Rhode Island

Rhode Island single-family homes nearing $500,000 median sales price

Published

1 year ago

October 18, 2024

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Rhode Island single-family homes nearing 0,000 median sales price

Home Buying

Homes in Rhode Island sold for a median price of $485,000 in September, which is $30,000 more than last year.

In Washington County — home to Block Island (above), North Kingstown, and South Kingstown, among other high-income enclaves — the median sales price for a single-family home was $700,000, a 19.66 percent jump since September 2023. Adobe Stock

It cost buyers $30,000 more to purchase a single-family home in Rhode Island in September than it did last fall, according to a report the state’s realtor association released Thursday.

The median sales price for a single-family home in Rhode Island was $485,000 in September, which reflects a 6.6 percent year-over-year increase.

Soaring home prices, mortgage rates that are at their highest level in two months, and a lack of inventory have put a damper on sales. “Closed sales fell by 3 percent, and pending sales … also dropped by 2.2 percent,” according to the report.

The inventory of homes “continues to creep upward” but is “still critically low,” according to the association. The state had a 2.4-months’ supply of homes on the market in September. A healthy market has at least a five.

“Each month since January 2022, pending sales have fallen compared to the previous year, a sign that housing affordability is not improving in Rhode Island,” Sally Hersey, president of the Rhode Island Association of Realtors, said in a news release. “The median sales price of single-family homes has risen year over year every month since January 2017. We desperately need to build more housing.”

Home buyers who are turning to the condo market to fulfill the American dream of homeownership shelled out nearly $48,000 more last month for a unit than they did in September 2023. The median sales price of $427,450 last month was a record and reflected a 12.52 percent year-over-year increase. Sales were down 5.3 percent, but the inventory got a bump; it’s up 31 percent year over year.

“We haven’t yet seen much of an effect from the Federal Reserve’s September rate cut on Rhode Island’s housing market. Our main problem continues to be supply. The Realtor Association is committed to supporting all viable legislative initiatives that can help in that regard in the 2025 legislative session,” Hersey said.

Some buyers purchase multifamily homes to cover their mortgages. They live in one unit and rent out the other/s. That endeavor gets more challenging by the month. The median sales price for a multifamily in Rhode Island “skyrocketed to a record $595,000” in September, an increase of nearly 25 percent.

Buyers still in the game had more listings to consider. The inventory in Rhode Island’s multifamily market increased 7.4 percent compared to September 2023.

In a drilldown into single-family home prices, the report noted that Washington County — home to Block Island, North Kingstown, and South Kingstown, among other high-income enclaves — the median sales price for a single-family home ($700,000) jumped 19.66 percent in September. The median sales price in September 2023 was a more palatable $585,000.

Providence County, home to the capital, the median sales price rose a more modest 8.64 percent to $440,000.

The only county that saw a price drop was Bristol. The median sales price of $622,753 reflects a 17.52 decrease, but that is based on only 34 sales. Compare that to Washington County (111 sales) and Providence County (345). Fewer sales can skew the results.

Eileen McEleney Woods is the real estate editor for Boston.com and editor of the Boston Globe’s Sunday real estate section (Address).

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Rhode Island

Wicked Tulips announces move to North Kingstown

Published

7 hours ago

March 11, 2026

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Wicked Tulips announces move to North Kingstown

Wicked Tulips announced it is opening a new location in North Kingstown.

Its new location on 140 Exeter Rd. is double the size of its previous location.

The business said it will be keeping its second location in Preston, Connecticut.

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The farm is projected to open on April 22, 2026.

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Rhode Island

RI Lottery Mega Millions, Numbers Midday winning numbers for March 10, 2026

Published

19 hours ago

March 11, 2026

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The Rhode Island Lottery offers multiple draw games for those aiming to win big.

Here’s a look at March 10, 2026, results for each game:

Winning Mega Millions numbers from March 10 drawing

16-21-30-35-65, Mega Ball: 07

Check Mega Millions payouts and previous drawings here.

Winning Numbers numbers from March 10 drawing

Midday: 9-1-3-0

Evening: 4-2-1-9

Check Numbers payouts and previous drawings here.

Winning Wild Money numbers from March 10 drawing

11-12-16-27-34, Extra: 05

Check Wild Money payouts and previous drawings here.

Winning Millionaire for Life numbers from March 10 drawing

03-27-43-45-49, Bonus: 04

Check Millionaire for Life payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your prize

Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
Winners of the Millionaire for Life top prize of $1,000,000 a year for life and second prize of $100,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.

When are the Rhode Island Lottery drawings held?

Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
Lucky for Life: 10:30 p.m. ET daily.
Millionaire for Life: 11:15 p.m. ET daily.
Numbers (Midday): 1:30 p.m. ET daily.
Numbers (Evening): 7:29 p.m. ET daily.
Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.

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Rhode Island

Thousands drop public health insurance coverage in RI after premiums spike

Published

1 day ago

March 10, 2026

Press Room

Thousands drop public health insurance coverage in RI after premiums spike

Thousands of Rhode Islanders dropped their health insurance plans after federal subsidies expired.
Enrollment in HealthSource RI, the state’s marketplace, fell by 20% in early 2024.
The average premium for enrollees more than doubled as federal funding ended.

Thousands of Rhode Islanders dropped health insurance coverage through Rhode Island’s public insurance marketplace instead of maintaining plans with rising premiums and lower subsidies, HealthSource RI said.

Enrollment through HealthSource, Rhode Island’s “Obamacare” exchange, plunged 20% between the end of last year and the close of the annual enrollment period a month later, as federal funding for premium tax credits expired, according to a HealthSource new release.

There were 48,060 individual and family enrollments on Dec. 31 of last year, the day the premium subsidies from the American Rescue Plan and Inflation Reduction Act ended.

On Feb. 1, there were 38,557 enrollments.

Before this drop, HealthSource has posted enrollment increases almost every year since Affordable Care Act exchanges launched in 2013.

How did we get here?

Last year, the Republican-controlled federal government declined to extend premium tax credits after a protracted budget battle with congressional Democrats, who are now negotiating to restore the health insurance subsidies.

The lapse in subsidies coincided with an increase in premiums, driven by a combination of factors, which sent the total cost of coverage climbing.

The average premium across HealthSource enrollees more than doubled (101%,) the exchange said, or $111 per person, per month.

Many enrollees opted for cheaper insurance plans despite their higher deductibles and out-of-pocket costs.

Others dropped coverage altogether.

“The increase in premiums, combined with the decrease in federal supports, makes this an incredibly challenging year for folks depending on HealthSource RI for health coverage,” HealthSource Director Lindsay Lang said in the release. “Having health coverage helps protect against one bad turn of luck becoming years of financial burden. We will work with every customer to find options that are best for their needs and budget, and continue to work with state leaders and our federal delegation to find long-term solutions.”

Could help be on the way?

Gov. Dan McKee included $9.5 million in his proposed state budget for the year starting July 1 to subsidize coverage for some of the lowest-income exchange enrollees.

The enrollment declines show that may be too little for some Rhode Islanders, and too late for others.

“It is disheartening but not surprising that, as President Trump’s policies have caused health insurance costs to skyrocket, more Rhode Islanders are struggling to pay for health coverage,” McKee said.

Since the exchange opened in 2013, Rhode Island’s uninsured rate has declined by two thirds, down to 2.2%, HealthSource said.

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