Best Affordable Places to Live in Rhode Island in 2025

This tiny, rural town boasts some affordable properties not to mention lovely scenery and an assortment of shops and restaurants. The median age here is 38.6, and some residents commute to work in New London, Connecticut. Providence is within reach as well, at 40 minutes away. If you’re embarking on your first home purchase, spend some time with a first-time homebuyer guide to learn the ins and outs of the process.

Located in the rural hills of the Pawtuxet River Valley due west of the larger Warwick, Coventry boasts one of the state’s best home price-to-income ratios (the average value of its homes divided by the median income of its residents), which helped land it on our list of the best affordable places to live in Rhode Island. It also offers plenty of biking and walking trails, plus historical sites connected to its history as a mill town.

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This coastal, central-Rhode Island city has easy access to Providence, Narragansett, and Newport and all the cultural and historic sites these cities offer (not to mention some of the best doughnuts in a state known for this breakfast treat). Warwick also has many interesting sites in its own right, plus beach access and restaurants in abundance. Homes for sale move briskly here, so if you’re looking to buy in Warwick, be prepared by going through the mortgage preapproval process in advance.

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Parents who work in Providence might like Lincoln, which is just north of that larger city and has a state park located within the town, as well as many historic sites. Hearthside, a historic house open to visitors, has a year-round blacksmith’s shop that kids will enjoy. (Parents may be more excited by the fact that Lincoln’s school district receives high ratings.) Lincoln is also home to one of two full-service casinos in the state, which provides residents with both employment and entertainment.

Look into the different types of mortgage loans so you are familiar with the options before the search gets serious.

It’s easy to see why families might be drawn to this quiet village within the larger Hopkinton area in the southwestern corner of the state. It has a suburban but rural feel, and parents may be attracted to its well-regarded schools.

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Exeter occupies a large, rural area southwest of Providence that extends all the way to the Connecticut border. There are plenty of farms, forests, and other open spaces here for families to enjoy. Parents may appreciate that Exeter and its affluent neighbor West Greenwich share one of the most highly rated school systems in the state.

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With a median age of 36, this Providence-county city has a relatively young population. It is also the corporate headquarters of CVS Health, and health care, manufacturing, and retail are the city’s largest industries. For those who do business in Boston or need a major airport nearby, Woonsocket is a relatively convenient hour and 15 minutes away by car. Young adults will enjoy the Stadium Theater, biking and hiking on the area’s trails, and city events such as Autumnfest. While the home price-to-income ratio is on the high side, the average rent is a very reasonable $1,595.

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The city is known as the birthplace of the American Industrial Revolution and was a center for textile industries. Today, Pawtucket has a variety of industries, arts-related organizations, and small businesses; it nurtures a concentration of artists, including painters, sculptors, and glass-blowers. The city offers dozens of restaurants and a year-round calendar of festivals for entertainment. More than half of Pawtucket’s residents are renters, an unusually high concentration, and the average rent here is $1,750. Residents are just 15 minutes from downtown Providence.

Check out a home loan help center to learn more about the homebuying and mortgage process if you’re pondering your first home purchase.

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One of Rhode Island’s largest cities is a quick 15-minute commute by car to Providence, so access to multiple job markets is a draw. The area offers river shoreline access, with walking and hiking opportunities, as well as plenty of coffee shops, restaurants, and bars and breweries. Young adults looking to purchase their first home will want to read up on tips on how to qualify for a mortgage.

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Woonsocket’s relatively affordable cost of living makes it an attractive option for retirees on a fixed budget. And since Rhode Island is such a small state, retirees here are never far from their heart’s desire, whether that is hiking and walking at a state park, venturing south to the state’s lovely beaches, or enjoying the local cultural offerings. Woonsocket has several apartment buildings designated for the elderly, as well as multiple assisted living facilities. Medical care is also easily accessible, either in the local community hospital or at the state’s largest hospital in Providence.

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This diverse town just north of Pawtucket is a former manufacturing hub, and one of its retirement communities even occupies a historic mill building. Central Falls is small but very densely populated. Providence is less than a half-hour away by car, so access to the big city’s cultural offerings (and its medical care) is easy. While the home price-to-income ratio is high, the average home value here is well below the national average (unusual for Rhode Island) at $355,430.

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This town at the eastern edge of Rhode Island, about 40 minutes away from Providence, is known as a place that tends to attract retirees. Residents here enjoy two beaches on the Sakonnet River for swimming, walking, fishing, or bird-watching. The Four Corners area is a meeting place for those who enjoy historic buildings as well as the local shops and restaurants. Countryview Estates, a 60-acre complex, caters to the 55-plus set, and The Villages on Mount Hope Bay, on the waterfront, is for active adults in the same age group.

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Warren offers easy access to both beaches and farmland from its location on the East Bay between Providence and Newport. It has an abundance of art galleries and studios, gourmet food shops, and quaint stores. A level bike path along an old railroad spur connects local schools and a park. Residents praise the warm, welcoming community, the historic downtown, and the city’s work to revitalize the waterfront. The town beach has great amenities for families with young kids. The average home value here, at $498,546, is above national average but reasonable by Rhode Island waterfront standards.

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One of the few places in Rhode Island that directly borders the ocean (vs. the bay or a riverfront), Westerly has a buzzing scene of shops, restaurants, and bars, plus a waterfront amusement park with a century-old carousel. In the summer, the Chamber of Commerce screens movies on the beach. If you have your heart set on an ocean-view estate, this is the one city where you’re most likely to need a jumbo mortgage loan. But while homes on the seaside command a high price, the average home value here, at $544,000, indicates there are inland properties that are more affordable.

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Bristol has beaches in abundance. Popular options include Bristol Town Beach, Juniper Trail Beach, and Walley Street Beach. Residents might come here for the bayside vibes, but they undoubtedly stay thanks to other quality-of-life factors, such as the vigorous performing, cultural, and literary arts scene.