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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 34,927 people, 13,541 houses or apartments, and a median cost of homes of $302,718, Cumberland real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Cumberland, accounting for 65.95% of the town's housing units. Other types of housing that are prevalent in Cumberland include large apartment complexes or high rise apartments ( 15.07%), duplexes, homes converted to apartments or other small apartment buildings ( 14.78%), 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 Cumberland. Owner-occupied housing accounts for 73.05% of Cumberland's homes, and 61.63% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cumberland's housing was primarily built during this period, from the '40s through the '60s. A full 36.46% of the town's housing hails from this era. Other housing ages represented in Cumberland include homes built between 1970-1999 ( 36.08%) and housing constructed before 1939 ( 17.86%). There's also some housing in Cumberland built between 2000 and later ( 9.59%).
Real estate appreciation rates in Cumberland's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.30% during the period.
Over the last year, Cumberland appreciation rates have trailed the rest of the nation. In the last twelve months, Cumberland's appreciation rate has been 2.42%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cumberland were at 0.86%, which equates to an annual appreciation rate of 3.50%.
Relative to Rhode Island, our data show that Cumberland's latest annual appreciation rate is lower than 50% of the other cities and towns in Rhode Island.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Cumberland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cumberland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Cumberland real estate investment or home purchase decisions.
Value Range | |
---|---|
> $1,206,000 | 0.1 |
$905,001 - $1,206,000 | 0.4 |
$603,001 - $905,000 | 3.6 |
$482,001 - $603,000 | 8.3 |
$362,001 - $482,000 | 21.6 |
$241,001 - $362,000 | 40.1 |
$121,001 - $241,000 | 22.8 |
$60,001 - $121,000 | 1.2 |
$0 - $60,000 | 2.0 |
Value Relative to Nation | Value Relative to State |
---|---|
19.3518248175182 | 66.6666666666667 |
Time Period | Total Appreciation | Avg. Annual Rate |
Compared To
America* |
---|---|---|---|
Latest Quarter:
2019 Q1 - 2019 Q2 |
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Last 12 Months:
2018 Q2 - 2019 Q2 |
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Last 2 Years:
2017 Q2 - 2019 Q2 |
|||
Last 5 Years:
2014 Q2 - 2019 Q2 |
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Last 10 Years:
2009 Q2 - 2019 Q2 |
|||
Since 2000:
2000 Q1 - 2019 Q2 |
65.07% | 2.60% |
6
|
* 10 is highest |
Homeownership | |
---|---|
Owners | 73.05 |
Renters | 26.95 |
Vacant | 5.67 |
AGE OF Cumberland HOMES | |
---|---|
2000 or Newer | 9.6 |
1970 - 1999 | 36.1 |
1940 - 1969 | 36.5 |
1939 or Older | 17.9 |
TYPE OF Cumberland HOMES | |
---|---|
Single-Family | 65.9 |
Townhomes | 4.0 |
Small Apt. Buildings | 14.8 |
Apt. Complexes | 15.1 |
Mobile Homes | 0.2 |
Other | 0.0 |
SIZE OF Cumberland HOMES | |
---|---|
No Bedroom | 2.47 |
1 Bedroom | 8.87 |
2 Bedrooms | 25.32 |
3 Bedrooms | 42.99 |
4 Bedrooms | 18.64 |
5 or more bedrooms | 1.71 |