Quick facts: Ashaway, RI

Quick Facts

113.8
Cost of Living
above US average
1,662
Population
12.03
Crime Rate per 1000
below US average
$98,875
Median Income
above US average
$389,900
Median House Price
above US average
$3200.0
Average Rent
above US average
1%
Poverty Rate
below US average
4.2%
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 $98,875.

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Income Needed to Buy

βœ— Stretch
$122k/year
Based on $389,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $122k vs median $98,875
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Income Needed to Rent

⚠ Stretch
$137k/year
Based on $3200.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $137k vs median $98,875
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ashaway, RI

Ashaway is a charming village located in the town of Hopkinton, Rhode Island, nestled in Washington County. Known for its picturesque landscape and rural atmosphere, Ashaway offers a serene environment with a close-knit community. The area is characterized by scenic views, surrounded by rivers and lush greenery, making it ideal for outdoor enthusiasts who enjoy activities like hiking, fishing, and exploring nature. Despite its small size, Ashaway has a rich history, with several historic buildings and landmarks that reflect its roots. The village is conveniently located near other larger towns and cities, providing residents with access to shopping, dining, and cultural activities. Education is an important aspect of the community, with schools serving the local population. The nearby towns also offer more extensive educational and recreational facilities. Overall, Ashaway embodies the charm of a small Rhode Island village, perfect for those looking for a peaceful lifestyle while still being close to the amenities of more urban settings.

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