Cumberland, RI—02864
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cumberland, RI
As of Oct '25, the median home price in Cumberland, RI is $511,000, with a year-over-year change of 4.0%. This indicates that home prices in Cumberland, 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 | $511,000 | 4.0% |
| Single Family | $524,000 | 3.8% |
| Condos | $432,000 | 5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $243,000 | 1.7% |
2 Bed | $421,000 | 2.9% |
3 Bed | $506,000 | 3.7% |
4 Bed | $711,000 | 4.7% |
| 5 Bed | $712,000 | 4.2% |
% of Housing Stock
Rental Trends — Cumberland, RI
As of July '25, Rentcast reports the average rent in Cumberland, RI is $2,290, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in Cumberland, RI is 1-bedrooms: $1,990, 2-bedrooms: $2,390, 3-bedrooms: $2,380, 4-bedrooms: $2,980. The most common rental property sizes in Cumberland, RI are 2-bedroom and 1-bedroom, accounting for 37.1% and 35.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,290 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,100 | $1,990 |
| 2 Bed Rent | $2,440 | $2,390 |
| 3 Bed Rent | $1,850 | $2,380 |
| 4 Bed Rent | $2,800 | $2,980 |
% of Rental Stock
Property Listings — Cumberland, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Cumberland, RI is 28. This is a increase of 31.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $537,000 | 2.0% |
Listing Count | 98 | 32.0% |
| Listings as % of Homes | 0.5% | 32.0% |
Days on Market | 28 | 31.0% |
Demographics — Cumberland, RI
As of the latest ACS Survey released in 2023, Cumberland, RI has a population of 36,400, which has increased by 5.1% over the past 5 years. Cumberland, RI is a moderately popular place for families, as children make up 22.1% of the population. The area has a moderately educated workforce, with 43.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,400 | 5.1% |
% Under 18 | 22.1% | 8.3% |
% Seniors | 17.6% | -1.7% |
% WFH | 11.2% | 273.3% |
% w/ College Degree | 43.1% | 12.8% |
As of the latest ACS Survey released in 2023, Cumberland, RI is a predominantly white area, with 83.3% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Cumberland, RI is hispanic, making up 5.7% of the population. Foreign-born residents account for 10.6% of the population in Cumberland, RI, and this percentage has decreased by 0.9% 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 | 83.3% | -6.8% |
% Black | 3.0% | 172.7% |
% Hispanic | 5.7% | -13.6% |
% Asian | 3.6% | 63.6% |
% Foreign Born | 10.6% | -0.9% |
Mortgage and Risk — Cumberland, RI
According to HUD data as of 2023, there were 808 mortgage originations in Cumberland, RI, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Cumberland, RI. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 808 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Cumberland, RI
As of 2024, the percent of homes in Cumberland, RI under the Section 8 program is 22.2%. 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 Cumberland, 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 | 1,010 |
Total Units Section 8 | 734 |
% Rentals under Section 8 | 22.2% |
% Occupied Section 8 | 82.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$840 | $2,100 | $1,260 |
| 2 Bedroom | -$910 | $2,440 | $1,530 |
| 3 Bedroom | $0 | $1,850 | $1,850 |
| 4 Bedroom | -$510 | $2,800 | $2,290 |
Affordability — Cumberland, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $511,000 |
| Median Household Income | $119,000 |