North Kingstown, RI Housing Market Trends
With 27,771 people, 11,338 houses or apartments, and a median cost of homes of $744,511, real estate costs in North Kingstown 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 North Kingstown, accounting for 67.55% of the town's housing units. Other types of housing that are prevalent in North Kingstown include duplexes, homes converted to apartments or other small apartment buildings ( 12.10%), large apartment complexes or high rise apartments ( 10.37%), and a few row houses and other attached homes ( 6.99%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in North Kingstown. Owner-occupied housing accounts for 72.90% of North Kingstown's homes, and 57.75% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in North Kingstown 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 North Kingstown built between 1940-1969 ( 34.87%). A lesser amount of the housing stock also hails from before 1939 ( 14.81%). There's also some housing in North Kingstown built between 2000 and later ( 12.32%).
North Kingstown Home Appreciation Rates
Appreciation rates for homes in North Kingstown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 109.82%, which ranks in the top 30% nationwide. This equates to an annual average North Kingstown house appreciation rate of 7.69%.
Appreciation rates are so strong in North Kingstown that despite a nationwide downturn in the housing market, North Kingstown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, North Kingstown appreciation rates continue to be some of the highest in America, at 10.17%, which is higher than appreciation rates in 82.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in North Kingstown. North Kingstown appreciation rates in the latest quarter were at 2.49%, which equates to an annual appreciation rate of 10.34%.
Relative to Rhode Island, our data show that North Kingstown's latest annual appreciation rate is lower than 90% 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 North Kingstown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Kingstown - 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 North Kingstown real estate investment or home purchase decisions.
Median Home Value
$744,511
High
for Rhode island
Very High
for nation
Number of Homes And Apartments:
11,338
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$2,252 / per month