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 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

South Kingstown Housing Market Information

With a population of 30,826, 10,325 total housing units (homes and apartments), and a median house value of $359,478, 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 76.15% of the town's housing units. Other types of housing that are prevalent in South Kingstown include large apartment complexes or high rise apartments ( 12.48%), duplexes, homes converted to apartments or other small apartment buildings ( 5.76%), and a few row houses and other attached homes ( 3.30%).

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 60.29% owning and 39.71% 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 ( 22.51%). A lesser amount of the housing stock also hails from before 1939 ( 19.00%). There's also some housing in South Kingstown built between 2000 and later ( 13.52%).

Vacant housing appears to be an issue in South Kingstown. Fully 19.56% 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

South Kingstown's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in South Kingstown during the period has been just -0.96%, which is lower than 70% of US communities.

Appreciation rates are so strong in South Kingstown that despite a nationwide downturn in the housing market, South Kingstown real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, South Kingstown appreciation rates continue to be some of the highest in America, at 6.53%, which is higher than appreciation rates in 78.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in South Kingstown. South Kingstown appreciation rates in the latest quarter were at 0.64%, which equates to an annual appreciation rate of 2.59%.

Relative to Rhode Island, our data show that South Kingstown's latest annual appreciation rate is higher than 70% 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:
$359,478

South Kingstown, RI HOME PRICES

Value Range
> $1,138,000 0.9
$854,001 - $1,138,000 2.7
$569,001 - $854,000 9.4
$455,001 - $569,000 13.0
$341,001 - $455,000 30.9
$228,001 - $341,000 29.3
$114,001 - $228,000 10.7
$57,001 - $114,000 0.8
$0 - $57,000 2.3

High for RI
Very High for Nation

Value Relative to Nation Value Relative to State
11.5258408531583 30.7692307692308

Number Of Homes And Apartments:
10,325

South Kingstown 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
68.10% 3.06% 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,314 / per month

Homeownership Rate

Homeownership
Owners 60.29
Renters 39.71
Vacant 19.56

Housing Market Details

 

Age of Homes

AGE OF South Kingstown HOMES
2000 or Newer 13.5
1970 - 1999 45.0
1940 - 1969 22.5
1939 or Older 19.0

Types of Homes

TYPE OF South Kingstown HOMES
Single-Family 76.2
Townhomes 3.3
Small Apt. Buildings 5.8
Apt. Complexes 12.5
Mobile Homes 2.1
Other 0.2

Home Size

SIZE OF South Kingstown HOMES
No Bedroom 1.92
1 Bedroom 14.13
2 Bedrooms 26.22
3 Bedrooms 39.30
4 Bedrooms 15.56
5 or more bedrooms 2.87