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Real Estate Prices & Overview

Prudence Island / Homestead median real estate price is $852,848, which is more expensive than 93.7% of the neighborhoods in Rhode Island and 90.0% of the neighborhoods in the U.S.

The average rental price in Prudence Island / Homestead is currently $1,988, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 87.3% of Rhode Island neighborhoods.

Prudence Island / Homestead is a suburban 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 older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Vacant apartments or homes are a major fact of life in Prudence Island / Homestead. The current real estate vacancy rate here is 44.4%. 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 (31.5%). 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

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Prudence Island / Homestead neighborhood is on the ocean, a bay, or inlet. Often such coastal places have amenities and recreational activities on the waterfront that are attractive to residents and visitors alike. 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, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 44.4% of the residential real estate vacant, the Prudence Island / Homestead neighborhood claims the distinction of having a higher vacancy rate than 98.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

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 97.2% 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, 3.1% of this neighborhood's residents have Eastern European ancestry and 3.6% 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

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a 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 73.8% 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.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Prudence Island / Homestead neighborhood, 58.6% 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 20.4% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (14.0%), and 6.9% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Prudence Island / Homestead neighborhood is English, spoken by 95.7% of households. Some people also speak Polish (2.7%).

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 (16.0%). There are also a number of people of English ancestry (13.7%), and residents who report Italian roots (12.3%), and some of the residents are also of German ancestry (11.1%), along with some French ancestry residents (7.9%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Prudence Island / Homestead neighborhood spend between 15 and 30 minutes commuting one-way to work (40.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (72.2%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.7%) . 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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