Woonsocket, RI—02895
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Woonsocket, RI
As of Oct '25, the median home price in Woonsocket, RI is $378,000, with a year-over-year change of 1.2%. This indicates that home prices in Woonsocket, 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 | $378,000 | 1.2% |
| Single Family | $387,000 | 0.3% |
| Condos | $273,000 | 4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $249,000 | 2.9% |
2 Bed | $327,000 | 0.6% |
3 Bed | $396,000 | 0.8% |
4 Bed | $413,000 | 1.0% |
| 5 Bed | $478,000 | 1.9% |
% of Housing Stock
Rental Trends — Woonsocket, RI
As of July '25, Rentcast reports the average rent in Woonsocket, RI is $1,660, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Woonsocket, RI is studios: $1,100, 1-bedrooms: $1,510, 2-bedrooms: $1,630, 3-bedrooms: $1,900, 4-bedrooms: $2,170. The most common rental property sizes in Woonsocket, RI are 2-bedroom and 1-bedroom, accounting for 40.9% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,580 | $1,660 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $1,550 | $1,510 |
| 2 Bed Rent | $1,580 | $1,630 |
| 3 Bed Rent | $1,800 | $1,900 |
| 4 Bed Rent | $2,200 | $2,170 |
% of Rental Stock
Property Listings — Woonsocket, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Woonsocket, RI is 42. This is a increase of 24.0% 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 40.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $397,000 | 0.0% |
Listing Count | 81 | 31.0% |
| Listings as % of Homes | 0.3% | 31.0% |
Days on Market | 42 | 24.0% |
Demographics — Woonsocket, RI
As of the latest ACS Survey released in 2023, Woonsocket, RI has a population of 43,100, which has increased by 3.7% over the past 5 years. Woonsocket, RI is a moderately popular place for families, as children make up 23.2% of the population. The area has a poorly educated workforce, with 18.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,100 | 3.7% |
% Under 18 | 23.2% | 6.4% |
% Seniors | 14.1% | 2.9% |
% WFH | 4.5% | 73.1% |
% w/ College Degree | 18.6% | 11.4% |
As of the latest ACS Survey released in 2023, Woonsocket, RI is a predominantly white area, with 53.8% of the population identifying as white. The white population has shrunk by 16.1% in the last 5 years. The second most common race or ethnicity in Woonsocket, RI is hispanic, making up 25.8% of the population. Foreign-born residents account for 15.0% of the population in Woonsocket, 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 | 53.8% | -16.1% |
% Black | 7.4% | -19.6% |
% Hispanic | 25.8% | 38.7% |
% Asian | 6.9% | 15.0% |
% Foreign Born | 15.0% | 22.0% |
Mortgage and Risk — Woonsocket, RI
According to HUD data as of 2023, there were 548 mortgage originations in Woonsocket, RI, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Woonsocket, RI. Investor activity is low, as 4.0% 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 | 548 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Woonsocket, RI
As of 2024, the percent of homes in Woonsocket, RI under the Section 8 program is 18.7%. 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. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Woonsocket, RI, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3,194 |
Total Units Section 8 | 1,928 |
% Rentals under Section 8 | 18.7% |
% Occupied Section 8 | 86.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $1,550 | $1,260 |
| 2 Bedroom | -$50 | $1,580 | $1,530 |
| 3 Bedroom | $50 | $1,800 | $1,850 |
| 4 Bedroom | $90 | $2,200 | $2,290 |
Affordability — Woonsocket, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $378,000 |
| Median Household Income | $58,600 |