East Providence, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating East Providence Neighborhoods Since 2000




East Providence, RI Real Estate Data


East Providence Housing Market Information

With a population of 47,408, 19,896 total housing units (homes and apartments), and a median house value of $236,741, East Providence real estate values are some of the lowest in Rhode Island, although compared to real estate around the nation, East Providence homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in East Providence, accounting for 54.34% of the city's housing units. Other types of housing that are prevalent in East Providence include duplexes, homes converted to apartments or other small apartment buildings ( 22.23%), large apartment complexes or high rise apartments ( 20.08%), and a few row houses and other attached homes ( 3.07%).

People in East Providence primarily live in small (one, two or no bedroom) single-family detached homes. East Providence has a mixture of owner-occupied and renter-occupied housing.

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. East Providence's housing was primarily built during this period, from the '40s through the '60s. A full 39.64% of the city's housing hails from this era. Other housing ages represented in East Providence include homes built before 1939 ( 31.56%) and housing constructed between 1970-1999 ( 25.66%). There's also some housing in East Providence built between 2000 and later ( 3.14%).

East Providence Home Appreciation Rates

Homes have actually lost value in East Providence over the last then years, as home values have seen a decline of 22.68% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Providence home appreciation rates at 2.07%, which equates to an annual appreciation rate of 8.54%.

Appreciation rates are so strong in East Providence that despite a nationwide downturn in the housing market, East Providence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Providence appreciation rates continue to be some of the highest in America, at 6.19%, which is higher than appreciation rates in 76.71% 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 Providence. East Providence appreciation rates in the latest quarter were at 2.07%, which equates to an annual appreciation rate of 8.54%.

Relative to Rhode Island, our data show that East Providence'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 city. Individual neighborhoods within East Providence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Providence - 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 East Providence real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$236,741

East Providence, RI HOME PRICES

Value Range
> $1,099,000 0.2
$824,001 - $1,099,000 0.4
$550,001 - $824,000 1.0
$440,001 - $550,000 2.1
$330,001 - $440,000 9.3
$220,001 - $330,000 45.0
$110,001 - $220,000 36.8
$55,001 - $110,000 1.1
$0 - $55,000 4.1

Very Low for RI
High for Nation

Value Relative to Nation Value Relative to State
25.250336710195 87.1794871794872

Number Of Homes And Apartments:
19,896

Rent & Ownership

 

Average Market Rent:
$1,097 / per month

Homeownership Rate

Homeownership
Owners 54.62
Renters 45.38
Vacant 5.73

Housing Market Details

 

Age of Homes

AGE OF East Providence HOMES
2000 or Newer 3.1
1970 - 1999 25.7
1940 - 1969 39.6
1939 or Older 31.6

Types of Homes

TYPE OF East Providence HOMES
Single-Family 54.3
Townhomes 3.1
Small Apt. Buildings 22.2
Apt. Complexes 20.1
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF East Providence HOMES
No Bedroom 2.89
1 Bedroom 17.58
2 Bedrooms 29.89
3 Bedrooms 38.22
4 Bedrooms 9.34
5 or more bedrooms 2.08

East Providence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
51.79% 2.49% 6
* 10 is highest