Rhode Island vs Tennessee: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Rhode Island and Tennessee. Updated for 2026.
Metric
Rhode Island
Tennessee
Median Home Price
$425K
$340K
Property Tax Rate
1.53%
0.56%
Avg Closing Costs
$7K
$5K
Closing Cost %
1.7%
1.5%
Transfer Tax
0.46%
0.37%
Homeowners Insurance
$2,200/yr
$2,400/yr
First-Time Buyer Program
RIHousing First Homes
10K DPA forgivable
THDA Great Choice Home Loan
Up to $25,000 DPA
Verdict
Tennessee wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, Tennessee offers meaningful savings compared to Rhode Island. Both states offer first-time buyer programs — explore the state pages for full details.