Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Closing costs in Rhode Island

See how much you might have to shell out in closing costs when you buy or sell a home in this state.

Updated . What changed?

Fact checked

The average closing cost in Rhode Island is $4,527 after taxes, or approximately 1.13% to 1.51% of the final home sale price.

Closing cost stats in Rhode Island

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 $3,395 and $6,036 in closing costs after taxes.

Data Value
Average home sale price $300,000 to $400,000
Average total closing cost $4,527
Expected closing cost range $3,395 to $6,036
Percentage of closing cost to home sale price 1.13% to 1.51%
Remember, these averages are based on sample data. Your closing costs may vary based on your lender, the size of your loan and whether or not you're paying in cash.

How much does tax affect the closing cost?

Buyers and sellers in Rhode Island pay an average of $1,615 in tax combined for the closing. This accounts for 35.67% of the total average closing cost in Rhode Island.

Value
Average tax paid $1,615
Percentage of total closing cost 35.67%

How do closing costs in Rhode Island compare nationally?

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 $2,912 25
After taxes $4,527 26

*Ranked from lowest to highest of the 50 states plus Washington DC

Bottom line

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.

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site