menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 a population of 36,382, 14,173 total housing units (homes and apartments), and a median house value of $453,171, 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 68.36% of the town's housing units. Other types of housing that are prevalent in Cumberland include large apartment complexes or high rise apartments ( 13.41%), duplexes, homes converted to apartments or other small apartment buildings ( 13.25%), and a few row houses and other attached homes ( 4.69%).

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 76.52% of Cumberland's homes, and 58.67% 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 37.12% of the town's housing hails from this era. Other housing ages represented in Cumberland include homes built between 1970-1999 ( 36.56%) and housing constructed before 1939 ( 13.18%). There's also some housing in Cumberland built between 2000 and later ( 13.14%).

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 91.17%, which ranks in the top 40% nationwide. This equates to an annual average Cumberland house appreciation rate of 6.69%.

Appreciation rates are so strong in Cumberland that despite a nationwide downturn in the housing market, Cumberland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cumberland appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.75% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cumberland. Cumberland appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.59%.

Relative to Rhode Island, our data show that Cumberland's latest annual appreciation rate is higher 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

$453,171

Cumberland, RI Home Prices
> $1,329,000
$997,001 - $1,329,000
$664,001 - $997,000
$532,001 - $664,000
$399,001 - $532,000
$266,001 - $399,000
$133,001 - $266,000
$66,001 - $133,000
$0 - $66,000
0.8%
0.8%
1.9%
1.9%
17.6%
17.6%
19.6%
19.6%
32.8%
32.8%
20.5%
20.5%
5.9%
5.9%
0.3%
0.3%
0.5%
0.5%
0% 100.0%
% of Homes
Low

for Rhode island

Very High

for nation

Number of Homes And Apartments:

14,173

Cumberland Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,366 / per month

Homeownership Rate

Owners
Renters
76.5%
76.5%
23.5%
23.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.4%
3.4%
96.6%
96.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.1%
13.1%
36.6%
36.6%
37.1%
37.1%
13.2%
13.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
68.4%
68.4%
4.7%
4.7%
13.3%
13.3%
13.4%
13.4%
0.3%
0.3%
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
2.4%
2.4%
9.1%
9.1%
26.4%
26.4%
42.1%
42.1%
16.6%
16.6%
3.4%
3.4%
0% 100.0%
% of Homes