Quick facts: Slatersville, RI

Quick Facts

113.8
Cost of Living
above US average
3,700
Population
4.05
Crime Rate per 1000
below US average
$85,000
Median Income
above US average
$267,500
Median House Price
above US average
$2169.24
Average Rent
above US average
5%
Poverty Rate
below US average
3.2%
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 $85,000.

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Income Needed to Buy

βœ“ Affordable
$84k/year
Based on $267,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($85,000) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$93k/year
Based on $2169.24/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $93k vs median $85,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Slatersville, RI

Slatersville is a quaint village located within the town of North Smithfield in Rhode Island. Rich in history, it was established in the 19th century as a notable textile mill village. The Slatersville Historic District showcases well-preserved mill buildings, charming homes, and the iconic Slatersville Congregational Church, reflecting its picturesque New England architecture. Surrounded by scenic landscapes, Slatersville offers residents and visitors access to natural beauty, including the nearby Blackstone River. The area provides various outdoor activities, such as hiking and fishing, appealing to nature enthusiasts. With a small-town feel, Slatersville enjoys a close-knit community, fostering a friendly atmosphere. While it retains its historic charm, local amenities and services are within easy reach in neighboring towns. Slatersville is conveniently located near major roads, allowing for easy travel to nearby urban areas such as Providence, making it a desirable spot for those seeking a peaceful retreat while remaining connected to city life. Overall, Slatersville is a hidden gem in Rhode Island, blending history, community spirit, and natural beauty.

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