North Smithfield RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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North Smithfield, 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 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

North Smithfield Housing Market Information

With 12,485 people, 4,560 houses or apartments, and a median cost of homes of $333,857, North Smithfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in North Smithfield, accounting for 72.21% of the town's housing units. Other types of housing that are prevalent in North Smithfield include large apartment complexes or high rise apartments ( 11.67%), duplexes, homes converted to apartments or other small apartment buildings ( 10.45%), and a few row houses and other attached homes ( 5.66%).

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 Smithfield. Owner-occupied housing accounts for 77.57% of North Smithfield's homes, and 60.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in North Smithfield 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 Smithfield built between 1940-1969 ( 27.70%). A lesser amount of the housing stock also hails from before 1939 ( 25.29%). There's also some housing in North Smithfield built between 2000 and later ( 14.78%).

North Smithfield Home Appreciation Rates

Real estate appreciation rates in North Smithfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.97% during the period.

NeighborhoodScout's data show that during the latest twelve months, North Smithfield's appreciation rate, at 4.76%, has been at or slightly above the national average. In the latest quarter, North Smithfield's appreciation rate has been 1.59%, which annualizes to a rate of 6.51%.

Relative to Rhode Island, our data show that North Smithfield's latest annual appreciation rate is lower than 70% of the other cities and towns in Rhode Island.

Average Home Values

 

Median Home Value:
$333,857

North Smithfield, RI HOME PRICES

Value Range
> $1,174,000 1.1
$881,001 - $1,174,000 0.0
$587,001 - $881,000 4.3
$469,001 - $587,000 7.8
$352,001 - $469,000 33.6
$235,001 - $352,000 40.8
$117,001 - $235,000 9.5
$59,001 - $117,000 0.8
$0 - $59,000 2.2

Average for RI
Very High for Nation

Value Relative to Nation Value Relative to State
17.3518248175182 53.8461538461538

Number Of Homes And Apartments:
4,560

North Smithfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
73.95% 2.77%
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,522 / per month

Homeownership Rate

Homeownership
Owners 77.57
Renters 22.43
Vacant 7.45

Housing Market Details

 

Age of Homes

AGE OF North Smithfield HOMES
2000 or Newer 14.8
1970 - 1999 32.2
1940 - 1969 27.7
1939 or Older 25.3

Types of Homes

TYPE OF North Smithfield HOMES
Single-Family 72.2
Townhomes 5.7
Small Apt. Buildings 10.5
Apt. Complexes 11.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Smithfield HOMES
No Bedroom 0.61
1 Bedroom 11.63
2 Bedrooms 23.30
3 Bedrooms 44.55
4 Bedrooms 16.32
5 or more bedrooms 3.59

Popular Neighborhoods in North Smithfield

Zip Codes in North Smithfield, RI