Affordability is one of the biggest hurdles facing homebuyers who want to live on Aquidneck Island. For many families and first-time buyers, the math simply hasn’t worked, pushing them to explore nearby markets where their dollar stretches further. Communities like Tiverton, Warren, Bristol, North Kingstown, and South Kingstown have all seen increased interest as buyers look to stay close to the coast without paying top dollar or giving up lifestyle amenities like walkable downtowns, coffee shops, restaurants, and community events.
Bristol and Tiverton, in particular, are two markets to watch this year. Both are experiencing a surge of activity from millennial buyers who value coastal access and community but want a bit more breathing room in their budgets.
The reality, though, is that life on Aquidneck Island is unlikely to get cheaper anytime soon. From a broker’s perspective, the spring market is already off to a busy start. Buyers have reengaged quickly after the holidays, and sellers are doing the same. I’ve been contacted by a number of potential clients looking for guidance on preparing their homes for sale and understanding the fair market value of their assets. If you’re considering a move, now is the time to get ahead of the curve.
For those committed to keeping their lives on the island, there are still opportunities. I’ve put together a snapshot of 16 homes currently available for under $500,000 across Newport, Middletown, and Portsmouth.
For first-time homebuyers, it’s important to remember that your first home doesn’t need to be your forever home. It’s a starting point. Owning allows you to build equity rather than pay rent, and that equity can become the foundation for your next move. The first and most important step is understanding what you can comfortably afford on a monthly basis, which starts with a conversation with a local lender. If you’d like an introduction to a loan officer or one of my preferred partners, I’m always happy to connect you.
For those looking to downsize, opportunity exists here as well. If you’re carrying a home with no mortgage or a low balance, you may be surprised by how much equity you can leverage to simplify your lifestyle or fund your next chapter. Just last month, I helped a longtime Portsmouth family downsize after more than 40 years in the home they built in 1986. These transitions are meaningful life moments and deserve thoughtful planning and care.
Many of the options under $500,000 on Aquidneck Island are condominiums or manufactured/mobile homes. These can be excellent alternatives for buyers seeking lower-maintenance living or an alternative to renting. A great example is 529 Forest Park, a simple, low-maintenance one-bedroom unit fabricated in 2018. With all costs and utilities considered, ownership there can land around $1,500 per month, making it a compelling option for buyers on a fixed income or those looking to control monthly expenses. That unit is priced at $76,500. Dawn McCauley of REMAX Professionals of Newport also has a unit available at 521 Forest Park, currently listed for sale at $79,000. If you see one, you may as well see both!
Condominium buyers also have solid opportunities at Borden Farm, located at 2951 East Main Road in Portsmouth. Two one-bedroom units there are currently priced under $300,000 and offer a clean, straightforward ownership option for those looking to stay on the island without overextending.
There are even a handful of single-family options. One is 19 Flint Corn Road, a three-bedroom, one-bath ranch listed at $499,000 by Alisha Juzapavicus of Warner Realty Group. Located in a neighborhood off West Main Road, it offers true single-level living. Another is 35 Corys Court in Portsmouth, also priced at $499,000 and listed by Shelley Andrade of Century 21. Built in the 1980s, it’s a solid ranch option for buyers who want to remain in Portsmouth without sacrificing accessibility. 26 Chardon Drive in Portsmouth is another example of an affordable ranch option. Listed by Jessica Chase of Gustave White Sotheby’s, the home is positioned near the high school, this is an estate sale that offers the new stewards plenty of space (1646 square feet!) and opportunity for sweat equity with any immediate improvements.
My personal favorite on the list is 46 Chastellux Avenue, Unit M6, in Newport. Listed by Belinda Nattress of Keller Williams Coastal and priced at $499,000, this one-bedroom unit in Ocean Manor checks the location box in a big way. Set within a historic property near the yacht clubs, it’s just a short walk to King Park and an easy bike ride to Thames Street.
It’s also worth noting that off-market opportunities are always out there. Working with a professional who has a strong market presence can often mean learning about properties before they ever hit the MLS. That kind of early awareness can make a real difference, especially in a competitive market.
There’s never a bad day to start looking. You don’t know what you don’t know. Many of the friends and families I’ve worked with never thought buying on Aquidneck Island was possible. A recent example is the Coogan family, two longtime islanders who once believed homeownership here was out of reach. It wasn’t. To hear more about their story, check out my Instagram page. If your goal is to buy on Aquidneck Island for under $500,000, it’s closer than you might think. You just need to know where to look.
For more information on these listings, questions about the local market, or to schedule a consultation, feel free to reach out. I can be reached at 401-241-1851 or at TylerB@resultswithremax.com.