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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.

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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.

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