Why Nutmeggers are investing in Rhode Island real estate

June 21, 2026 - 22:28

NEW HAVEN, Conn. -- A growing number of Connecticut residents, often called Nutmeggers, are looking east for their next home purchase. The target is Rhode Island, where real estate activity from out-of-state buyers has picked up noticeably in recent months.

Industry insiders point to several factors driving the trend. Home prices in Connecticut, particularly in Fairfield County and the shoreline areas, have climbed steadily. Buyers seeking more space or waterfront access find that their money goes further in Rhode Island. The Ocean State offers a mix of coastal towns and rural properties that appeal to those looking for a lifestyle change without moving too far from family or jobs.

Another factor is remote work. Many professionals no longer need to commute daily to offices in New York or Hartford. This flexibility allows them to settle in places like Newport, Warwick, or even smaller communities along Narragansett Bay. The commute back to Connecticut for occasional meetings is manageable.

Dennis House spoke with Devin Sheehan, an agent affiliated with celebrity realtor Ryan Serhant, about the shift. Sheehan noted that buyers are often surprised by the value they find. A home that might cost seven figures in a popular Connecticut town could be significantly less expensive in Rhode Island, even with similar proximity to the water.

The trend shows no signs of slowing. Real estate agents in both states report steady interest from Connecticut buyers attending open houses and making offers. For many, the decision comes down to simple math and a desire for a different pace of life just a short drive away.