North Providence, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating North Providence Neighborhoods Since 2000




North Providence, 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

North Providence Housing Market Information

With 32,480 people, 14,277 houses or apartments, and a median cost of homes of $223,185, North Providence real estate values are some of the lowest in Rhode Island, although compared to real estate around the nation, North Providence homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in North Providence, accounting for 48.55% of the town's housing units. Other types of housing that are prevalent in North Providence include large apartment complexes or high rise apartments ( 30.62%), duplexes, homes converted to apartments or other small apartment buildings ( 15.84%), and a few row houses and other attached homes ( 4.59%).

People in North Providence primarily live in small (one, two or no bedroom) single-family detached homes. North Providence has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in North Providence 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 Providence built between 1940-1969 ( 36.09%). A lesser amount of the housing stock also hails from before 1939 ( 15.64%). There's also some housing in North Providence built between 2000 and later ( 2.98%).

North Providence Home Appreciation Rates

Homes have actually lost value in North Providence over the last then years, as home values have seen a decline of 24.77% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows North Providence home appreciation rates at 0.64%, which equates to an annual appreciation rate of 2.59%.

NeighborhoodScout's data show that during the latest twelve months, North Providence's appreciation rate, at 3.82%, has been at or slightly above the national average. In the latest quarter, North Providence's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.

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

Average Home Values

 

Median Home Value:
$223,185

North Providence, RI HOME PRICES

Value Range
> $1,104,000 0.1
$828,001 - $1,104,000 0.1
$552,001 - $828,000 0.8
$442,001 - $552,000 1.7
$332,001 - $442,000 9.3
$221,001 - $332,000 36.9
$111,001 - $221,000 42.2
$55,001 - $111,000 5.3
$0 - $55,000 3.5

Very Low for RI
High for Nation

Value Relative to Nation Value Relative to State
27.1299660142974 87.1794871794872

Number Of Homes And Apartments:
14,277

North Providence 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
43.72% 2.12% 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,182 / per month

Homeownership Rate

Homeownership
Owners 59.40
Renters 40.60
Vacant 8.16

Housing Market Details

 

Age of Homes

AGE OF North Providence HOMES
2000 or Newer 3.0
1970 - 1999 45.3
1940 - 1969 36.1
1939 or Older 15.6

Types of Homes

TYPE OF North Providence HOMES
Single-Family 48.5
Townhomes 4.6
Small Apt. Buildings 15.8
Apt. Complexes 30.6
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF North Providence HOMES
No Bedroom 2.12
1 Bedroom 22.17
2 Bedrooms 31.53
3 Bedrooms 35.80
4 Bedrooms 6.73
5 or more bedrooms 1.63