Quick facts: Chepachet, RI

Quick Facts

113.8
Cost of Living
above US average
1,755
Population
8.55
Crime Rate per 1000
below US average
$92,228
Median Income
above US average
$439,900
Median House Price
above US average
$2900.0
Average Rent
above US average
5%
Poverty Rate
below US average
4.3%
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 $92,228.

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Income Needed to Buy

βœ— Stretch
$138k/year
Based on $439,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $138k vs median $92,228
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Income Needed to Rent

⚠ Stretch
$124k/year
Based on $2900.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $124k vs median $92,228
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Chepachet, RI

Chepachet is a charming village located in the town of Glocester, Rhode Island. Nestled in the picturesque landscapes of northern Rhode Island, it is part of the Providence metropolitan area. Chepachet boasts a rich history, with roots dating back to the early 18th century. The village is known for its quaint atmosphere and historical significance, highlighted by numerous preserved buildings and landmarks. The natural beauty surrounding Chepachet includes lush woods, serene lakes, and rolling hills, making it a haven for outdoor enthusiasts. Residents and visitors can enjoy various recreational activities, such as hiking, fishing, and exploring local parks. Chepachet is also home to a vibrant community, featuring small businesses, antique shops, and local eateries that reflect the town's unique character. The annual Glocester Festival, held in Chepachet, fosters community spirit and showcases local artisans. With its blend of history, natural beauty, and a close-knit community, Chepachet offers a tranquil retreat while still being conveniently located near the amenities of larger cities in Rhode Island.

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