The housing market in Rhode Island State is quite strong, with the median value of a home being $401,200. This is higher than the US median house value of $338,100. Interestingly, while the national average for house appreciation was 8.27% in the past year, Rhode Island's average was 5.81%. This suggests that the housing market in Rhode Island has been stable and dependable despite fluctuations nationwide.
The median home cost in Rhode Island is $401,200. Home appreciation the last 10 years has been 92.7%. Home Appreciation in Rhode Island is up 15.2%.
Average Age of Homes
- The median age of Rhode Island real estate is 57 years old
The Rental Market in Rhode Island
- Renters make up 35.2% of the Rhode Island population
- 1.8% of houses and apartments in Rhode Island, 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.