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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

North Smithfield Housing Market Information

With a population of 12,438, 4,536 total housing units (homes and apartments), and a median house value of $299,545, 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 68.22% of the town's housing units. Other types of housing that are prevalent in North Smithfield include duplexes, homes converted to apartments or other small apartment buildings ( 14.63%), large apartment complexes or high rise apartments ( 12.82%), and a few row houses and other attached homes ( 4.33%).

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 74.48% of North Smithfield's homes, and 55.32% 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 ( 27.71%). A lesser amount of the housing stock also hails from before 1939 ( 24.71%). There's also some housing in North Smithfield built between 2000 and later ( 13.91%).

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 1.05% during the period.

Over the last year, North Smithfield appreciation rates have trailed the rest of the nation. In the last twelve months, North Smithfield's appreciation rate has been 2.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in North Smithfield were at 0.86%, which equates to an annual appreciation rate of 3.50%.

Relative to Rhode Island, our data show that North Smithfield's latest annual appreciation rate is lower than 60% of the other cities and towns in Rhode Island.

Average Home Values

 

Median Home Value:
$299,545

North Smithfield, RI HOME PRICES

Value Range
> $1,167,000 0.2
$875,001 - $1,167,000 0.0
$583,001 - $875,000 4.3
$467,001 - $583,000 10.3
$350,001 - $467,000 28.2
$233,001 - $350,000 39.0
$116,001 - $233,000 14.1
$58,001 - $116,000 0.8
$0 - $58,000 3.1

Low for RI
Very High for Nation

Value Relative to Nation Value Relative to State
19.7372262773723 69.2307692307692

Number Of Homes And Apartments:
4,536

North Smithfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2019 Q2
66.20% 2.64%
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,375 / per month

Homeownership Rate

Homeownership
Owners 74.48
Renters 25.52
Vacant 9.84

Housing Market Details

 

Age of Homes

AGE OF North Smithfield HOMES
2000 or Newer 13.9
1970 - 1999 33.7
1940 - 1969 27.7
1939 or Older 24.7

Types of Homes

TYPE OF North Smithfield HOMES
Single-Family 68.2
Townhomes 4.3
Small Apt. Buildings 14.6
Apt. Complexes 12.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF North Smithfield HOMES
No Bedroom 0.72
1 Bedroom 12.07
2 Bedrooms 27.35
3 Bedrooms 39.77
4 Bedrooms 15.54
5 or more bedrooms 4.55

Popular Neighborhoods in North Smithfield

Zip Codes in North Smithfield, RI