Burrillville, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burrillville, RI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Burrillville Housing Market Information

With 16,303 people, 6,137 houses or apartments, and a median cost of homes of $271,612, Burrillville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Burrillville, accounting for 62.97% of the town's housing units. Other types of housing that are prevalent in Burrillville include duplexes, homes converted to apartments or other small apartment buildings ( 20.65%), large apartment complexes or high rise apartments ( 9.85%), and a few row houses and other attached homes ( 4.05%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Burrillville. Owner-occupied housing accounts for 70.05% of Burrillville's homes, and 56.49% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Burrillville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Burrillville built before 1939 ( 32.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.23%). There's also some housing in Burrillville built between 2000 and later ( 8.76%).

Burrillville Home Appreciation Rates

Burrillville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burrillville during the period has been just -1.71%, which is lower than 80% of US communities.

Appreciation rates are so strong in Burrillville that despite a nationwide downturn in the housing market, Burrillville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burrillville appreciation rates continue to be some of the highest in America, at 8.73%, which is higher than appreciation rates in 89.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burrillville. Burrillville appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Rhode Island, our data show that Burrillville's latest annual appreciation rate is higher than 90% of the other cities and towns in Rhode Island.

Average Home Values

 

Median Home Value:
$271,612

Burrillville, RI HOME PRICES

Value Range
> $1,159,000 0.3
$869,001 - $1,159,000 0.3
$579,001 - $869,000 3.3
$463,001 - $579,000 4.9
$348,001 - $463,000 14.2
$232,001 - $348,000 36.0
$116,001 - $232,000 33.6
$58,001 - $116,000 2.5
$0 - $58,000 5.0

Low for RI
Very High for Nation

Value Relative to Nation Value Relative to State
19.5417789757412 71.7948717948718

Number Of Homes And Apartments:
6,137

Burrillville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
55.46% 2.59% 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,120 / per month

Homeownership Rate

Homeownership
Owners 70.05
Renters 29.95
Vacant 7.31

Housing Market Details

 

Age of Homes

AGE OF Burrillville HOMES
2000 or Newer 8.8
1970 - 1999 34.1
1940 - 1969 24.2
1939 or Older 32.9

Types of Homes

TYPE OF Burrillville HOMES
Single-Family 63.0
Townhomes 4.0
Small Apt. Buildings 20.6
Apt. Complexes 9.8
Mobile Homes 2.5
Other 0.0

Home Size

SIZE OF Burrillville HOMES
No Bedroom 0.36
1 Bedroom 12.31
2 Bedrooms 27.28
3 Bedrooms 42.09
4 Bedrooms 14.39
5 or more bedrooms 3.56

Popular Neighborhoods in Burrillville

Zip Codes in Burrillville, RI