East Greenwich, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

East Greenwich, RI Housing Market Trends

With 13,120 people, 5,079 houses or apartments, and a median cost of homes of $548,489, East Greenwich house prices are not only among the most expensive in Rhode Island, East Greenwich real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in East Greenwich, accounting for 69.62% of the town's housing units. Other types of housing that are prevalent in East Greenwich include large apartment complexes or high rise apartments ( 14.05%), duplexes, homes converted to apartments or other small apartment buildings ( 11.53%), and a few row houses and other attached homes ( 3.44%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Greenwich. Owner-occupied housing accounts for 76.75% of East Greenwich's homes, and 56.84% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in East Greenwich 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 East Greenwich built between 1940-1969 ( 27.12%). A lesser amount of the housing stock also hails from before 1939 ( 19.83%). There's also some housing in East Greenwich built between 2000 and later ( 13.29%).

East Greenwich Home Appreciation Rates

Real estate appreciation rates in East Greenwich's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.07% during the period.

Appreciation rates are so strong in East Greenwich that despite a nationwide downturn in the housing market, East Greenwich real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Greenwich appreciation rates continue to be some of the highest in America, at 6.37%, which is higher than appreciation rates in 71.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Greenwich. East Greenwich appreciation rates in the latest quarter were at 2.53%, which equates to an annual appreciation rate of 10.52%.

Relative to Rhode Island, our data show that East Greenwich's latest annual appreciation rate is lower than 80% of the other cities and towns in Rhode Island.

Average Home Values

 
info

Median Home Value:
$548,489

East Greenwich, RI HOME PRICES

> $1,187,000
1.8%
1.8%
$890,001 - $1,187,000
7.3%
7.3%
$593,001 - $890,000
27.7%
27.7%
$475,001 - $593,000
17.9%
17.9%
$356,001 - $475,000
26.2%
26.2%
$238,001 - $356,000
14.9%
14.9%
$119,001 - $238,000
2.5%
2.5%
$59,001 - $119,000
0.5%
0.5%
$0 - $59,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for RI

Value Relative To Nation

Number Of Homes And Apartments:
5,079

East Greenwich Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
76.11% 2.73%
6
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,297 / per month

Homeownership Rate

Owners
76.8%
76.8%
Renters
23.2%
23.2%
Vacant
7.7%
7.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
13.3%
13.3%
1970 - 1999
39.8%
39.8%
1940 - 1969
27.1%
27.1%
1939 or Older
19.8%
19.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
69.6%
69.6%
Townhomes
3.4%
3.4%
Small Apt. Buildings
11.5%
11.5%
Apt. Complexes
14.1%
14.1%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
4.0%
4.0%
1 Bedroom
13.2%
13.2%
2 Bedrooms
18.9%
18.9%
3 Bedrooms
27.9%
27.9%
4 Bedrooms
28.9%
28.9%
5 or more bedrooms
7.1%
7.1%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in East Greenwich

Zip Codes in East Greenwich, RI