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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 29,471, 11,597 total housing units (homes and apartments), and a median house value of $292,217, Johnston real estate values are some of the lowest in Rhode Island, although compared to real estate around the nation, Johnston homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Johnston, accounting for 62.86% of the town's housing units. Other types of housing that are prevalent in Johnston include large apartment complexes or high rise apartments ( 18.14%), duplexes, homes converted to apartments or other small apartment buildings ( 16.07%), and a few row houses and other attached homes ( 2.79%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Johnston. Owner-occupied housing accounts for 65.99% of Johnston's homes, and 53.12% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Johnston 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 Johnston built between 1940-1969 ( 32.93%). A lesser amount of the housing stock also hails from before 1939 ( 14.75%). There's also some housing in Johnston built between 2000 and later ( 8.29%).
Vacant housing appears to be an issue in Johnston. Fully 11.03% of the housing stock is classified as vacant. Left unchecked, vacant Johnston homes and apartments can be a drag on the real estate market, holding Johnston 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.
Appreciation rates for homes in Johnston have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 54.68%, which ranks in the top 40% nationwide. This equates to an annual average Johnston house appreciation rate of 4.46%.
Appreciation rates are so strong in Johnston that despite a nationwide downturn in the housing market, Johnston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Johnston appreciation rates continue to be some of the highest in America, at 12.90%, which is higher than appreciation rates in 88.65% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Johnston. Johnston appreciation rates in the latest quarter were at 4.10%, which equates to an annual appreciation rate of 17.45%.
Importantly, this makes Johnston one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Rhode Island, our data show that Johnston's latest annual appreciation rate is higher than 80% 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 town. Individual neighborhoods within Johnston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Johnston - 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 Johnston real estate investment or home purchase decisions.