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
With 16,081 people, 6,832 houses or apartments, and a median cost of homes of $454,323, 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 60.82% 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 ( 14.22%), large apartment complexes or high rise apartments ( 14.08%), and a few row houses and other attached homes ( 6.33%).
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 51.34% owning and 48.66% 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. Middletown's housing was primarily built during this period, from the '40s through the '60s. A full 42.27% of the town's housing hails from this era. Other housing ages represented in Middletown include homes built between 1970-1999 ( 39.36%) and housing constructed before 1939 ( 11.46%). There's also some housing in Middletown built between 2000 and later ( 6.91%).
Vacant housing appears to be an issue in Middletown. Fully 12.39% 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.
Appreciation rates for homes in Middletown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 18.38%, which ranks in the top 50% nationwide. This equates to an annual average Middletown house appreciation rate of 1.70%.
NeighborhoodScout's data show that during the latest twelve months, Middletown's appreciation rate, at 3.34%, has been at or slightly above the national average. In the latest quarter, Middletown's appreciation rate has been 0.86%, which annualizes to a rate of 3.50%.
Relative to Rhode Island, our data show that Middletown's latest annual appreciation rate is higher 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.
|$908,001 - $1,211,000||2.3|
|$605,001 - $908,000||16.9|
|$484,001 - $605,000||13.7|
|$363,001 - $484,000||29.2|
|$242,001 - $363,000||28.4|
|$121,001 - $242,000||2.4|
|$61,001 - $121,000||1.1|
|$0 - $61,000||3.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
2000 Q1 - 2019 Q2
|* 10 is highest|
|AGE OF Middletown HOMES|
|2000 or Newer||6.9|
|1970 - 1999||39.4|
|1940 - 1969||42.3|
|1939 or Older||11.5|
|TYPE OF Middletown HOMES|
|Small Apt. Buildings||14.2|
|SIZE OF Middletown HOMES|
|5 or more bedrooms||4.30|