02831 — Kent County, Rhode Island Market Snapshot
Housing market data for zip code 02831 in Kent County, Rhode Island. Updated monthly with median prices, days on market, and more.
Market Sales Data
13 sales in 2026 (year to date)
Median Sale Price
$695,000
Days to Sell
72
Homes Sold
13
Inventory
8
Sale-to-List
98.6%
New Listings
12
Price/SqFt
$277
Pending Sales
9
Conforming Loan Available
The median home in 02831 at $695,000 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
With homes sitting for 72 days on average, 02831 favors buyers. There may be opportunities to negotiate below asking price or request seller concessions for closing costs or rate buydowns.
Sale-to-List Ratio
Homes are selling very close to asking price in 02831 (98.6% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
The median home in 02831 at $695,000 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 02831 are set at the county level.
2026 Loan Limits — Kent County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $787,750 |
| 2 Units | $1,066,250 | $1,008,450 |
| 3 Units | $1,288,800 | $1,219,000 |
| 4 Units | $1,601,750 | $1,514,950 |
Affordability Snapshot — Zip 02831
To purchase the median home at $695,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,475.
Monthly Payment
$5,475
Income Required
$234,637
Principal & Interest
$4,282/mo
Down Payment (5%)
$34,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 02831.
Estimated Monthly Payment
$4,451
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