The Real Cost of Owning Property in Narragansett, Rhode Island
This is Narragansett, Rhode Island -- separated from South Kingstown in 1888 and incorporated as its own town in 1901, a genuinely more recent incorporation than several of its Rhode Island neighbors, sitting along the eastern bank of the Pettaquamscutt River (also called the Narrow River) out to Narragansett Bay and the open Atlantic. Two numbers anchor this page. First, Narragansett's confirmed FY2026 residential property-tax rate is $6.79 per $1,000 of assessed value, per the Rhode Island Division of Municipal Finance's official FY2026 Tax Rates document -- genuinely low relative to nearby towns already covered on this site (Newport $8.69, Middletown $9.06, Portsmouth $13.28, same document). Second, Redfin's own February 2025 snapshot shows a real estate market sending two different signals at once: median sale price down 17.9% year over year to $659,000, while price per square foot is up 45.9% year over year to $604 -- not a simple hot-market or cooling-market story, and this page will not pretend it is one. Layer on a summer population that swells past 30,000 against a 14,532 year-round Census count, and the real, all-in cost of owning here depends heavily on when and how a property actually gets used. Every figure below is dated and sourced, and every gap -- insurance premiums, utility costs, and HOA or association fees, all of which vary by specific property -- is disclosed rather than filled in with a guess.
Home Prices: A Genuinely Mixed Signal, Not a Simple Trend
Per Redfin's own snapshot reflecting February 2025 data, Narragansett's median home sale price was $659,000 -- down 17.9% from the same period a year earlier. At the same time, median price per square foot moved the opposite direction: $604, up 45.9% year over year. Those two figures pointing in opposite directions is a genuinely notable, specific data point, and this page presents both rather than picking one to imply a simple trend. It likely reflects a shift toward smaller or differently sized homes selling during that window, but no confirmed source explains the exact cause, so this page will not speculate further than that.
Two supporting metrics: days on market improved to 61, down from 101 the year before -- homes selling roughly 40 days faster -- and sales volume grew from 10 homes sold (February 2024) to 12 homes sold (February 2025). Redfin's own Compete Score for Narragansett is 46, described as "somewhat competitive," with homes typically selling for about 2% below list price. Taken together -- falling median price, rising price per square foot, faster days on market, and rising sales volume -- this is a market with genuinely mixed signals, not one that fits neatly into a "hot" or "cooling" label. None of these figures should be treated as a live quote for a specific property; for a current, address-specific price opinion, get a live pull from Zillow or Redfin, or a comparative market analysis from a Rhode Island real estate agent working the Narragansett/South County market specifically.
Property Taxes: The Confirmed Mill Rate Is $6.79 per $1,000 -- Genuinely Low
Per the Rhode Island Division of Municipal Finance's official FY2026 Tax Rates document (covering the 2025 tax roll year, assessment date December 31, 2024), Narragansett's residential real estate (RRE) tax rate is $6.79 per $1,000 of assessed value; commercial (COMM) and personal property (PP) rates are both $9.17 per $1,000. That residential rate is genuinely low relative to several neighboring towns in the same official document -- for context only, not as settled current fact about those other towns beyond this brief comparison: Newport's RRE rate is $8.69, Middletown's is $9.06, and Portsmouth's is $13.28. Narragansett's rate sits meaningfully below each of those three.
A separate source, Ownwell, cites a median effective property tax rate of 0.66% for Narragansett, covering both ZIP codes 02879 and 02882. That is a different metric than the mill rate above -- an effective rate calculated against market value and incorporating exemptions, rather than the raw per-$1,000 rate applied to assessed value -- so this page presents both, labeled for what they are, rather than treating them as the same number. Rhode Island's standard calculation multiplies a property's assessed value by the current mill rate (per $1,000 of assessed value). Rates are set annually through each town's own budget process, so the $6.79 figure should still be reconfirmed with the Narragansett Tax Assessor's office before a purchase, refinance, or budgeting decision, in case a newer tax roll has since taken effect.
The Summer Population Swing: A Real Cost-of-Living Factor
Per the 2020 Census, Narragansett's year-round population was 14,532 -- down from 16,361 in the 2000 Census, a genuine two-decade decline, and one distinct from Middletown, Rhode Island's more recent, differently dated 2020-2025 dip already documented elsewhere on this site; these are two different towns with two separately sourced population stories, not the same trend. Population density is 1,048.1 people per square mile year-round. But the summer population exceeds 30,000 -- more than double the year-round figure -- a dramatic and specific seasonal swing that is a real cost-of-living consideration for anyone evaluating what owning property here actually means.
That swing shows up as real seasonal demand on local services -- restaurants, retail, parking, town infrastructure, and emergency and municipal services all see a very different load in June through September than in October through May. What this research could not confirm is any specific dollar impact of that seasonal swing on an individual owner's costs: no seasonal insurance surcharge, seasonal utility rate, or homeowners'/condo association fee schedule tied specifically to Narragansett was independently confirmed. Those figures vary by specific property and should be confirmed directly with a licensed Rhode Island insurance agent, the relevant utility provider, and any applicable association before budgeting around them.
Income, Population, and Who Already Lives Here
Per 2016-2020 American Community Survey figures reflected in Wikipedia's Narragansett entry, median age is 46.2. Median household income is $79,056 -- a different, lower Census metric than median family income, which is $125,357; households and families are measured differently by the Census Bureau, and this page presents both figures labeled rather than picking one to stand in for the other. The town's poverty rate is listed at 17.9%, but that figure is explicitly noted as heavily skewed by Narragansett's college-student population: the University of Rhode Island maintains a Narragansett Bay Campus in town (a graduate/research-oriented marine sciences campus, distinct from URI's main Kingston campus), and per the underlying research, a large share -- 71% of the town's 2010 poverty-line population -- were college students. That is a genuinely useful, hedged distinction between "the raw poverty rate looks high" and actual working-family economic hardship, and it matters for anyone trying to read the town's income picture accurately.
On employers, the only confirmed data point is dated: per a 2012 figure, the Town of Narragansett itself was the largest identified employer, with 448 employees. This research did not confirm a complete, current top-employer list, nor current-year (2025-2026) employment figures, so no current employer ranking is presented here beyond that one dated, disclosed figure.
What This Page Can't Tell You
A handful of real numbers simply were not confirmable this round, and this page says so directly rather than substituting a guess. No independently confirmed insurance premiums, utility costs, or HOA or condo-association fees for Narragansett properties were found in this research -- those figures vary significantly by property (waterfront exposure, flood zone, age of home, and association-specific terms all matter) and should be confirmed directly with a licensed Rhode Island insurance agent, the relevant local utility provider, and any specific homeowners' or condo association before treating any number as a budgeting assumption. Separately, Narragansett Town Beach reportedly charges both a parking fee (roughly $10 to $15) and a separate daily admission fee (around $10) -- a real, specific cost detail worth knowing, though exact current-year rates should be verified directly with the town before being treated as definitively current.
This page is independent research, not financial, tax, legal, or insurance advice. Before buying, financing, or budgeting around any figure here -- home price, property taxes, or seasonal cost factors -- confirm current numbers directly with the Narragansett Tax Assessor's office, a licensed Rhode Island real estate agent working the Narragansett/South County market, and a qualified financial or tax advisor.
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Get a Free Agent Referral →Independent research. No ads. No sponsored listings. Data sourced from: Redfin's own snapshot reflecting February 2025 Narragansett, RI housing-market data (median sale price $659,000, down 17.9% year over year; median price per square foot $604, up 45.9% year over year; days on market 61, improved from 101 the prior year; 12 homes sold versus 10 in the prior-year period; Compete Score 46, "somewhat competitive," with homes typically selling about 2% below list price). The Rhode Island Division of Municipal Finance's official FY2026 Tax Rates document (2025 tax roll, assessment date December 31, 2024), which confirms Narragansett's residential real estate tax rate at $6.79 per $1,000 of assessed value and its commercial/personal property rate at $9.17 per $1,000 (for comparison, Newport $8.69, Middletown $9.06, Portsmouth $13.28 per $1,000 RRE, same document). Ownwell's cited median effective property tax rate of 0.66% for ZIP codes 02879 and 02882 -- a different metric than the mill rate above, not to be conflated with it. U.S. Census Bureau 2020 Census and 2016-2020 American Community Survey figures as reflected in Wikipedia's Narragansett, RI entry (2020 population 14,532, down from 16,361 in 2000; population density 1,048.1 per square mile; median age 46.2; median household income $79,056; median family income $125,357; poverty rate 17.9%, noted as skewed by the town's University of Rhode Island Narragansett Bay Campus student population; summer population exceeding 30,000). This page could not confirm current insurance premiums, utility costs, or HOA/association fee schedules for Narragansett properties, nor a current-year Narragansett Town Beach parking or admission fee, nor a current, complete top-employer list beyond a dated 2012 figure -- each gap is disclosed above rather than filled in with an invented number. Rates are set annually and a newer tax roll may already be in effect; confirm all current numbers directly with the Narragansett Tax Assessor's office, a licensed Rhode Island real estate agent, and a live Zillow or Redfin pull before making any financial decision. Nothing on this page is legal, tax, insurance, or financial advice.