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 21,987 people, 8,066 houses or apartments, and a median cost of homes of $395,381, real estate costs in Lincoln are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Rhode Island communities.
Single-family detached homes are the single most common housing type in Lincoln, accounting for 59.65% of the town's housing units. Other types of housing that are prevalent in Lincoln include duplexes, homes converted to apartments or other small apartment buildings ( 19.50%), large apartment complexes or high rise apartments ( 18.66%), and a few row houses and other attached homes ( 2.03%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lincoln. Owner-occupied housing accounts for 68.12% of Lincoln's homes, and 55.81% have either three or four bedrooms, which is average sized relative to America.
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. Lincoln's housing was primarily built during this period, from the '40s through the '60s. A full 37.19% of the town's housing hails from this era. Other housing ages represented in Lincoln include homes built between 1970-1999 ( 35.64%) and housing constructed before 1939 ( 21.55%). There's also some housing in Lincoln built between 2000 and later ( 5.62%).
Real estate appreciation rates in Lincoln's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.52% during the period.
Appreciation rates are so strong in Lincoln that despite a nationwide downturn in the housing market, Lincoln real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Lincoln appreciation rates continue to be some of the highest in America, at 6.37%, which is higher than appreciation rates in 71.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Lincoln. Lincoln appreciation rates in the latest quarter were at 2.53%, which equates to an annual appreciation rate of 10.50%.
Relative to Rhode Island, our data show that Lincoln's latest annual appreciation rate is lower than 90% of the other cities and towns in Rhode Island.