Providence County Real Estate and Livability Trends
Providence County, Rhode Island's real estate market has seen notable shifts, with median home values rising from $211,200 in 2015 to $310,500 in 2022, showcasing a potentially attractive landscape for buyers and investors seeking more affordable opportunities in a growing market. Despite this growth, real estate taxes have steadily increased, from $4,615.41 in 2012 to $5,962.34 in 2021, hinting... Read more
Providence County Market Trends
Providence County, Rhode Island, has experienced a notable increase in median home values from $211,200 in 2015 to $310,500 in 2022, outpacing national trends. This growth, although still below the state average, might indicate potential opportunities for buyers and investors searching for more affordable properties in a booming market. Meanwhile, the average residential energy tax credit per tax... Read more
Median Value of Occupied Housing Units in Providence County, Rhode Island Over the Last 8 Years
Providence County, Rhode Island, has seen a steady increase in median home values over the last eight years, climbing from $211,200 in 2015 to $310,500 in 2022. This growth is notably higher than the national trend, where median values rose from $125,500 to $179,400 over the same period. While Rhode Island as a whole has also experienced growth, increasing from $238,000 in 2015 to $343,100 in 2022, Providence County's values remain slightly below the state average. This could indicate potential opportunities for homebuyers and investors seeking more affordable options within a growing market.
Residential Energy Tax Credit Per Tax Return in Providence County, RI Over the Last 9 Years
Over the past nine years, Providence County, Rhode Island has seen a fluctuating but generally upward trend in the average residential energy tax credit per tax return. Starting at $273.55 in 2013, it skyrocketed to $3,801.52 by 2018, then dipped to $1,508.12 in 2019 and $1,190.43 in 2020, before rising again to $1,606.21 in 2021. This volatility may signal significant shifts in homeowner investments in energy-efficient upgrades. Understanding these trends can be crucial for investors, appraisers, and real estate agents when analyzing the long-term feasibility and financial benefits of energy-efficient home improvements in the area.
Average Real Estate Taxes Per Tax Return in Providence County, RI Over the Last 10 Years
Average real estate taxes per tax return in Providence County, Rhode Island have incrementally increased over the last decade, starting from $4,615.41 in 2012 to $5,962.34 in 2021. Significant jumps, particularly noted between 2017 and 2018 with a $741.71 rise, could imply changes in local fiscal policies or property value assessments. For anyone looking to invest, move to, or build property in the area, these steadily rising taxes might suggest a growing demand and possibly higher property values. Real estate agents, appraisers, and insurance agents should consider this trend as a potential indicator of the county's economic vitality and housing market trajectory.
Percentage of Farm Returns in Providence County, RI Over the Last 10 Years
Farm tax returns in Providence County, Rhode Island, have fluctuated over the past decade. There's a general trend of slight decline, starting at approximately 0.09% in 2012 and dipping to around 0.08% in 2020 before slightly increasing again in 2021. Although these percentages remain low, this can signal important insights for investors and residents; it suggests limited agricultural activity which could influence property development, investment opportunities, or even local food sourcing. Understanding these trends is crucial for anyone considering a move or investment in the area, as they can impact everything from property values to community amenities.
Number of Mortgages by Occupancy Type in Providence County, RI Over the Last 5 Years in Providence County
Investment properties in Providence County, Rhode Island, have seen fluctuating numbers, peaking in 2021 with 3,251 mortgages but experiencing a noticeable decline to 2,414 by 2022. Principal residences have consistently dominated the market, with a high of 45,773 mortgages in 2021 but dropping to 28,831 in 2022, which could indicate shifting market conditions or rising prices affecting affordability. Second residences have remained relatively stable, though their mortgage numbers are consistently much lower, hovering around 250-321 per year. Changes in occupancy type matter because they offer insight into local economic health, demographic trends, and housing market conditions, influencing investment decisions, lending risks, and policy making. Understanding these trends can help real estate professionals, investors, and residents gauge market stability and predict future property values.
Economic Outlook
Providence County, Rhode Island has shown a significant rise in average taxable income per tax return, peaking at $70,352.52 in 2021, up from $51,741.54 in 2013. This could point towards economic improvement and greater earning potential. Meanwhile, average state and local income taxes per tax return have also surged, reaching $10,365.50 in 2021 from around $5,550.04 in 2012, which may impact the cost of living. The steady climb in average total tax liability per tax return, from $8,366.53 in... Read more
Average Taxable Income per Tax Return in Providence County, RI over the last 9 years
Providence County, Rhode Island has seen an upward trend in average taxable income per tax return over the past nine years, with a noticeable peak in 2021 at $70,352.52. This gradual increase from $51,741.54 in 2013 could indicate economic improvement and higher earning potential in the region. For those considering investment, property development, or relocation to Providence County, this data suggests a potentially growing and prospering community.
Average State and Local Income Taxes Per Tax Return in Providence County, RI Over the Last 10 Years
Over the past decade, Providence County, Rhode Island, has seen a notable rise in average state and local income taxes per tax return, increasing from approximately $5,550.04 in 2012 to about $10,365.50 in 2021. A significant jump occurred between 2017 and 2018, reaching over $8,700 and continuing to climb thereafter. This trend could indicate growing incomes or increased tax rates in the county, which may affect decisions for investors, potential movers, and real estate agents by influencing the overall cost of living and doing business.
Average Total Tax Liability Per Tax Return in Providence County, RI Over the Last 10 Years
Providence County, Rhode Island has experienced an upward trend in average total tax liability per tax return over the past decade, starting from $8,366.53 in 2012 and reaching $11,005.61 in 2021. Notable upticks occurred during 2015 and 2017, with another significant jump in 2020. This steady increase could signal a growing economy or changing tax policies, making it relevant for potential investors, real estate agents, and those considering relocating to the county.
Cost of Living in Providence County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,644 | $1,677 | $1,483 | $1,828 | $1,372 |
| 1 adult 4 children | $1,644 | $1,369 | $1,138 | $1,828 | $1,539 |
| 2 adults 3 children | $1,644 | $1,370 | $1,285 | $1,828 | $1,155 |
| 1 adult 3 children | $1,644 | $1,118 | $940 | $1,828 | $1,286 |
| 2 adults 2 children | $1,351 | $1,121 | $1,086 | $1,632 | $937 |
| 1 adult 2 children | $1,351 | $838 | $741 | $1,632 | $983 |
| 2 adults 1 child | $1,351 | $886 | $888 | $993 | $874 |
| 1 adult 1 child | $1,351 | $573 | $543 | $993 | $786 |
| 2 adults | $1,122 | $712 | $690 | $0 | $658 |
| 1 adult | $1,022 | $388 | $345 | $0 | $569 |
Safety trends & Data
Property crime trends in Providence County, Rhode Island over the past five years show a decline in larceny-theft from 1,195 cases in 2018 to 648 cases by 2022. Meanwhile, vandalism has remained relatively stable, fluctuating between 471 and 580 cases yearly, indicating ongoing concerns for property owners. Motor vehicle thefts saw a modest rise from 114 in 2018 to 128 in 2021, with a slight decrease to 123 in 2022. Additionally, slight upticks in fraud and embezzlement might suggest rising... Read more
Property Crime Trends in Providence County, RI Over the Last 5 Years
Property crime trends in Providence County, Rhode Island over the last five years reveal a nuanced landscape for potential investors and residents. The most significant changes can be observed in the categories of burglary, larceny-theft, and vandalism. Notably, there was a marked decline in larceny-theft, which peaked at 1,195 cases in 2018 and dropped to 648 cases by 2022. Vandalism figures remained relatively high, fluctuating between 471 and 580 cases yearly, suggesting persistent concerns for property owners. The numbers for motor vehicle thefts saw a modest increase, jumping from 114 in 2018 to 128 in 2021, before a slight decrease to 123 in 2022. Slight upticks in fraud and embezzlement might indicate rising economic crimes, which could be critical for insurance and real estate professionals to monitor.
Demographics
Providence County, Rhode Island, shows a higher female population compared to male. With respect to educational attainment, there seems to be a significant portion of residents with only a high school education, though a fairly sizeable number hold bachelor’s and advanced degrees as well. Age-wise, the county has a notably large young adult population aged 25 to 34, which might hint at an active workforce demographic. Racially, the county is predominantly white, but there is also notable... Read more
Race Distribution in Providence County, Rhode Island (2022)
Educational Attainment in Providence County, Rhode Island (2022)
Age Distribution in Providence County, Rhode Island
Citizen Population in Providence County, Rhode Island (2022)
Political Trends & Data
Providence County, Rhode Island, displayed a strong Democratic preference in the 2020 U.S. Presidential Election, with about 60% of the vote going blue. Republican support was notably lower at around 37%, and third-party candidates barely made a dent, each receiving roughly 1%. These voting patterns suggest a progressive inclination that may influence local policy and development trends, potentially making the area more appealing to like-minded buyers and... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
In Providence County, Rhode Island, voting patterns from the 2020 U.S. Presidential Election suggest a strong Democratic preference, with around 60% of the vote. Republican support trails significantly, making up roughly 37%, while Libertarian and other minor party votes barely register, each hovering around 1%. This data might hint at the county's progressive leanings and could be pivotal in shaping future political strategies.
37.61% of voters voted for the Republican party in the 2020 Presidential Election
60.52% of voters voted for the Democrat party in the 2020 Presidential Election
0.84% of voters voted for the Livertarian party in the 2020 Presidential Election
1.03% of voters voted for the Other party in the 2020 Presidential Election
School Data
Providence County, Rhode Island has witnessed a gradual decrease in its student-to-teacher ratio over the past decade, peaking at around 16 in 2015 and now sitting at about 13, slightly under the national average of 14. This trend could signal an improvement in education quality due to smaller class sizes, enhancing the area's appeal to families and educational professionals. Lower ratios may also influence property values and neighborhood desirability, impacting decisions for investors, real... Read more
Student-to-teacher ratio in Providence County, Rhode Island over the last 10 years
Providence County, Rhode Island has seen its student-to-teacher ratio generally decrease over the past decade, hitting a high of roughly 16 in 2015 before dropping to about 13 in recent years. The current ratio is slightly below the national average of 14 students per teacher. This shift could indicate an improvement in education quality due to smaller class sizes, making the area potentially more attractive for families and educational professionals. Lower ratios may also influence property values and neighborhood desirability, impacting decisions for investors, real estate agents, and appraisers who monitor educational infrastructure as a key factor in community development.
