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Real Estate Prices & Overview

Prudence Island / Homestead median real estate price is $834,094, which is more expensive than 90.6% of the neighborhoods in Rhode Island and 87.6% of the neighborhoods in the U.S.

The average rental price in Prudence Island / Homestead is currently $2,548, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 60.0% of the neighborhoods in Rhode Island.

Prudence Island / Homestead is a rural neighborhood (based on population density) located in Portsmouth, Rhode Island. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Prudence Island / Homestead real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Prudence Island / Homestead neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.

Vacant apartments or homes are a major fact of life in Prudence Island / Homestead. The current real estate vacancy rate here is 43.2%. This is higher than the rate of vacancies in 98.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (29.1%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Prudence Island / Homestead is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Prudence Island / Homestead is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, despite all of the residential real estate here in the Prudence Island / Homestead neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 43.2%, which is higher than 98.0% of all U.S. neighborhoods.

People

In a nation where 1 out of every 4 children lives in poverty, the Prudence Island / Homestead neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, if you are planning to retire in Rhode Island, this neighborhood should be on your must-see list. For many reasons, Prudence Island / Homestead may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Rhode Island, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 96.4% of neighborhoods in RI. If a Rhode Island retirement is in your future, this neighborhood should be one of the places you visit.

Diversity

Did you know that the Prudence Island / Homestead neighborhood has more Eastern European and Portuguese ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.8% of this neighborhood's residents have Eastern European ancestry and 2.7% have Portuguese ancestry.

Prudence Island / Homestead is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 95.7% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Prudence Island / Homestead neighborhood in Portsmouth are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 73.0% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Prudence Island / Homestead neighborhood, 56.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 19.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.8%), and 10.3% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Prudence Island / Homestead neighborhood is English, spoken by 92.6% of households. Other important languages spoken here include French and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Prudence Island / Homestead neighborhood in Portsmouth, RI, residents most commonly identify their ethnicity or ancestry as Irish (15.1%). There are also a number of people of English ancestry (12.6%), and residents who report Italian roots (11.9%), and some of the residents are also of German ancestry (11.2%), along with some French ancestry residents (8.4%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Prudence Island / Homestead neighborhood spend between 15 and 30 minutes commuting one-way to work (38.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (70.5%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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