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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 30,348, 10,291 total housing units (homes and apartments), and a median house value of $428,218, 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 77.78% of the town's housing units. Other types of housing that are prevalent in South Kingstown include large apartment complexes or high rise apartments ( 10.52%), duplexes, homes converted to apartments or other small apartment buildings ( 5.04%), and a few mobile homes or trailers ( 3.33%).
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 59.91% owning and 40.09% 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 ( 24.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.24%). There's also some housing in South Kingstown built before 1939 ( 15.24%).
Vacant housing appears to be an issue in South Kingstown. Fully 20.65% 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.
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 33.26%, which ranks in the top 50% nationwide. This equates to an annual average South Kingstown house appreciation rate of 2.91%.
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 6.39%, which is higher than appreciation rates in 71.39% 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 2.55%, which equates to an annual appreciation rate of 10.60%.
Relative to Rhode Island, our data show that South Kingstown's latest annual appreciation rate is higher than 50% 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.