East Providence, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating East Providence Neighborhoods Since 2000




East Providence, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

East Providence Housing Market Information

With 47,408 people, 19,797 houses or apartments, and a median cost of homes of $228,414, 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 56.22% 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 ( 20.91%), large apartment complexes or high rise apartments ( 19.20%), and a few row houses and other attached homes ( 3.40%).

The most prevalent building size and type in East Providence are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.40% owning and 43.60% renting.

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 39.93% of the city's housing hails from this era. Other housing ages represented in East Providence include homes built before 1939 ( 30.62%) and housing constructed between 1970-1999 ( 26.47%). There's also some housing in East Providence built between 2000 and later ( 2.98%).

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 19.43% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows East Providence home appreciation rates at 0.64%, which equates to an annual appreciation rate of 2.59%.

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 8.26%, which is higher than appreciation rates in 87.96% 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 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Rhode Island, our data show that East Providence's latest annual appreciation rate is higher than 90% 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:
$228,414

East Providence, RI HOME PRICES

Value Range
> $1,142,000 0.2
$857,001 - $1,142,000 0.6
$571,001 - $857,000 1.2
$457,001 - $571,000 2.2
$343,001 - $457,000 8.2
$229,001 - $343,000 42.8
$114,001 - $229,000 39.9
$57,001 - $114,000 1.2
$0 - $57,000 3.6

Low for RI
High for Nation

Value Relative to Nation Value Relative to State
26.0810969178484 76.9230769230769

Number Of Homes And Apartments:
19,797

East Providence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
56.83% 2.64% 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,162 / per month

Homeownership Rate

Homeownership
Owners 56.40
Renters 43.60
Vacant 5.65

Housing Market Details

 

Age of Homes

AGE OF East Providence HOMES
2000 or Newer 3.0
1970 - 1999 26.5
1940 - 1969 39.9
1939 or Older 30.6

Types of Homes

TYPE OF East Providence HOMES
Single-Family 56.2
Townhomes 3.4
Small Apt. Buildings 20.9
Apt. Complexes 19.2
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF East Providence HOMES
No Bedroom 2.65
1 Bedroom 16.67
2 Bedrooms 29.46
3 Bedrooms 39.32
4 Bedrooms 10.06
5 or more bedrooms 1.83