Cumberland RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

Highest
Lowest




Cumberland, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Cumberland Housing Market Information

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%).

Cumberland Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$302,718

Cumberland, RI HOME PRICES

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

Low for RI
Very High for Nation

Value Relative to Nation Value Relative to State
19.3518248175182 66.6666666666667

Number Of Homes And Apartments:
13,541

Cumberland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
65.07% 2.60%
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,372 / per month

Homeownership Rate

Homeownership
Owners 73.05
Renters 26.95
Vacant 5.67

Housing Market Details

 

Age of Homes

AGE OF Cumberland HOMES
2000 or Newer 9.6
1970 - 1999 36.1
1940 - 1969 36.5
1939 or Older 17.9

Types of Homes

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

Home Size

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