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 46,691 people, 20,410 houses or apartments, and a median cost of homes of $429,409, East Providence real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in East Providence, accounting for 53.11% of the city's housing units. Other types of housing that are prevalent in East Providence include large apartment complexes or high rise apartments ( 22.15%), duplexes, homes converted to apartments or other small apartment buildings ( 20.90%), and a few row houses and other attached homes ( 3.37%).
People in East Providence primarily live in small (one, two or no bedroom) single-family detached homes. East Providence has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. East Providence's housing was primarily built during this period, from the '40s through the '60s. A full 41.08% of the city's housing hails from this era. Other housing ages represented in East Providence include homes built before 1939 ( 30.60%) and housing constructed between 1970-1999 ( 20.88%). There's also some housing in East Providence built between 2000 and later ( 7.45%).
In the last 10 years, East Providence has experienced some of the highest home appreciation rates of any community in the nation. East Providence real estate appreciated 122.07% over the last ten years, which is an average annual home appreciation rate of 8.31%, putting East Providence in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, East Providence definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in East Providence that despite a nationwide downturn in the housing market, East Providence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Providence appreciation rates continue to be some of the highest in America, at 10.69%, which is higher than appreciation rates in 90.01% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Providence. East Providence appreciation rates in the latest quarter were at 2.99%, which equates to an annual appreciation rate of 12.50%.
Importantly, this makes East 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 Rhode Island, our data show that East Providence's latest annual appreciation rate is higher than 80% of the other cities and towns in Rhode Island.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within East Providence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East Providence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best East Providence real estate investment or home purchase decisions.
$429,409
for Rhode island
for nation
20,410
$2,499 / per month