Hopkinton CDP Rhode Island Area Home Supply Charts

This page looks at a variety of Hopkinton CDP Rhode Island housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Hopkinton CDP depicts it has a Housing Units of 294 which is the second smallest when sorted by housing units of all the other places in the local area.

Figure 2 illustrates the housing density in the Hopkinton CDP housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Hopkinton CDP depicts it has a Housing Density of 88.8 which is the smallest as measured by housing density of all the other places in the surrounding region. The place with the highest housing density in the area is Westerly CDP which shows a density of 603.8 ( appreciably bigger). Comparing housing density to the United States average of 39.5, Hopkinton CDP is approximately 2.2 times bigger. Also, measured against the state of Rhode Island, housing density of 465.4, Hopkinton CDP is approximately a fifth the size.

In Figure 3, Hopkinton CDP area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Hopkinton CDP shows it has a Housing Unit Change of 29.5% which is more than all other places in the greater Hopkinton CDP region. Comparing change in the housing units to the United States average of 7.4%, Hopkinton CDP is approximately 4.0 times bigger. Also, benchmarked against the state of Rhode Island, change in the housing units of 3.8%, Hopkinton CDP is markedly bigger.

Figure 4 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Hopkinton CDP shows it has a Renter Percent of 33.3% which is the second most of all the places in the metro area. Figure 5 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 66.7% which is the second smallest in order of owner percent of all the other places in the area.

Hopkinton CDP Rhode Island Home Cost Charts

Figure 7 provides aggregate comparative data for the Hopkinton CDP Rhode Island metro area in terms of the median housing rental rate, apartment rent, etc. Hopkinton CDP depicts it has a Median Gross Rent of $375 which is less than most other places in the local area. The place with the highest rental rates in the area is Ashaway CDP which depicts a rental rates of $1,294 (approximately 3.5 times bigger). Comparing rental rates to the United States average of $1,163, Hopkinton CDP is approximately a third the size. Also, measured against the state of Rhode Island, rental rates of $1,097, Hopkinton CDP is approximately a third the size.

Median owner costs for the real estate market are shown in Figure 8 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Hopkinton CDP depicts it has a Median Owner Cost of $1,317 which is less than most other places in the metropolitan area. Figure 9 shows the median amount of cost as a percent of total household income for people who own homes in the Hopkinton CDP metro area. it has a Owner Cost as % of HH Income of 24% which is the second most cost as a percent of household income of all the places in the greater Hopkinton CDP region. The next chart, Figure 10, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Hopkinton CDP shows it has a Median Home Value as Percent of Median Earnings of 325% which is the smallest when sorted by median home value as a percent of median worker earnings of all the other places in the metro area.

Next shown in Figure 11 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Hopkinton CDP depicts it has a % of Income Owner Costs-With Mortgage of 25% which is the second most of all the places in the local area. The place with the highest cost as a percent of household income in the area is Wyoming CDP which shows a cost as a percent of household income of 33% (33.7% larger).

Figure 13 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Hopkinton CDP has the largest proportion of rent as a percent of income is between 10pct to 20pct at 52% of the total and is ranked #1. Second, it has the largest proportion of rent as a percent of income is between 20pct to 30pct at 32% of the total and is ranked #1.

Figure 14 shows the total housing cost for both home owners and apartment community renters in the area. Hopkinton CDP has the largest proportion of housing cost less than $300 at 17% of the total and is ranked #1. Second, it has the smallest proportion of housing cost between $1,000 and $1,500 at 10% of the total.

Figure 15 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $3,902 which is the third most median real estate taxes paid of all other places in the greater Hopkinton CDP region. The place with the highest median real estate taxes paid in the area is Wyoming CDP which depicts a taxes paid of $7,534 (about twice as large). Comparing median real estate taxes paid to the United States average of $2,690, Hopkinton CDP is 45.1% larger. Also, compared with the state of Rhode Island, median real estate taxes paid of $4,483, Hopkinton CDP is about 14.9% smaller.

Figure 16 shows the percentage of renters who pay for utilities in Hopkinton CDP Rhode Island. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Hopkinton CDP has the largest proportion of pay extra for utilities at 37% of the total and is ranked #1.

Hopkinton CDP Rhode Island Home Financing Charts

Figure 17 shows the proportion of houses with a mortgage versus those without a mortgage. Hopkinton CDP has the percentage of houses with mortgages the second smallest when ranked by houses with a mortgage of all the other places in the metro area at 16% of the total.

Hopkinton CDP Rhode Island Home Characteristics Charts

Figure 19 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1993 which is more than all other places in the greater Hopkinton CDP region.

Figure 20 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built between 2010 to 2019 at 28% of the total and is ranked #1. Second, it has the largest proportion of homes built between 2000 to 2009 at 23% of the total and is ranked #1. Third, it has the smallest proportion of homes built between 1940 to 1949 at 11% of the total. Figure 21 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2015 to 2018 at 27% of the total and is ranked #1. Second, it has the largest proportion of owners moved in 1990 to 1999 at 54% of the total and is ranked #1.