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 Q3 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 about Scout's Real Estate Data

Cumberland Housing Market Information

With a population of 35,263, 13,510 total housing units (homes and apartments), and a median house value of $303,239, 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 2.20% during the period.

NeighborhoodScout's data show that during the latest twelve months, Cumberland's appreciation rate, at 3.93%, has been at or slightly above the national average. In the latest quarter, Cumberland's appreciation rate has been 1.48%, which annualizes to a rate of 6.04%.

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

 
info

Median Home Value:
$303,239

Cumberland, RI HOME PRICES

> $1,197,000
0.3%
0.3%
$898,001 - $1,197,000
0.4%
0.4%
$599,001 - $898,000
4.0%
4.0%
$479,001 - $599,000
9.9%
9.9%
$359,001 - $479,000
22.4%
22.4%
$240,001 - $359,000
38.2%
38.2%
$120,001 - $240,000
22.5%
22.5%
$60,001 - $120,000
0.4%
0.4%
$0 - $60,000
2.0%
2.0%
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:
13,510

Cumberland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
72.58% 2.66%
6
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,345 / per month

Homeownership Rate

Owners
74.0%
74.0%
Renters
26.0%
26.0%
Vacant
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
10.0%
10.0%
1970 - 1999
38.0%
38.0%
1940 - 1969
35.9%
35.9%
1939 or Older
16.1%
16.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.4%
66.4%
Townhomes
3.7%
3.7%
Small Apt. Buildings
15.0%
15.0%
Apt. Complexes
14.7%
14.7%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
8.4%
8.4%
2 Bedrooms
25.9%
25.9%
3 Bedrooms
42.5%
42.5%
4 Bedrooms
18.4%
18.4%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES