Providence, RI

Population: 177.882
Average annual home appreciation rate: -2.17%
Total of homes for sale in this market:
Median home price: $204,496
Median Rent: $723 per room
Home price range: 33.18% of homes are between $184,001 – $276,000
Median sales price:
Number of homes:
Median foreclosure sales price:
Foreclosure discount:
Most common home type: 50.49% of homes are SMALL APARTMENT BUILDINGS
Number of vacant homes: 14.93%
Number of renters: 63.07%
Number of owner occupied: 36.93%
Number people living below poverty level: 27.71%
Unemployment rate: 11.00%
Is this area perfect for real estate deals going on right now? High poverty/unemployment rates have a great deal to do with the housing market, and it is very evident in Providence. History shows markets like this have been creating successful real estate investors time and time again. Buying when a market is “down” has been a successful part of the ‘buy and hold’ process from the beginning. Savvy investors rent their properties to those who can’t afford homes of their own, and with the price of rent in Providence being higher than the national average, it could be a great return on investment.

Leave a Reply

Your email address will not be published. Required fields are marked *