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 13,120, 5,079 total housing units (homes and apartments), and a median house value of $581,175, East Greenwich house prices are not only among the most expensive in Rhode Island, East Greenwich real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in East Greenwich, accounting for 69.62% of the town's housing units. Other types of housing that are prevalent in East Greenwich include large apartment complexes or high rise apartments ( 14.05%), duplexes, homes converted to apartments or other small apartment buildings ( 11.53%), and a few row houses and other attached homes ( 3.44%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Greenwich. Owner-occupied housing accounts for 76.75% of East Greenwich's homes, and 56.84% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in East Greenwich 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 East Greenwich built between 1940-1969 ( 27.12%). A lesser amount of the housing stock also hails from before 1939 ( 19.83%). There's also some housing in East Greenwich built between 2000 and later ( 13.29%).
Real estate appreciation rates in East Greenwich's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.84% during the period.
Appreciation rates are so strong in East Greenwich that despite a nationwide downturn in the housing market, East Greenwich real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Greenwich appreciation rates continue to be some of the highest in America, at 10.50%, which is higher than appreciation rates in 71.36% 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 Greenwich. East Greenwich appreciation rates in the latest quarter were at 4.04%, which equates to an annual appreciation rate of 17.15%.
Importantly, this makes East Greenwich 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 East Greenwich's latest annual appreciation rate is lower than 80% of the other cities and towns in Rhode Island.