Quick facts: Forestdale, RI

Quick Facts

113.8
Cost of Living
above US average
6,245
Population
2.4
Crime Rate per 1000
below US average
$80,000
Median Income
below US average
$475,000
Median House Price
above US average
$2097
Average Rent
above US average
5%
Poverty Rate
below US average
3.0%
Unemployment Rate
below 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
$149k/year
Based on $475,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $149k 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 Forestdale, RI

Forestdale is a quaint village located within the town of North Smithfield in Rhode Island. Nestled in the northern part of the state, this charming community is known for its picturesque landscapes and a strong sense of local pride. Forestdale features a mix of residential areas, small businesses, and local amenities, making it a peaceful place to live and visit. The area is characterized by its beautiful natural surroundings, including parks and conservation areas, perfect for outdoor enthusiasts. While it maintains a suburban feel, Forestdale offers easy access to nearby urban centers, allowing residents to enjoy both the tranquility of village life and the conveniences of city living. Education is a priority in this family-friendly community, with several schools serving the area. Cultural events and community gatherings foster a strong sense of belonging among residents. With a rich history and a commitment to preserving its charm, Forestdale remains a hidden gem in Rhode Island, ideal for those seeking a relaxed lifestyle without straying too far from the amenities of larger cities.

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