Central Falls, RI—02863
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Central Falls, RI
As of Oct '25, the median home price in Central Falls, RI is $373,000, with a year-over-year change of 1.8%. This indicates that home prices in Central Falls, RI are increasing. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $373,000 | 1.8% |
| Single Family | $385,000 | 1.9% |
| Condos | $305,000 | 4.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $331,000 | -0.9% |
3 Bed | $364,000 | 1.7% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Central Falls, RI
As of July '25, Rentcast reports the average rent in Central Falls, RI is $1,630, with a year-over-year rent change of 10.1%. Per bedroom, the median rent as of July '25 in Central Falls, RI is 1-bedrooms: $1,390, 2-bedrooms: $1,660, 3-bedrooms: $2,150. The most common rental property sizes in Central Falls, RI are 2-bedroom and 3-bedroom, accounting for 36.7% and 36.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,630 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,390 |
| 2 Bed Rent | $1,550 | $1,660 |
| 3 Bed Rent | $2,100 | $2,150 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Central Falls, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Central Falls, RI is 11. This is a decrease of -71.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $396,000 | 4.0% |
Listing Count | 7 | -16.0% |
| Listings as % of Homes | 0.1% | -16.0% |
Days on Market | 11 | -71.0% |
Demographics — Central Falls, RI
As of the latest ACS Survey released in 2023, Central Falls, RI has a population of 22,500, which has increased by 16.2% over the past 5 years. Central Falls, RI is a popular place for families, as children make up 26.9% of the population. The area has a poorly educated workforce, with 11.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,500 | 16.2% |
% Under 18 | 26.9% | -5.3% |
% Seniors | 9.1% | 28.2% |
% WFH | 4.6% | 360.0% |
% w/ College Degree | 11.5% | 43.8% |
As of the latest ACS Survey released in 2023, Central Falls, RI is a predominantly hispanic area, with 69.3% of the population identifying as hispanic. The hispanic population has grown by 5.5% in the last 5 years. The second most common race or ethnicity in Central Falls, RI is white, making up 16.1% of the population. Foreign-born residents account for 40.2% of the population in Central Falls, RI, and this percentage has increased by 5.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 16.1% | -22.6% |
% Black | 9.4% | -32.4% |
% Hispanic | 69.3% | 5.5% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 40.2% | 5.5% |
Mortgage and Risk — Central Falls, RI
According to HUD data as of 2023, there were 126 mortgage originations in Central Falls, RI, of which 63.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 37.0% above 90% LTV (very high). This implies large mortgage risk in Central Falls, RI. Investor activity is low, as 6.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 126 |
% Conventional Loans | 63.0% |
% Government Loans | 37.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Central Falls, RI
Central Falls, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,285 |
Total Units Section 8 | 948 |
% Rentals under Section 8 | 17.8% |
% Occupied Section 8 | 91.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $1,400 | $1,260 |
| 2 Bedroom | -$20 | $1,550 | $1,530 |
| 3 Bedroom | -$250 | $2,100 | $1,850 |
| 4 Bedroom | N/A | N/A | $2,290 |
Affordability — Central Falls, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.8 |
| Median Home Price | $373,000 |
| Median Household Income | $45,900 |