Portsmouth, RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Portsmouth Neighborhoods Since 2000




Portsmouth, 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

Portsmouth Housing Market Information

With 17,373 people, 7,036 houses or apartments, and a median cost of homes of $411,495, 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 78.75% of the town's housing units. Other types of housing that are prevalent in Portsmouth include large apartment complexes or high rise apartments ( 7.45%), duplexes, homes converted to apartments or other small apartment buildings ( 5.44%), and a few row houses and other attached homes ( 4.75%).

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 73.61% of Portsmouth's homes, and 55.91% 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 ( 30.37%). A lesser amount of the housing stock also hails from before 1939 ( 16.21%). There's also some housing in Portsmouth built between 2000 and later ( 9.95%).

Vacant housing appears to be an issue in Portsmouth. Fully 16.44% 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

Portsmouth's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Portsmouth during the period has been just -1.34%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Portsmouth's appreciation rate, at 3.95%, has been at or slightly above the national average. In the latest quarter, Portsmouth's appreciation rate has been 0.64%, which annualizes to a rate of 2.59%.

Relative to Rhode Island, our data show that Portsmouth's latest annual appreciation rate is lower than 80% of the other cities and towns in Rhode Island.

Average Home Values

 

Median Home Value:
$411,495

Portsmouth, RI HOME PRICES

Value Range
> $1,104,000 4.8
$828,001 - $1,104,000 3.7
$552,001 - $828,000 18.8
$441,001 - $552,000 12.4
$331,001 - $441,000 22.2
$221,001 - $331,000 26.0
$110,001 - $221,000 6.7
$55,001 - $110,000 1.0
$0 - $55,000 4.4

Very High for RI
Very High for Nation

Value Relative to Nation Value Relative to State
8.90073831009024 20.5128205128205

Number Of Homes And Apartments:
7,036

Portsmouth 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
65.70% 2.97% 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,559 / per month

Homeownership Rate

Homeownership
Owners 73.61
Renters 26.39
Vacant 16.44

Housing Market Details

 

Age of Homes

AGE OF Portsmouth HOMES
2000 or Newer 10.0
1970 - 1999 43.5
1940 - 1969 30.4
1939 or Older 16.2

Types of Homes

TYPE OF Portsmouth HOMES
Single-Family 78.8
Townhomes 4.8
Small Apt. Buildings 5.4
Apt. Complexes 7.4
Mobile Homes 3.6
Other 0.0

Home Size

SIZE OF Portsmouth HOMES
No Bedroom 0.94
1 Bedroom 9.80
2 Bedrooms 29.76
3 Bedrooms 40.67
4 Bedrooms 15.25
5 or more bedrooms 3.59