Central Falls, RI


Highest Appreciating Central Falls Neighborhoods Since 2000

Central Falls, 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

Central Falls Housing Market Information

With 19,303 people, 6,413 houses or apartments, and a median cost of homes of $172,078, Central Falls real estate values are some of the lowest in Rhode Island, although compared to real estate around the nation, Central Falls homes are still considered rather expensive.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Central Falls, accounting for 65.69% of the city's housing units. Other types of housing that are prevalent in Central Falls include large apartment complexes or high rise apartments ( 22.73%), single-family detached homes ( 10.51%), and a few row houses and other attached homes ( 1.06%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

Central Falls is dominated by renter-occupied one, two, or no bedrooms apartments. 75.66% of Central Falls's dwellings are rentals.

The housing in Central Falls was primarily built before 1939 ( 68.31%), making the housing stock in Central Falls some of the oldest overall in America, although there is a range of ages of homes in Central Falls. The next most important housing age is between 1940-1969 ( 15.87%), followed by between 1970-1999 ( 11.66%). There's also some housing in Central Falls built between 2000 and later ( 4.16%).

Vacant housing appears to be an issue in Central Falls. Fully 15.77% of the housing stock is classified as vacant. Left unchecked, vacant Central Falls homes and apartments can be a drag on the real estate market, holding Central Falls real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Central Falls Home Appreciation Rates

Homes have actually lost value in Central Falls over the last then years, as home values have seen a decline of 19.68% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Central Falls home appreciation rates at 0.64%, which equates to an annual appreciation rate of 2.59%.

NeighborhoodScout's data show that during the latest twelve months, Central Falls's appreciation rate, at 4.70%, has been at or slightly above the national average. In the latest quarter, Central Falls's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.

Relative to Rhode Island, our data show that Central Falls's latest annual appreciation rate is lower than 60% of the other cities and towns in Rhode Island.

Average Home Values


Median Home Value:

Central Falls, RI HOME PRICES

Value Range
> $1,112,000 0.8
$834,001 - $1,112,000 0.0
$556,001 - $834,000 0.0
$445,001 - $556,000 1.1
$334,001 - $445,000 1.8
$222,001 - $334,000 20.2
$111,001 - $222,000 54.0
$56,001 - $111,000 18.2
$0 - $56,000 3.9

Very Low for RI
Average for Nation

Value Relative to Nation Value Relative to State
40.8590179303879 100.0

Number Of Homes And Apartments:

Central Falls Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
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
63.94% 2.91% 8
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,093 / per month

Homeownership Rate

Owners 24.34
Renters 75.66
Vacant 15.77

Housing Market Details


Age of Homes

AGE OF Central Falls HOMES
2000 or Newer 4.2
1970 - 1999 11.7
1940 - 1969 15.9
1939 or Older 68.3

Types of Homes

TYPE OF Central Falls HOMES
Single-Family 10.5
Townhomes 1.1
Small Apt. Buildings 65.7
Apt. Complexes 22.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Central Falls HOMES
No Bedroom 3.26
1 Bedroom 18.94
2 Bedrooms 30.25
3 Bedrooms 42.20
4 Bedrooms 3.55
5 or more bedrooms 1.81