Warren, RI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Warren, RI Housing Market Trends

With a population of 10,511, 4,884 total housing units (homes and apartments), and a median house value of $397,069, real estate costs in Warren 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 Warren, accounting for 47.59% of the town's housing units. Other types of housing that are prevalent in Warren include duplexes, homes converted to apartments or other small apartment buildings ( 30.15%), large apartment complexes or high rise apartments ( 17.58%), and a few row houses and other attached homes ( 4.53%).

People in Warren primarily live in small (one, two or no bedroom) single-family detached homes. Warren has a mixture of owner-occupied and renter-occupied housing.

The housing in Warren was primarily built before 1939 ( 37.72%), making the housing stock in Warren some of the oldest overall in America, although there is a range of ages of homes in Warren. The next most important housing age is between 1970-1999 ( 29.11%), followed by between 1940-1969 ( 28.19%). There's also some housing in Warren built between 2000 and later ( 4.98%).

Warren Home Appreciation Rates

Appreciation rates for homes in Warren have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 45.82%, which ranks in the top 50% nationwide. This equates to an annual average Warren house appreciation rate of 3.84%.

Appreciation rates are so strong in Warren that despite a nationwide downturn in the housing market, Warren real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Warren appreciation rates continue to be some of the highest in America, at 11.08%, which is higher than appreciation rates in 77.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Warren. Warren appreciation rates in the latest quarter were at 4.04%, which equates to an annual appreciation rate of 17.16%.

Importantly, this makes Warren 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 Warren's latest annual appreciation rate is lower than 70% of the other cities and towns in Rhode Island.

Average Home Values

 

Median Home Value:
$397,069

Warren, RI HOME PRICES

> $1,274,000
1.2%
1.2%
$956,001 - $1,274,000
1.0%
1.0%
$637,001 - $956,000
3.1%
3.1%
$509,001 - $637,000
8.4%
8.4%
$382,001 - $509,000
29.4%
29.4%
$255,001 - $382,000
41.0%
41.0%
$127,001 - $255,000
13.8%
13.8%
$64,001 - $127,000
0.9%
0.9%
$0 - $64,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for RI

Value Relative To Nation

Number Of Homes And Apartments:
4,884

Warren Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
108.81% 3.48%
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,488 / per month

Homeownership Rate

Owners
53.2%
53.2%
Renters
46.8%
46.8%
Vacant
8.9%
8.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
5.0%
5.0%
1970 - 1999
29.1%
29.1%
1940 - 1969
28.2%
28.2%
1939 or Older
37.7%
37.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
47.6%
47.6%
Townhomes
4.5%
4.5%
Small Apt. Buildings
30.2%
30.2%
Apt. Complexes
17.6%
17.6%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.3%
3.3%
1 Bedroom
20.9%
20.9%
2 Bedrooms
33.4%
33.4%
3 Bedrooms
30.4%
30.4%
4 Bedrooms
8.4%
8.4%
5 or more bedrooms
3.7%
3.7%
0.0% 100.0%
% OF HOMES