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 8,995 people, 2,581 houses or apartments, and a median cost of homes of $481,721, Providence real estate prices are well above average cost compared to national prices.
Providence is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Providence than is found in 98% of the communities in America.
The large homes that make up Providence are primarily owner-occupied ( 86.83%).
There is a lot of housing in Providence 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 Providence built between 2000 and later ( 38.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.39%). There's also some housing in Providence built before 1939 ( 5.30%).
In the last 10 years, Providence has experienced some of the highest home appreciation rates of any community in the nation. Providence real estate appreciated 124.49% over the last ten years, which is an average annual home appreciation rate of 8.42%, putting Providence in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Providence definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Providence appreciation rates have trailed the rest of the nation. In the last twelve months, Providence's appreciation rate has been -1.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Providence were at 2.81%, which equates to an annual appreciation rate of 11.73%.
Importantly, this makes Providence one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Utah, our data show that Providence's latest annual appreciation rate is lower than 90% of the other cities and towns in Utah.
$481,721
for Utah
for nation
2,581
$1,690 / per month