East Providence, 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 Providence, RI Housing Market Trends

With a population of 47,618, 19,902 total housing units (homes and apartments), and a median house value of $270,379, East Providence real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in East Providence, accounting for 57.02% of the city's housing units. Other types of housing that are prevalent in East Providence include large apartment complexes or high rise apartments ( 21.83%), duplexes, homes converted to apartments or other small apartment buildings ( 18.49%), and a few row houses and other attached homes ( 2.49%).

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 41.43% of the city's housing hails from this era. Other housing ages represented in East Providence include homes built before 1939 ( 29.83%) and housing constructed between 1970-1999 ( 25.21%). There's also some housing in East Providence built between 2000 and later ( 3.53%).

East Providence Home Appreciation Rates

Real estate appreciation rates in East Providence's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.68% during the period.

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 6.41%, which is higher than appreciation rates in 71.88% 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 2.57%, which equates to an annual appreciation rate of 10.68%.

Relative to Rhode Island, our data show that East Providence's latest annual appreciation rate is higher than 70% 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

 
info

Median Home Value:
$270,379

East Providence, RI HOME PRICES

> $1,212,000
0.6%
0.6%
$909,001 - $1,212,000
0.4%
0.4%
$606,001 - $909,000
0.5%
0.5%
$485,001 - $606,000
2.6%
2.6%
$364,001 - $485,000
9.7%
9.7%
$242,001 - $364,000
49.7%
49.7%
$121,001 - $242,000
33.6%
33.6%
$61,001 - $121,000
0.8%
0.8%
$0 - $61,000
2.1%
2.1%
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:
19,902

East Providence 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
95.81% 3.25%
8
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,495 / per month

Homeownership Rate

Owners
60.0%
60.0%
Renters
40.0%
40.0%
Vacant
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
3.5%
3.5%
1970 - 1999
25.2%
25.2%
1940 - 1969
41.4%
41.4%
1939 or Older
29.8%
29.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
57.0%
57.0%
Townhomes
2.5%
2.5%
Small Apt. Buildings
18.5%
18.5%
Apt. Complexes
21.8%
21.8%
Mobile Homes
0.2%
0.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
18.3%
18.3%
2 Bedrooms
28.5%
28.5%
3 Bedrooms
39.3%
39.3%
4 Bedrooms
9.3%
9.3%
5 or more bedrooms
1.6%
1.6%
0.0% 100.0%
% OF HOMES