Middletown, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Middletown, 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

Middletown Housing Market Information

With 16,051 people, 6,419 houses or apartments, and a median cost of homes of $396,146, real estate costs in Middletown 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 Middletown, accounting for 60.15% of the town's housing units. Other types of housing that are prevalent in Middletown include duplexes, homes converted to apartments or other small apartment buildings ( 17.38%), large apartment complexes or high rise apartments ( 13.03%), and a few row houses and other attached homes ( 5.97%).

The most prevalent building size and type in Middletown are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 52.04% owning and 47.96% renting.

There is a lot of housing in Middletown 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 Middletown built between 1940-1969 ( 39.10%). A lesser amount of the housing stock also hails from before 1939 ( 15.13%). There's also some housing in Middletown built between 2000 and later ( 5.93%).

Vacant housing appears to be an issue in Middletown. Fully 12.84% of the housing stock is classified as vacant. Left unchecked, vacant Middletown homes and apartments can be a drag on the real estate market, holding Middletown 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.

Middletown Home Appreciation Rates

Middletown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Middletown during the period has been just -1.03%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Middletown's appreciation rate, at 4.19%, has been at or slightly above the national average. In the latest quarter, Middletown's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.

Relative to Rhode Island, our data show that Middletown's latest annual appreciation rate is lower 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 town. Individual neighborhoods within Middletown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Middletown - 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 Middletown real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$396,146

Middletown, RI HOME PRICES

Value Range
> $1,124,000 3.2
$843,001 - $1,124,000 1.8
$561,001 - $843,000 13.2
$450,001 - $561,000 13.0
$337,001 - $450,000 23.2
$225,001 - $337,000 34.7
$112,001 - $225,000 5.9
$56,001 - $112,000 1.1
$0 - $56,000 3.9

High for RI
Very High for Nation

Value Relative to Nation Value Relative to State
9.63904840032814 23.0769230769231

Number Of Homes And Apartments:
6,419

Middletown 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
74.25% 3.27% 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,535 / per month

Homeownership Rate

Homeownership
Owners 52.04
Renters 47.96
Vacant 12.84

Housing Market Details

 

Age of Homes

AGE OF Middletown HOMES
2000 or Newer 5.9
1970 - 1999 39.8
1940 - 1969 39.1
1939 or Older 15.1

Types of Homes

TYPE OF Middletown HOMES
Single-Family 60.1
Townhomes 6.0
Small Apt. Buildings 17.4
Apt. Complexes 13.0
Mobile Homes 3.3
Other 0.1

Home Size

SIZE OF Middletown HOMES
No Bedroom 1.86
1 Bedroom 10.29
2 Bedrooms 30.88
3 Bedrooms 35.48
4 Bedrooms 17.72
5 or more bedrooms 3.77