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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hopkinton, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Hopkinton, RI Housing Market Trends

With a population of 8,415, 3,159 total housing units (homes and apartments), and a median house value of $398,451, Hopkinton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hopkinton, accounting for 82.53% of the town's housing units. Other types of housing that are prevalent in Hopkinton include duplexes, homes converted to apartments or other small apartment buildings ( 9.09%), large apartment complexes or high rise apartments ( 6.51%), and a few row houses and other attached homes ( 1.33%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hopkinton. Owner-occupied housing accounts for 77.15% of Hopkinton's homes, and 61.35% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hopkinton 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 Hopkinton built between 1940-1969 ( 23.38%). A lesser amount of the housing stock also hails from before 1939 ( 22.92%). There's also some housing in Hopkinton built between 2000 and later ( 16.57%).

Vacant housing appears to be an issue in Hopkinton. Fully 14.32% of the housing stock is classified as vacant. Left unchecked, vacant Hopkinton homes and apartments can be a drag on the real estate market, holding Hopkinton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hopkinton Home Appreciation Rates

Appreciation rates for homes in Hopkinton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.24%, which ranks in the top 50% nationwide. This equates to an annual average Hopkinton house appreciation rate of 6.24%.

Appreciation rates are so strong in Hopkinton that despite a nationwide downturn in the housing market, Hopkinton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hopkinton appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.59% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hopkinton. Hopkinton appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.59%.

Relative to Rhode Island, our data show that Hopkinton's latest annual appreciation rate is lower than 90% of the other cities and towns in Rhode Island.

Average Home Values

Median Home Value

$398,451

Hopkinton, RI Home Prices
> $1,271,000
$953,001 - $1,271,000
$635,001 - $953,000
$508,001 - $635,000
$381,001 - $508,000
$254,001 - $381,000
$127,001 - $254,000
$64,001 - $127,000
$0 - $64,000
0.8%
0.8%
0.6%
0.6%
9.0%
9.0%
21.7%
21.7%
32.7%
32.7%
28.0%
28.0%
6.6%
6.6%
0.0%
0.0%
0.5%
0.5%
0% 100.0%
% of Homes
Low

for Rhode island

High

for nation

Number of Homes And Apartments:

3,159

Hopkinton Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,578 / per month

Homeownership Rate

Owners
Renters
77.1%
77.1%
22.9%
22.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.3%
14.3%
85.7%
85.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.6%
16.6%
37.1%
37.1%
23.4%
23.4%
22.9%
22.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.5%
82.5%
1.3%
1.3%
9.1%
9.1%
6.5%
6.5%
0.5%
0.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.5%
1.5%
7.2%
7.2%
27.4%
27.4%
50.9%
50.9%
10.5%
10.5%
2.6%
2.6%
0% 100.0%
% of Homes