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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Portsmouth, RI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Portsmouth, RI Housing Market Trends

With a population of 17,659, 7,323 total housing units (homes and apartments), and a median house value of $634,721, real estate costs in Portsmouth are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Rhode Island communities.

Single-family detached homes are the single most common housing type in Portsmouth, accounting for 76.64% of the town's housing units. Other types of housing that are prevalent in Portsmouth include row houses and other attached homes ( 8.10%), large apartment complexes or high rise apartments ( 6.47%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Portsmouth. Owner-occupied housing accounts for 79.04% of Portsmouth's homes, and 59.34% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Portsmouth 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 Portsmouth built between 1940-1969 ( 31.03%). A lesser amount of the housing stock also hails from before 1939 ( 16.88%). There's also some housing in Portsmouth built between 2000 and later ( 15.60%).

Vacant housing appears to be an issue in Portsmouth. Fully 13.24% of the housing stock is classified as vacant. Left unchecked, vacant Portsmouth homes and apartments can be a drag on the real estate market, holding Portsmouth 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.

Portsmouth Home Appreciation Rates

Appreciation rates for homes in Portsmouth have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.24%, which ranks in the top 50% nationwide. This equates to an annual average Portsmouth house appreciation rate of 6.47%.

Appreciation rates are so strong in Portsmouth that despite a nationwide downturn in the housing market, Portsmouth real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Portsmouth appreciation rates continue to be some of the highest in America, at 7.71%, which is higher than appreciation rates in 81.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Portsmouth. Portsmouth appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.59%.

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

Average Home Values

Median Home Value

$634,721

Portsmouth, RI Home Prices
> $1,346,000
$1,009,001 - $1,346,000
$673,001 - $1,009,000
$538,001 - $673,000
$404,001 - $538,000
$269,001 - $404,000
$134,001 - $269,000
$67,001 - $134,000
$0 - $67,000
6.0%
6.0%
11.1%
11.1%
30.0%
30.0%
17.5%
17.5%
18.3%
18.3%
10.2%
10.2%
5.4%
5.4%
0.3%
0.3%
1.1%
1.1%
0% 100.0%
% of Homes
High

for Rhode island

Very High

for nation

Number of Homes And Apartments:

7,323

Portsmouth Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,399 / per month

Homeownership Rate

Owners
Renters
79.0%
79.0%
21.0%
21.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.2%
13.2%
86.8%
86.8%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.6%
15.6%
36.5%
36.5%
31.0%
31.0%
16.9%
16.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.6%
76.6%
8.1%
8.1%
6.1%
6.1%
6.5%
6.5%
2.7%
2.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.1%
1.1%
8.6%
8.6%
28.4%
28.4%
37.0%
37.0%
22.3%
22.3%
2.6%
2.6%
0% 100.0%
% of Homes