Coventry, RI—02816
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Coventry, RI
Home Price Trends — Coventry, RI
As of Oct '25, the median home price in Coventry, RI is $438,000, with a year-over-year change of 2.8%. This indicates that home prices in Coventry, RI are increasing. According to Zillow, the 1-year price projection is 2.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $438,000 | 2.8% |
| Single Family | $442,000 | 2.3% |
| Condos | $405,000 | 4.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $319,000 | 2.2% |
2 Bed | $370,000 | 2.8% |
3 Bed | $449,000 | 2.5% |
4 Bed | $568,000 | 2.5% |
| 5 Bed | $533,000 | 1.3% |
% of Housing Stock
Rental Trends — Coventry, RI
As of July '25, Rentcast reports the average rent in Coventry, RI is $2,240, with a year-over-year rent change of -37.1%. Per bedroom, the median rent as of July '25 in Coventry, RI is studios: $2,010, 1-bedrooms: $1,800, 2-bedrooms: $2,030, 3-bedrooms: $3,040, 4-bedrooms: $3,500. The most common rental property sizes in Coventry, RI are 2-bedroom and 1-bedroom, accounting for 40.9% and 37.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,140 | $2,240 |
| Studio Rent | $1,980 | $2,010 |
| 1 Bed Rent | $1,690 | $1,800 |
| 2 Bed Rent | $2,160 | $2,030 |
| 3 Bed Rent | $3,000 | $3,040 |
| 4 Bed Rent | $3,500 | $3,500 |
% of Rental Stock
Property Listings — Coventry, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Coventry, RI is 37. This is a increase of 2.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $589,000 | 8.0% |
Listing Count | 130 | 12.0% |
| Listings as % of Homes | 0.6% | 12.0% |
Days on Market | 37 | 2.0% |
Demographics — Coventry, RI
As of the latest ACS Survey released in 2023, Coventry, RI has a population of 33,200, which has increased by 1.3% over the past 5 years. Coventry, RI is a moderately popular place for families, as children make up 18.1% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 33,200 | 1.3% |
% Under 18 | 18.1% | -6.2% |
% Seniors | 18.9% | 12.5% |
% WFH | 9.7% | 273.1% |
% w/ College Degree | 32.2% | 18.8% |
As of the latest ACS Survey released in 2023, Coventry, RI is a predominantly white area, with 89.8% of the population identifying as white. The white population has shrunk by 4.2% in the last 5 years. The second most common race or ethnicity in Coventry, RI is hispanic, making up 4.8% of the population. Foreign-born residents account for 3.4% of the population in Coventry, RI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.8% | -4.2% |
% Black | 0.2% | -81.8% |
% Hispanic | 4.8% | 118.2% |
% Asian | 1.1% | -8.3% |
% Foreign Born | 3.4% | 0.0% |
Mortgage and Risk — Coventry, RI
According to HUD data as of 2023, there were 771 mortgage originations in Coventry, RI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Coventry, RI. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 771 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Coventry, RI
As of 2024, the percent of homes in Coventry, RI under the Section 8 program is 22.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Coventry, RI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 858 |
Total Units Section 8 | 629 |
% Rentals under Section 8 | 22.7% |
% Occupied Section 8 | 97.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$330 | $1,690 | $1,360 |
| 2 Bedroom | -$500 | $2,160 | $1,660 |
| 3 Bedroom | -$1,000 | $3,000 | $2,000 |
| 4 Bedroom | -$1,070 | $3,500 | $2,430 |
Affordability — Coventry, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $438,000 |
| Median Household Income | $97,900 |