North Smithfield, RI—02896
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — North Smithfield, RI
As of Oct '25, the median home price in North Smithfield, RI is $508,000, with a year-over-year change of 1.4%. This indicates that home prices in North Smithfield, 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 | $508,000 | 1.4% |
| Single Family | $516,000 | 0.8% |
| Condos | $464,000 | 3.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $403,000 | 1.5% |
2 Bed | $442,000 | 1.8% |
3 Bed | $514,000 | 0.8% |
4 Bed | $608,000 | 0.7% |
| 5 Bed | $640,000 | 1.1% |
% of Housing Stock
Rental Trends — North Smithfield, RI
As of July '25, Rentcast reports the average rent in North Smithfield, RI is $3,250, with a year-over-year rent change of 47.1%. Per bedroom, the median rent as of July '25 in North Smithfield, RI is 2-bedrooms: $3,000, 4-bedrooms: $3,500. The most common rental property sizes in North Smithfield, RI are 1-bedroom and 2-bedroom, accounting for 38.1% and 31.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,250 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $3,000 | $3,000 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $3,500 | $3,500 |
% of Rental Stock
Property Listings — North Smithfield, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in North Smithfield, RI is 36. This is a increase of 17.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $450,000 | -17.0% |
Listing Count | 56 | 54.0% |
| Listings as % of Homes | 0.4% | 54.0% |
Days on Market | 36 | 17.0% |
Demographics — North Smithfield, RI
As of the latest ACS Survey released in 2023, North Smithfield, RI has a population of 11,700, which has decreased by -3.1% over the past 5 years. North Smithfield, RI is a moderately popular place for families, as children make up 19.1% of the population. The area has a moderately educated workforce, with 34.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,700 | -3.1% |
% Under 18 | 19.1% | 0.0% |
% Seniors | 19.4% | -7.6% |
% WFH | 17.4% | 135.1% |
% w/ College Degree | 34.5% | 6.2% |
As of the latest ACS Survey released in 2023, North Smithfield, RI is a predominantly white area, with 94.0% of the population identifying as white. The white population has grown by 1.5% in the last 5 years. The second most common race or ethnicity in North Smithfield, RI is hispanic, making up 2.8% of the population. Foreign-born residents account for 3.8% of the population in North Smithfield, RI, and this percentage has decreased by 32.1% 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 | 94.0% | 1.5% |
% Black | 0.4% | -85.7% |
% Hispanic | 2.8% | -44.0% |
% Asian | 0.7% | -22.2% |
% Foreign Born | 3.8% | -32.1% |
Mortgage and Risk — North Smithfield, RI
According to HUD data as of 2023, there were 299 mortgage originations in North Smithfield, RI, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in North Smithfield, RI. Investor activity is low, as 0.0% 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 | 299 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — North Smithfield, RI
North Smithfield, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 173 |
Total Units Section 8 | 120 |
% Rentals under Section 8 | 13.6% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,320 |
| 2 Bedroom | -$1,400 | $3,000 | $1,600 |
| 3 Bedroom | N/A | N/A | $1,930 |
| 4 Bedroom | -$1,110 | $3,500 | $2,390 |
Affordability — North Smithfield, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $508,000 |
| Median Household Income | $109,000 |