Cumberland RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Cumberland Housing Market Information

With a population of 34,977, 13,510 total housing units (homes and apartments), and a median house value of $298,165, 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 66.44% 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 ( 15.05%), large apartment complexes or high rise apartments ( 14.71%), and a few row houses and other attached homes ( 3.66%).

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 73.99% of Cumberland's homes, and 60.85% 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 ( 35.92%). A lesser amount of the housing stock also hails from before 1939 ( 16.05%). There's also some housing in Cumberland built between 2000 and later ( 9.99%).

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 2.02% 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 3.83%, 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 1.59%, which equates to an annual appreciation rate of 6.51%.

Relative to Rhode Island, our data show that Cumberland's latest annual appreciation rate is lower than 80% 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:
$298,165

Cumberland, RI HOME PRICES

Value Range
> $1,177,000 0.3
$883,001 - $1,177,000 0.4
$589,001 - $883,000 4.0
$471,001 - $589,000 9.9
$353,001 - $471,000 22.4
$236,001 - $353,000 38.2
$118,001 - $236,000 22.5
$59,001 - $118,000 0.4
$0 - $59,000 2.0

Low for RI
High for Nation

Value Relative to Nation Value Relative to State
21.3722627737226 69.2307692307692

Number Of Homes And Apartments:
13,510

Cumberland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
69.70% 2.65%
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,301 / per month

Homeownership Rate

Homeownership
Owners 73.99
Renters 26.01
Vacant 5.71

Housing Market Details

 

Age of Homes

AGE OF Cumberland HOMES
2000 or Newer 10.0
1970 - 1999 38.0
1940 - 1969 35.9
1939 or Older 16.1

Types of Homes

TYPE OF Cumberland HOMES
Single-Family 66.4
Townhomes 3.7
Small Apt. Buildings 15.0
Apt. Complexes 14.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Cumberland HOMES
No Bedroom 2.97
1 Bedroom 8.40
2 Bedrooms 25.88
3 Bedrooms 42.48
4 Bedrooms 18.37
5 or more bedrooms 1.91