South Kingstown RI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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South Kingstown, 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 Q2 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

South Kingstown Housing Market Information

With 30,788 people, 10,278 houses or apartments, and a median cost of homes of $401,807, real estate costs in South Kingstown 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 South Kingstown, accounting for 77.84% of the town's housing units. Other types of housing that are prevalent in South Kingstown include large apartment complexes or high rise apartments ( 11.53%), duplexes, homes converted to apartments or other small apartment buildings ( 5.23%), and a few row houses and other attached homes ( 3.05%).

The most prevalent building size and type in South Kingstown are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 59.09% owning and 40.91% renting.

There is a lot of housing in South Kingstown 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 South Kingstown built between 1940-1969 ( 23.40%). A lesser amount of the housing stock also hails from before 1939 ( 17.61%). There's also some housing in South Kingstown built between 2000 and later ( 15.59%).

Vacant housing appears to be an issue in South Kingstown. Fully 20.93% of the housing stock is classified as vacant. Left unchecked, vacant South Kingstown homes and apartments can be a drag on the real estate market, holding South Kingstown 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.

South Kingstown Home Appreciation Rates

Appreciation rates for homes in South Kingstown have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.85%, which ranks in the top 50% nationwide. This equates to an annual average South Kingstown house appreciation rate of 1.66%.

NeighborhoodScout's data show that during the latest twelve months, South Kingstown's appreciation rate, at 4.02%, has been at or slightly above the national average. In the latest quarter, South Kingstown's appreciation rate has been 0.86%, which annualizes to a rate of 3.50%.

Relative to Rhode Island, our data show that South Kingstown'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 town. Individual neighborhoods within South Kingstown differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in South Kingstown - 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 South Kingstown real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$401,807

South Kingstown, RI HOME PRICES

Value Range
> $1,214,000 0.7
$911,001 - $1,214,000 3.1
$607,001 - $911,000 10.1
$486,001 - $607,000 13.5
$364,001 - $486,000 35.8
$243,001 - $364,000 24.9
$121,001 - $243,000 8.3
$61,001 - $121,000 0.7
$0 - $61,000 2.8

High for RI
Very High for Nation

Value Relative to Nation Value Relative to State
11.2875912408759 30.7692307692308

Number Of Homes And Apartments:
10,278

South Kingstown Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
88.71% 3.31%
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,627 / per month

Homeownership Rate

Homeownership
Owners 59.09
Renters 40.91
Vacant 20.93

Housing Market Details

 

Age of Homes

AGE OF South Kingstown HOMES
2000 or Newer 15.6
1970 - 1999 43.4
1940 - 1969 23.4
1939 or Older 17.6

Types of Homes

TYPE OF South Kingstown HOMES
Single-Family 77.8
Townhomes 3.0
Small Apt. Buildings 5.2
Apt. Complexes 11.5
Mobile Homes 2.1
Other 0.2

Home Size

SIZE OF South Kingstown HOMES
No Bedroom 2.52
1 Bedroom 13.20
2 Bedrooms 26.73
3 Bedrooms 37.83
4 Bedrooms 16.12
5 or more bedrooms 3.61