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Cumberland, RI Real Estate Market

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 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Cumberland, RI Housing Market Trends

With 36,405 people, 13,247 houses or apartments, and a median cost of homes of $375,607, 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 68.40% of the town's housing units. Other types of housing that are prevalent in Cumberland include duplexes, homes converted to apartments or other small apartment buildings ( 13.96%), large apartment complexes or high rise apartments ( 13.13%), and a few row houses and other attached homes ( 4.20%).

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 76.64% of Cumberland's homes, and 60.55% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cumberland 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 Cumberland built between 1940-1969 ( 37.69%). A lesser amount of the housing stock also hails from before 1939 ( 12.60%). There's also some housing in Cumberland built between 2000 and later ( 11.75%).

Cumberland Home Appreciation Rates

Appreciation rates for homes in Cumberland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 70.17%, which ranks in the top 50% nationwide. This equates to an annual average Cumberland house appreciation rate of 5.46%.

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 12.43%, 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 1.94%, which equates to an annual appreciation rate of 7.97%.

Relative to Rhode Island, our data show that Cumberland's latest annual appreciation rate is higher than 60% 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:
$375,607

Cumberland, RI HOME PRICES

> $1,350,000
$1,012,001 - $1,350,000
$675,001 - $1,012,000
$540,001 - $675,000
$405,001 - $540,000
$270,001 - $405,000
$135,001 - $270,000
$67,001 - $135,000
$0 - $67,000
0.8%
0.8%
1.1%
1.1%
6.0%
6.0%
13.8%
13.8%
28.5%
28.5%
36.9%
36.9%
10.7%
10.7%
1.5%
1.5%
0.7%
0.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for RI

Value Relative To Nation

Number Of Homes And Apartments:
13,247

Cumberland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
117.63% 3.52%
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,848 / per month

Homeownership Rate

Owners
Renters
Vacant
76.6%
76.6%
23.4%
23.4%
5.4%
5.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.8%
11.8%
38.0%
38.0%
37.7%
37.7%
12.6%
12.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.4%
68.4%
4.2%
4.2%
14.0%
14.0%
13.1%
13.1%
0.3%
0.3%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
9.0%
9.0%
25.3%
25.3%
41.5%
41.5%
19.0%
19.0%
2.4%
2.4%
0.0% 100.0%
% OF HOMES