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 11,119 people, 5,006 houses or apartments, and a median cost of homes of $506,220, 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.
Real estate appreciation rates in Warren's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.46% during the period.
NeighborhoodScout's data show that during the latest twelve months, Warren's appreciation rate, at 6.89%, has been at or slightly above the national average. In the latest quarter, Warren's appreciation rate has been 2.99%, which annualizes to a rate of 12.50%.
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 80% of the other cities and towns in Rhode Island.
$506,220
for Rhode island
for nation
5,006
$2,239 / per month