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 a population of 15,662, 6,569 total housing units (homes and apartments), and a median house value of $411,408, real estate costs in Tiverton are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Rhode Island communities.
Single-family detached homes are the single most common housing type in Tiverton, accounting for 71.90% of the town's housing units. Other types of housing that are prevalent in Tiverton include duplexes, homes converted to apartments or other small apartment buildings ( 11.03%), large apartment complexes or high rise apartments ( 9.33%), and a few row houses and other attached homes ( 4.34%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Tiverton. Owner-occupied housing accounts for 77.42% of Tiverton's homes, and 53.79% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Tiverton built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tiverton built between 1940-1969 ( 31.51%). A lesser amount of the housing stock also hails from before 1939 ( 19.27%). There's also some housing in Tiverton built between 2000 and later ( 15.48%).
Vacant housing appears to be an issue in Tiverton. Fully 11.71% of the housing stock is classified as vacant. Left unchecked, vacant Tiverton homes and apartments can be a drag on the real estate market, holding Tiverton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Tiverton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 45.01%, which ranks in the top 50% nationwide. This equates to an annual average Tiverton house appreciation rate of 3.79%.
Appreciation rates are so strong in Tiverton that despite a nationwide downturn in the housing market, Tiverton real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tiverton appreciation rates continue to be some of the highest in America, at 10.94%, which is higher than appreciation rates in 75.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tiverton. Tiverton appreciation rates in the latest quarter were at 4.03%, which equates to an annual appreciation rate of 17.13%.
Importantly, this makes Tiverton one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Rhode Island, our data show that Tiverton's latest annual appreciation rate is lower than 70% of the other cities and towns in Rhode Island.