The housing market in Narragansett, RI is a strong one; the median value of houses in the area is $653,500, which is nearly double that of the US House Median Value of $338,100. The house appreciation rate for the past year has also been impressive at 10.78%, significantly higher than the US 1 year House Appreciation rate of 8.27%. This indicates that housing in Narragansett, RI is not only more expensive than in other areas of the US but also appreciating at a faster pace.
The median home cost in Narragansett is $653,500. Home appreciation the last 10 years has been 91.2%. Home Appreciation in Narragansett is up 16.0%.
Average Age of Homes
- The median age of Narragansett real estate is 42 years old
The Rental Market in Narragansett
- Renters make up 21.8% of the Narragansett population
- 2.3% of houses and apartments in Narragansett, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.