Portsmouth, RI—02871
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Portsmouth, RI
As of Oct '25, the median home price in Portsmouth, RI is $666,000, with a year-over-year change of 3.6%. This indicates that home prices in Portsmouth, RI are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $666,000 | 3.7% |
| Single Family | $665,000 | 3.4% |
| Condos | $672,000 | 4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $380,000 | 1.1% |
2 Bed | $526,000 | 2.7% |
3 Bed | $650,000 | 3.5% |
4 Bed | $971,000 | 4.5% |
| 5 Bed | $1,518,000 | 6.5% |
% of Housing Stock
Rental Trends — Portsmouth, RI
As of July '25, Rentcast reports the average rent in Portsmouth, RI is $3,590, with a year-over-year rent change of -7.5%. Per bedroom, the median rent as of July '25 in Portsmouth, RI is studios: $1,950, 1-bedrooms: $5,050, 2-bedrooms: $2,810, 3-bedrooms: $3,750, 4-bedrooms: $6,000. The most common rental property sizes in Portsmouth, RI are 2-bedroom and 3-bedroom, accounting for 44.8% and 30.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,400 | $3,590 |
| Studio Rent | $1,950 | $1,950 |
| 1 Bed Rent | $2,100 | $5,050 |
| 2 Bed Rent | $2,650 | $2,810 |
| 3 Bed Rent | $3,600 | $3,750 |
| 4 Bed Rent | $6,000 | $6,000 |
% of Rental Stock
Property Listings — Portsmouth, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Portsmouth, RI is 43. This is a decrease of -17.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,010,000 | 8.0% |
Listing Count | 90 | 5.0% |
| Listings as % of Homes | 1.1% | 5.0% |
Days on Market | 43 | -17.0% |
Demographics — Portsmouth, RI
As of the latest ACS Survey released in 2023, Portsmouth, RI has a population of 17,600, which has increased by 2.9% over the past 5 years. Portsmouth, RI is a moderately popular place for families, as children make up 19.5% of the population. The area has a highly educated workforce, with 59.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,600 | 2.9% |
% Under 18 | 19.5% | -8.0% |
% Seniors | 24.2% | 12.0% |
% WFH | 14.6% | 294.6% |
% w/ College Degree | 59.6% | 16.9% |
As of the latest ACS Survey released in 2023, Portsmouth, RI is a predominantly white area, with 88.0% of the population identifying as white. The white population has shrunk by 4.3% in the last 5 years. The second most common race or ethnicity in Portsmouth, RI is hispanic, making up 6.5% of the population. Foreign-born residents account for 6.1% of the population in Portsmouth, RI, and this percentage has increased by 22.0% 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 | 88.0% | -4.3% |
% Black | 0.9% | -47.1% |
% Hispanic | 6.5% | 91.2% |
% Asian | 1.1% | -8.3% |
% Foreign Born | 6.1% | 22.0% |
Mortgage and Risk — Portsmouth, RI
According to HUD data as of 2023, there were 397 mortgage originations in Portsmouth, RI, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 44.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Portsmouth, RI. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 397 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Portsmouth, RI
As of 2024, the percent of homes in Portsmouth, RI under the Section 8 program is 13.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Portsmouth, 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 | 220 |
Total Units Section 8 | 187 |
% Rentals under Section 8 | 13.1% |
% Occupied Section 8 | 87.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $2,100 | $1,840 |
| 2 Bedroom | -$240 | $2,650 | $2,410 |
| 3 Bedroom | -$380 | $3,600 | $3,220 |
| 4 Bedroom | -$2,350 | $6,000 | $3,650 |
Affordability — Portsmouth, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $666,000 |
| Median Household Income | $119,000 |