Rhode Island is the smallest state in the union. While Rhode Island real estate prices aren’t the smallest, the appreciation rate is healthy.
Located between Connecticut and Massachusetts on the Atlantic Ocean, Rhode Island is a cozy state dominated by water. While a good part of the state is coastline on the Atlantic, the ocean also penetrates into the state in areas such as Narragansett Bay. A beautiful state, Rhode Island has historically been the playground of the affluent and remains so today. Towns such as Newport are populated with over the top mansions that seem to be more a statement of celebrity than wealth. With the turning of the leaves, all of Rhode Island is a beautiful place to be in the fall.
The state capital of Rhode Island, Providence is a surprisingly large city with a definite New England atmosphere. Built over rolling hills and the meeting of two rivers, walking through the city feels like visiting the early years of our nation. With colonial residences throughout the city, Providence carries a certain traditional atmosphere that is only really broken up by Brown University, an Ivy League university. If you’ve enjoyed older cities in England, you might find Providence very appealing.
Newport has historically been the hot spot for the rich on the east coast. The town is littered with over the top mansions and manors that simply have to be seen to be believed. Fortunately, a number of them are open to the public for viewing so you can get a real feel for how the rich played in the past. You’ll be able to stroll through such homes as “The Breakers”, Cliff Walk and the 70 room Vanderbilt home. Each of the homes are designed to make a major impression on you and they will. For daily living, Newport is a pleasant location, but you’ll need a hefty bank account to make it work.
Rhode Island Real Estate
Rhode Island real estate is not exactly the cheapest on the Atlantic seaboard. Prices in Newport can be obscene while Providence homes run in the range of $300,000 to $600,000. In truth, suggesting prices in Rhode Island is a fools game as each location is unique. I can say, however, that real estate appreciates throughout the state with the 2005 average being a health 16.5 percent.