Quick facts: Albion, RI

Quick Facts

113.8
Cost of Living
above US average
7,000
Population
21.43
Crime Rate per 1000
below US average
$80,000
Median Income
below US average
$599,900
Median House Price
above US average
$2097
Average Rent
above US average
10%
Poverty Rate
below US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $80,000.

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Income Needed to Buy

βœ— Stretch
$188k/year
Based on $599,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $188k vs median $80,000
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Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2097/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $80,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Albion, RI

Albion is a quaint village located within the town of Lincoln in Providence County, Rhode Island. Nestled along the scenic Blackstone River, it is rich in history and charm. Albion is known for its serene residential atmosphere, characterized by tree-lined streets and close-knit community ties. The area offers access to natural beauty, with nearby parks and green spaces, including the Lincoln Woods State Park, ideal for hiking, biking, and outdoor activities. Historically, Albion thrived during the industrial revolution due to its proximity to the Blackstone River, which powered many mills in the area. Today, it retains a small-town feel while being conveniently close to larger urban centers like Providence, which is just a short drive away, providing residents access to a vibrant cultural scene, dining, and shopping options. Local amenities include family-owned businesses and essential services, contributing to the village’s community vibe. Albion is also served by Lincoln Public Schools, making it a suitable place for families looking for a peaceful setting with educational opportunities. Overall, Albion blends history, community spirit, and access to natural beauty, making it a charming place to live.

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