MonitorBankRates
☰
New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Carolina, RI Housing Affordability Index

Carolina, Rhode Island has an MBR Housing Affordability Index score of 115.4 (More Affordable Than Average) as of October 30, 2026, ranking 2nd most affordable of 24 scored Rhode Island cities, compared with 81.2 statewide and 97.4 nationally. On a median-priced $396,400 home with 20% down, the Rhode Island average 30-year fixed rate of 7.24% means a monthly principal and interest payment of about $2,162, or 19% of the city’s $140,196 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Carolina is updated every night from live Rhode Island mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Carolina MBR-HAI 115.4 More Affordable Than Average
Rank in Rhode Island 2 of 24 1 = most affordable
Rhode Island 81.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.24% Rhode Island lenders
Median home value $396,400 U.S. Census Bureau

Carolina is 34.2 points above the Rhode Island score. Scores as of October 30, 2026. See the Rhode Island index

View Carolina Mortgage Rates

What It Takes to Buy in Carolina

$2,162/mo
Principal & Interest
Median home, 20% down, 7.24%
$92,600
Income Needed
To keep the payment at 28% of income
$140,196
Median Household Income
Rhode Island: $87,796
2.8x
Price-to-Income Ratio
Rhode Island: 4.6x
$1,408/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,627/yr
Median Property Tax
0.91% of median value
30.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
100.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Carolina, Rhode Island. The rate is the Rhode Island average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

How Carolina Ranks in Rhode Island

Cities with similar scores
#1Bradford122.2
#2Carolina115.4
#3Clayville114.0 #4Ashaway112.4 #5Pascoag105.7
Powered byMonitorBankRates

Cite the Carolina Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Carolina, Rhode Island score: 115.4 (More Affordable Than Average), ranked 2 of 24 Rhode Island cities. monitorbankrates.com/housing-affordability-index/rhode-island/carolina”