Pawtucket, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Pawtucket Neighborhoods Since 2000




Pawtucket, 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

Pawtucket Housing Market Information

With a population of 71,591, 27,979 total housing units (homes and apartments), and a median house value of $192,270, 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 43.57% of the city's housing units. Other types of housing that are prevalent in Pawtucket include single-family detached homes ( 33.41%), large apartment complexes or high rise apartments ( 19.51%), and a few row houses and other attached homes ( 2.24%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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 ( 45.63%), 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 ( 34.63%), followed by between 1970-1999 ( 16.19%). There's also some housing in Pawtucket built between 2000 and later ( 3.55%).

Vacant housing appears to be an issue in Pawtucket. Fully 11.60% 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.

Pawtucket Home Appreciation Rates

Homes have actually lost value in Pawtucket over the last then years, as home values have seen a decline of 25.06% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Pawtucket home appreciation rates at 0.64%, which equates to an annual appreciation rate of 2.59%.

Appreciation rates are so strong in Pawtucket that despite a nationwide downturn in the housing market, Pawtucket real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pawtucket appreciation rates continue to be some of the highest in America, at 7.01%, which is higher than appreciation rates in 81.40% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pawtucket. Pawtucket appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Rhode Island, our data show that Pawtucket's latest annual appreciation rate is higher 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 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.

Average Home Values

 

Median Home Value:
$192,270

Pawtucket, RI HOME PRICES

Value Range
> $1,126,000 0.1
$844,001 - $1,126,000 0.1
$563,001 - $844,000 0.5
$450,001 - $563,000 1.5
$338,001 - $450,000 4.1
$225,001 - $338,000 23.5
$113,001 - $225,000 60.1
$56,001 - $113,000 7.2
$0 - $56,000 2.9

Very Low for RI
High for Nation

Value Relative to Nation Value Relative to State
34.1966483065745 92.3076923076923

Number Of Homes And Apartments:
27,979

Pawtucket 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
42.36% 2.07% 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,125 / per month

Homeownership Rate

Homeownership
Owners 43.44
Renters 56.56
Vacant 11.60

Housing Market Details

 

Age of Homes

AGE OF Pawtucket HOMES
2000 or Newer 3.5
1970 - 1999 16.2
1940 - 1969 34.6
1939 or Older 45.6

Types of Homes

TYPE OF Pawtucket HOMES
Single-Family 33.4
Townhomes 2.2
Small Apt. Buildings 43.6
Apt. Complexes 19.5
Mobile Homes 1.1
Other 0.2

Home Size

SIZE OF Pawtucket HOMES
No Bedroom 3.60
1 Bedroom 17.91
2 Bedrooms 34.79
3 Bedrooms 33.54
4 Bedrooms 8.25
5 or more bedrooms 1.92