Mississippi vs Rhode Island: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Mississippi and Rhode Island. Updated for 2026.
Metric
Mississippi
Rhode Island
Median Home Price
$175K
$425K
Property Tax Rate
0.8%
1.53%
Avg Closing Costs
$2K
$7K
Closing Cost %
1.4%
1.7%
Transfer Tax
None
0.46%
Homeowners Insurance
$2,400/yr
$2,200/yr
First-Time Buyer Program
MHC Smart Solution
Up to $10,000 DPA
RIHousing First Homes
10K DPA forgivable
Verdict
Mississippi wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $175K and lower overall costs, Mississippi offers meaningful savings compared to Rhode Island. Both states offer first-time buyer programs — explore the state pages for full details.