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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 11,119 people, 5,006 houses or apartments, and a median cost of homes of $492,761, Warren real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Warren, accounting for 53.09% 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 ( 25.62%), large apartment complexes or high rise apartments ( 16.27%), and a few row houses and other attached homes ( 5.01%).

The most prevalent building size and type in Warren are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 57.83% owning and 42.17% renting.

The housing in Warren was primarily built before 1939 ( 43.90%), 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 ( 26.32%), followed by between 1940-1969 ( 25.98%). There's also some housing in Warren built between 2000 and later ( 3.80%).

Vacant housing appears to be an issue in Warren. Fully 10.67% of the housing stock is classified as vacant. Left unchecked, vacant Warren homes and apartments can be a drag on the real estate market, holding Warren 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.

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 90.49%, which ranks in the top 40% nationwide. This equates to an annual average Warren house appreciation rate of 6.66%.

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 7.71%, which is higher than appreciation rates in 81.60% 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 2.08%, which equates to an annual appreciation rate of 8.59%.

Relative to Rhode Island, our data show that Warren's latest annual appreciation rate is lower than 90% of the other cities and towns in Rhode Island.

Average Home Values

Median Home Value

$492,761

Warren, RI Home Prices
> $1,322,000
$992,001 - $1,322,000
$661,001 - $992,000
$529,001 - $661,000
$397,001 - $529,000
$264,001 - $397,000
$132,001 - $264,000
$66,001 - $132,000
$0 - $66,000
0.8%
0.8%
3.9%
3.9%
13.3%
13.3%
16.3%
16.3%
31.3%
31.3%
24.6%
24.6%
7.8%
7.8%
0.0%
0.0%
2.0%
2.0%
0% 100.0%
% of Homes
Average

for Rhode island

Very High

for nation

Number of Homes And Apartments:

5,006

Warren Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,131 / per month

Homeownership Rate

Owners
Renters
57.8%
57.8%
42.2%
42.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.7%
10.7%
89.3%
89.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.8%
3.8%
26.3%
26.3%
26.0%
26.0%
43.9%
43.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
53.1%
53.1%
5.0%
5.0%
25.6%
25.6%
16.3%
16.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.7%
2.7%
17.4%
17.4%
29.1%
29.1%
39.7%
39.7%
10.1%
10.1%
1.1%
1.1%
0% 100.0%
% of Homes