Quick facts: Foster, RI

Quick Facts

113.8
Cost of Living
above US average
4,606
Population
3.26
Crime Rate per 1000
below US average
$80,000
Median Income
below US average
$449,900
Median House Price
above US average
$2225.0
Average Rent
above US average
5%
Poverty Rate
below US average
3.7%
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
$141k/year
Based on $449,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $141k vs median $80,000
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Income Needed to Rent

⚠ Stretch
$95k/year
Based on $2225.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $95k 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 Foster, RI

Foster is a small town located in Providence County, Rhode Island. With a population of just over 4,500 residents, it embodies a rural charm and a close-knit community vibe. Founded in 1781, Foster is known for its beautiful landscapes, featuring rolling hills, forests, and numerous ponds that offer a peaceful escape from urban life. The town maintains a rich history with several historic structures and sites, including the Foster Country Store and various colonial-era homes. Outdoor enthusiasts can enjoy activities such as hiking, birdwatching, and fishing, with ample opportunities to explore the natural beauty of Rhode Island. Foster is primarily residential, and while it does not have a bustling commercial center, residents benefit from proximity to nearby larger towns for shopping and dining. The community values its rural character and actively promotes conservation efforts and local events throughout the year, fostering a tight-knit atmosphere. Education in Foster is served by local schools, with children attending local elementary and high schools within the Foster-Glocester school district. Overall, Foster, RI, is an idyllic location for those seeking tranquility and a sense of community.

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