket home of $320,000 is $64,000. An FHA loan requires just 3.5% down — $11,200 — but adds mortgage insurance of roughly $219/month, bringing total FHA payments to $2,844/month.
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