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 about Scout's Real Estate Data
With a population of 72,117, 28,196 total housing units (homes and apartments), and a median house value of $228,161, Pawtucket real estate values are some of the lowest in Rhode Island, although compared to real estate around the nation, Pawtucket homes are still considered rather expensive.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Pawtucket, accounting for 43.83% of the city's housing units. Other types of housing that are prevalent in Pawtucket include single-family detached homes ( 31.88%), large apartment complexes or high rise apartments ( 20.72%), and a few row houses and other attached homes ( 2.62%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.
People in Pawtucket primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Pawtucket has a mixture of owner-occupied and renter-occupied housing.
The housing in Pawtucket was primarily built before 1939 ( 43.77%), making the housing stock in Pawtucket some of the oldest overall in America, although there is a range of ages of homes in Pawtucket. The next most important housing age is between 1940-1969 ( 35.60%), followed by between 1970-1999 ( 16.94%). There's also some housing in Pawtucket built between 2000 and later ( 3.70%).
Vacant housing appears to be an issue in Pawtucket. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Pawtucket homes and apartments can be a drag on the real estate market, holding Pawtucket 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 Pawtucket have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.34%, which ranks in the top 40% nationwide. This equates to an annual average Pawtucket house appreciation rate of 3.00%.
NeighborhoodScout's data show that during the latest twelve months, Pawtucket's appreciation rate, at 4.29%, has been at or slightly above the national average. In the latest quarter, Pawtucket's appreciation rate has been 1.49%, which annualizes to a rate of 6.08%.
Relative to Rhode Island, our data show that Pawtucket's latest annual appreciation rate is lower 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 city. Individual neighborhoods within Pawtucket differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pawtucket - 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 Pawtucket real estate investment or home purchase decisions.