The State of Rhode Island Area Home Supply Charts

This page looks at a variety of 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. Rhode Island depicts it has a Housing Units of 481,168 which is less than most other states in the local area.

Figure 2 illustrates the housing density in the Rhode Island housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) the state of depicts it has a Housing Density of 465.4 which is the largest of all states in the greater Rhode Island region.

In Figure 4, Rhode Island area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. the state of shows it has a Housing Unit Change of 3.8% which is the second most housing units of all the states in the greater Rhode Island region. The state with the highest change in the housing units in the group is Massachusetts which depicts a housing units of 6.1% (59.1% larger).

Figure 5 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.) the state of shows it has a Renter Percent of 37.7% which is is the uppermost of the states in the greater Rhode Island region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 62.3% which is the second smallest when ranked by owner percent of all the other states in the local area.

The State of Rhode Island Home Cost Charts

Looking at the housing data provided in Figure 7, the average Rhode Island home price is illustrated for this community and a useful analysis of affordable housing. Rhode Island shows it has a Median Home Value of $292,600 which is the second most median home prices of all the states in the greater Rhode Island region. The state with the highest median home price in the group is Massachusetts which depicts a home price of $424,700 (45.1% larger). Figure 8 provides aggregate comparative data for the Rhode Island metro area in terms of the median housing rental rate, apartment rent, etc. the state of shows it has a Median Gross Rent of $1,097 which is in the middle range of other states in the metro area. The state with the highest rental rates in the group is Massachusetts which shows a rental rates of $1,429 (30.3% larger).

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Rhode Island has the percentage of home price worth less than $50,000 less than most other states in the greater region at 1% of the total. Second, it has the largest proportion of home price worth between $100,000 to $200,000 at 34% of the total and is ranked #1. Third, it has the largest proportion of home price worth between $200,000 to $300,000 at 22% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. the state of depicts it has a Median Owner Cost of $1,626 which is the third most median ownership cost of all other states in the greater Rhode Island region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Rhode Island metro area. it has a Owner Cost as % of HH Income of 20% which is the largest of all states in the greater Rhode Island region.

The next chart, Figure 12, 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. the state of shows it has a Median Home Value as Percent of Median Earnings of 515% which is the second most median home value as a percent of median worker earnings of all the states in the greater Rhode Island region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) the state of depicts it has a Median Owner Costs-With Mortgage of $1,952 which is in the center range of other states in the metro area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $778 which is in the mid point range of other states in the local area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Rhode Island has the percentage of owner cost less than $300 in the mid range of other states in the greater region at 2% of the total. Second, it has the largest proportion of owner cost between $1,000 and $1,500 at 23% of the total and is ranked #1. Third, it has the largest proportion of owner cost between $1,500 and $2,000 at 16% of the total and is ranked #1. Also, it has in the center range of other states in the surrounding region as measured by owner cost between $3,500 and $4,000 at 3% of the total.

Next shown in Figure 17 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.) the state of shows it has a % of Income Owner Costs-With Mortgage of 23% which is more than all other states in the greater Rhode Island region. Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. the state of depicts it has a % of Income Owner Costs-No Mortgage of 13% which is less than most other states in the surrounding region. The state with the highest cost as a percent of household income in the group is Vermont which shows a cost as a percent of household income of 14% (9.0% larger).

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Rhode Island has the largest proportion of housing cost between $1,000 and $1,500 at 20% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $4,483 which is less than most other states in the local area. The state with the highest median real estate taxes paid in the group is Connecticut which shows a taxes paid of $6,153 (37.3% larger).

The State of Rhode Island Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Rhode Island has the largest proportion of With mortgage at 56% of the total and is ranked #1. Second, it has less than most other states in the metropolitan area in order of With HELOC no Primary Mortgage at 32% of the total.

The State of Rhode Island Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.2 which is the largest of all states in the greater Rhode Island region.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.4 which is less than most other states in the area. The state with the highest average number of rooms in a house in the group is Connecticut which depicts an average number of rooms in a house of 5.6 (only about 3.7% larger). Figure 30 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 1960 which is the second smallest when ranked by year built of all the other states in the local area. The state with the highest year built in the group is New Hampshire which shows a year built of 1978 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. has the smallest proportion of homes built in 2020 or later at 2% of the total. Second, it has the smallest proportion of homes built between 2010 to 2019 at 6% of the total. Third, it has the smallest proportion of homes built between 2000 to 2009 at 7% of the total. Also, it has one of the largest proportions of homes built between 1940 to 1949 at 31% of the total and is ranked #2. The only larger state being Massachusetts with 32%.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 160,918 of the total and is ranked #3. Only #2 Connecticut (471,821), and #1 Massachusetts (1,020,041) are larger.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of one unit attached at 11% of the total and is ranked #1. Second, it has the largest proportion of 2 units at 12% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2020 or later at $436,200 of the total and is ranked #3. Only #2 Connecticut ($456,000), and #1 Massachusetts ($591,500) are larger. Second, it has one of the largest proportions of value of homes built 2010 to 2019 at $381,000 of the total and is ranked #3. Only #2 Connecticut ($397,500), and #1 Massachusetts ($485,500) are larger. Third, it has one of the largest proportions of value of homes built 2000 to 2009 at $369,200 of the total and is ranked #2. The only larger state being Massachusetts with $479,000. Also, it has one of the largest proportions of value of homes built 1990 to 1999 at $319,600 of the total and is ranked #2. The only larger state being Massachusetts with $397,400. In addition, it has one of the largest proportions of value of homes built 1980 to 1989 at $303,800 of the total and is ranked #2. The only larger state being Massachusetts with $377,800. Furthermore, it has one of the largest proportions of value of homes built 1970 to 1979 at $283,500 of the total and is ranked #2. The only larger state being Massachusetts with $399,600. Next it has one of the largest proportions of value of homes built 1960 to 1969 at $259,100 of the total and is ranked #2. The only larger state being Massachusetts with $383,500. Additionally, it has one of the largest proportions of value of homes built 1950 to 1959 at $254,600 of the total and is ranked #2. The only larger state being Massachusetts with $375,000. And then, it has one of the largest proportions of value of homes built 1940 to 1949 at $267,600 of the total and is ranked #2. The only larger state being Massachusetts with $442,500.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Rhode Island residents. it has a Owner-Household Size of 2.6 which is the third most of all other states in the local area. The state with the highest homeowner household size in the group is Massachusetts which shows a homeowner household size of 2.7 ( only slightly larger).

Figure 37 shows the household size for renters. the state of shows it has a Renter-Household Size of 2.2 which is the second most renter household sizes of all the states in the greater Rhode Island region. The state with the highest renter household size in the group is Connecticut which depicts a renter household sizes of 2.2 ( only slightly larger). Figure 38 shows the year that people who own homes moved into this region. has the smallest proportion of owners moved in 2015 to 2018 at 15% of the total. Figure 39 shows the year that people who rent moved into the area. Rhode Island has the smallest proportion of renters moved in 2019 or later at 44% of the total. Second, it has the largest proportion of renters moved in 2015 to 2018 at 24% of the total and is ranked #1. Third, it has the largest proportion of renters moved in 2000 to 2009 at 4% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2005 which is the second most median year that a home owner moved in of all the states in the greater Rhode Island region. Figure 41 compares the median year that renters moved into their home. the state of shows it has a Renter Median Year Moved In of 2016 which is more than all other states in the greater Rhode Island region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of home using electricity less than most other states in the local area at 29% of the total. Second, it has the smallest proportion of homes using kerosene or other fuel oils at 0% of the total. Third, it has less than most other states in the metropolitan area when ranked by homes using coal or coke at 1% of the total. Also, it has the smallest proportion of homes using wood at 0% of the total. In addition, it has the smallest proportion of homes using solar energy at 1% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Rhode Island housing department, department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. the state of depicts it has a Total In Group Quarters of 41,824 which is the third most number of people in group quarters of all other states in the greater Rhode Island region.

Figure 44 shows the percentage of people who are living in group quarters to the total population for Rhode Island residents (these may include colleges and jails but also community centers for homelessness or that require a housing choice voucher which are run by certain nonprofits or an affordable housing department.) Rhode Island has the largest proportion of number of people under 18 years of age and in group quarters at 99% of the total and is ranked #1.