Rhode Island Real Estate and Livability Trends
Rhode Island's average taxable income per tax return jumped from $60,119.94 in 2013 to $85,031.42 in 2021, implying a growing allure for investors and new residents. Meanwhile, median home values skyrocketed from $238,000 in 2015 to $343,100 in 2022, a growth rate that outstripped the national rise. Real estate taxes also went up from $5,052.38 in 2012 to $6,888.41 in 2021, underscoring... Read more
Rhode Island Market Trends
Rhode Island's median home values surged from $238,000 in 2015 to $343,100 in 2022, outpacing the national rise. This competitive market possibly indicates higher appreciation for investments. Residential energy tax credits in Rhode Island showed notable peaks in 2017 and 2018, suggesting changing incentives and a potential rise in energy-efficient upgrades. Real estate taxes climbed from around... Read more
Median Value of Occupied Housing Units in Rhode Island Over the Last 8 Years
Rhode Island's median home values saw significant growth over the past eight years, jumping from $238,000 in 2015 to $343,100 in 2022. This increase outpaces the national trend, where the median value rose from $125,500 to $179,400 in the same period. This suggests a more competitive market within the state and could imply better appreciation for investments compared to the national scene. Prospective buyers and investors may find Rhode Island's housing market more resilient and promising for future value growth.
Active Loans in Foreclosure/Bankruptcy/Deed in Lieu in Rhode Island over the last 10 years
Active Loans 30-60 Days Past Due in Rhode Island over the last 10 years in Rhode Island
Perent of loans that are Active Loans 90-180 Days Past Due in Rhode Island over the last 10 years in Rhode Island
Residential Energy Tax Credit Per Tax Return in Rhode Island Over the Last 9 Years
Rhode Island has seen significant fluctuations in residential energy tax credits over the past decade. Noticeable spikes occurred in 2017 and 2018, with average credits peaking at approximately $1,925.88 and $4,168.46 per tax return, respectively. These variances suggest changing incentives and perhaps increased adoption of energy-efficient upgrades in those years. Investors, builders, and homeowners might consider these trends when evaluating the potential benefits and savings of energy-efficient investments.
Average Real Estate Taxes Per Tax Return in Rhode Island Over the Last 10 Years
Real estate taxes in Rhode Island have shown a steady uptick over the last decade, rising from around $5,052.38 in 2012 to approximately $6,888.41 in 2021 per tax return. Notably, there's been a sharp increase post-2017, with a significant jump in 2018 and more gradual rises since. This trend could be indicative of rising property values and increased demand, making it a crucial factor for investors and potential homeowners to consider. For insurance agents and real estate appraisers, this suggests a growing market with potentially higher premiums and appraisal values.
Percentage of Farm Returns in Rhode Island Over the Last 10 Years
Farm tax returns in Rhode Island have shown marginal fluctuations over the past decade, hovering around 0.14% to 0.15%, peaking slightly in 2017 at approximately 0.15%. This consistency could indicate a stable agricultural sector, which might be appealing for investors considering long-term rural investments or agribusiness ventures. Individuals looking to move or build property in Rhode Island may also find this stability reassuring, as it suggests a steady contribution of farming to the local economy without significant volatility.
Economic Outlook
In Rhode Island, there's been a notable increase in average taxable income per tax return, rising from approximately $60,119.94 in 2013 to around $85,031.42 in 2021. This upward trend could indicate growing economic prosperity, perhaps making the state more attractive to investors and new residents. However, state and local income taxes have nearly doubled over the last decade, from $6,335.06 in 2012 to $12,667.56 in 2021, potentially impacting disposable income and property values.... Read more
Average Taxable Income per Tax Return in Rhode Island over the last 9 years
Over the past nine years, average taxable income per tax return in Rhode Island has shown a generally upward trend, moving from approximately $60,119.94 in 2013 to around $85,031.42 in 2021. This consistent increase could suggest a growing economic prosperity in the state, potentially making it a more attractive destination for investors and new residents. Real estate agents and property appraisers may find this trend particularly interesting as rising incomes can correlate with higher property values and demand. For insurance agents, understanding this upward shift might be key in adjusting policy recommendations and pricing strategies to better serve the local populace.
Average State and Local Income Taxes Per Tax Return in Rhode Island Over the Last 10 Years
Average state and local income taxes per tax return in Rhode Island have seen a notable upward trend over the last decade, nearly doubling from $6,335.06 in 2012 to $12,667.56 in 2021. Particularly sharp increases were observed from 2017 onward, suggesting a rising tax burden for residents. This could impact decisions for potential investors, property builders, and those considering relocating to or investing in Rhode Island, as higher taxes may affect disposable income and property values.
Average Total Tax Liability Per Tax Return in Rhode Island Over the Last 10 Years
In Rhode Island, the average total tax liability per tax return has demonstrated a notable upward trend over the past decade. Starting at approximately $10,262.28 in 2012, it has seen fluctuations but generally increased, reaching a peak of around $14,790.32 in 2021. This growth suggests a rising economic burden on residents, which may influence investment decisions, real estate valuations, and the cost considerations for new property development. For appraisers and insurance agents, the consistent increase points to a growing fiscal responsibility that could affect risk assessments and premium calculations. Real estate professionals might find this trend indicative of broader economic shifts impacting housing demand and market stability.
Cost of Living in Rhode Island
Safety trends & Data
Property crime rates in Rhode Island have displayed significant fluctuations over the past five years. While crimes like embezzlement and burglary have generally declined—possibly due to better security measures or economic changes—arson and motor vehicle theft haven't seen substantial decreases. The persistently high numbers in fraud and forgery suggest potential systemic vulnerabilities. Understanding these trends is vital for investors, real estate agents, and residents to evaluate... Read more
Property Crime Trends in Rhode Island Over the Last 5 Years
Property crime rates in Rhode Island have seen noticeable fluctuations over the past five years. Embezzlement and burglary, for instance, have shown a trend of overall decline, possibly reflecting enhanced security measures or economic shifts. On the other hand, categories like arson and motor vehicle theft have shown variable patterns but largely not decreased significantly. The persistently high numbers in fraud and forgery are particularly noteworthy, possibly hinting at systemic vulnerabilities. These trends are crucial for potential investors, real estate agents, and current residents to gauge the safety and risk of property investments and to inform insurance premiums.
Demographics
Rhode Island's demographic landscape in 2022 reveals a slightly higher number of females compared to males. Educational attainment shows a considerable portion of the population are high school graduates, but there's also a significant number with bachelor's and graduate degrees, suggesting a well-educated populace. Age distribution data indicates a strong presence in the 25-64 age range, hinting at a robust working-age demographic. Racially, the state is predominantly White, but there is... Read more
Race Distribution in Rhode Island (2022)
Educational Attainment in Rhode Island (2022)
Age Distribution in Rhode Island
Citizen Population in Rhode Island (2022)
Political Trends & Data
In Rhode Island, the 2020 U.S. Presidential Election likely saw a lean towards Democratic candidates, capturing about 59.3% of the vote. Republican candidates probably garnered around 38.7%. Minor parties, including Libertarian, collectively gathered minimal support, roughly 1% each. This trend could suggest Rhode Island's strong preference for Democratic leadership, potentially affecting its political landscape and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Rhode Island, the 2020 U.S. Presidential Election possibly saw a significant lean towards Democratic candidates with approximately 59.3% of the vote, while Republican candidates might have secured around 38.7%. Minor parties like the Libertarian and others collectively gathered minimal support, around 1% each, not making a substantial impact on the overall results. This data could hint at the state's relatively strong preference for Democratic leadership.
38.70% of voters voted for the Republican party in the 2020 Presidential Election
59.30% of voters voted for the Democrat party in the 2020 Presidential Election
0.98% of voters voted for the Libertarian party in the 2020 Presidential Election
1.02% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Rhode Island, the student-to-teacher ratio has dropped from over fifteen students per teacher in 2014 to around thirteen recently, better than the national average of fourteen. This trend could appeal to families, investors in education, and real estate professionals looking to emphasize the state's improving educational environment. Such data might also impact property valuations and local infrastructure considerations for appraisers and insurance... Read more
Student-to-teacher ratio in Rhode Island over the last 10 years
In Rhode Island, the student-to-teacher ratio has gradually declined over the past decade, decreasing from over fifteen students per teacher in 2014 to approximately thirteen in recent years. This trend suggests improved classroom conditions compared to the national average of fourteen students per teacher. Such changes could be beneficial for prospective investors in education, families considering a move, and real estate professionals highlighting the area's improved educational environment. Additionally, appraisers and insurance agents might find this data useful as it can influence property values and local infrastructural needs.
