Block Island—02807
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Block Island
As of Sept '25, the median home price in Block Island is $1,872,000, with a year-over-year change of 14.1%. This indicates that home prices in Block Island are increasing. According to Zillow, the 1-year price projection is 4.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,872,000 | 14.1% |
| Single Family | $1,969,000 | 12.7% |
| Condos | $1,054,000 | 15.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $1,268,000 | 11.2% |
3 Bed | $1,778,000 | 13.4% |
4 Bed | $2,165,000 | 13.9% |
| 5 Bed | $2,701,000 | 15.1% |
% of Housing Stock
Rental Trends — Block Island
Block Island lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Block Island
As of Sept '25, Realtor.com reports that the median days on market for a home in Block Island is 116. This is a increase of 22.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $3,500,000 | -1.0% |
Listing Count | 24 | -17.0% |
| Listings as % of Homes | 1.1% | -17.0% |
Days on Market | 116 | 22.0% |
Demographics — Block Island
As of the latest ACS Survey released in 2023, Block Island has a population of 829, which has remained stable by 0.2% over the past 5 years. Block Island is a less popular place for families, as children make up 10.6% of the population. The area has a highly educated workforce, with 51.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 829 | 0.2% |
% Under 18 | 10.6% | -38.7% |
% Seniors | 35.7% | 33.7% |
% WFH | 5.9% | -60.1% |
% w/ College Degree | 51.3% | 12.7% |
As of the latest ACS Survey released in 2023, Block Island is a predominantly white area, with 97.3% of the population identifying as white. The white population has grown by 3.4% in the last 5 years. The second most common race or ethnicity in Block Island is black, making up 1.6% of the population. Foreign-born residents account for 2.4% of the population in Block Island, and this percentage has decreased by 46.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 97.3% | 3.4% |
% Black | 1.6% | ∞% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.4% | -46.7% |
Mortgage and Risk — Block Island
According to HUD data as of 2023, there were 39 mortgage originations in Block Island, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 39.0%, with 3.0% above 90% LTV (normal). This implies small mortgage risk in Block Island. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 39 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 56.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Block Island
Block Island lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,290 |
| 2 Bedroom | N/A | N/A | $1,570 |
| 3 Bedroom | N/A | N/A | $1,960 |
| 4 Bedroom | N/A | N/A | $2,460 |
Affordability — Block Island
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 20 |
| Median Home Price | $1,872,000 |
| Median Household Income | $72,400 |