WARWICK, R.I. – July 22, 2025 – Today, the Rhode Island Association of Realtors reported a year-over-year increase in June’s median home sales price. At $520,000, the median price of single-family homes represented a 5.3% gain from 12 months earlier and a 73.6% gain since 2019, the last year unaffected by pandemic migration.
Moving forward, property owners should take note of new taxes introduced in the recently passed RI FY 2026 budget that impact residential real estate. Whether homeowners are offering short-term vacation rentals, selling their home, or own a non-owner-occupied second property valued over $1 million, new or increased taxes will become a part of their ongoing expenses.
The Rhode Island Association of REALTORS helped to defeat “just cause” legislation that would have abolished a landlord’s existing right to terminate any of the following for any reason: a month-to-month tenancy; a tenancy after a lease expires; or an unwritten rental agreement.
If this legislation had passed, it would have prevented landlords from evicting tenants unless the landlord could document that the eviction was for an acceptable purpose as defined in the legislation...
The Rhode Island Association of REALTORS® helped to defeat several bills that would have imposed rent control on residential rental properties. Rent control has been a failure in Massachusetts and other parts of the country because it discourages production of new rental housing and makes it difficult for landlords to afford repairs and improvements. Since rent control is not needs tested, it benefits high income earners as well as low income earners.
As of June 27, 2025, a new law, Chapters 257 and 265, affects towns, cities, private organizations, and private property owners who wish to reduce or eliminate parking near a Coastal Resources Management Council (CRMC) designated public right of water to the shoreline. These entities must file a plan that will be reviewed by CRMC and the Rhode Island Department of Environment Management (DEM).
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Do you or your clients work from home? Starting on June 29,2025, a new Rhode Island law clarifies what type of remote work from home arrangements are allowed without municipal approval as an accessory use.
A new law S0549aa.pdf requires operators of hotels or short-term rentals of 30 days or less:
▪to complete human trafficking prevention training that is approved and/or offered by the RI Department of Business Regulation.
▪Training must be completed within 180 days of employment or the first listing of a short-term rental property on a hosting platform and by the end of every calendar year after that. This includes all third-party hosting sites, like real estate brokerage’s websites, Airbnb, VRBO, etc.
As of July 2, 2025, a new law prohibits landlords and their rental agents, property managers or other representatives, from asking potential or existing tenants and occupants about their immigration or citizenship status.
A new Rhode Island law to establish a land bank took place upon passage on June 27, 2025. The law, House Bill No. 5955 SUB A (Chapter 275), requires Rhode Island Housing to create a public land bank to purchase land or receive it as a donation to create affordable housing.