Cranston, RI—02910
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cranston, RI
As of Oct '25, the median home price in Cranston, RI is $379,000, with a year-over-year change of 0.8%. This indicates that home prices in Cranston, RI are flat. 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 | $379,000 | 0.8% |
| Single Family | $380,000 | 0.0% |
| Condos | $258,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $364,000 | 2.2% |
3 Bed | $404,000 | 2.8% |
4 Bed | $426,000 | 3.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Cranston, RI
As of July '25, Rentcast reports the average rent in Cranston, RI is $2,110, with a year-over-year rent change of 9.9%. Per bedroom, the median rent as of July '25 in Cranston, RI is 1-bedrooms: $1,890, 2-bedrooms: $1,950, 3-bedrooms: $2,590. The most common rental property sizes in Cranston, RI are 2-bedroom and 1-bedroom, accounting for 48.5% and 26.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,940 | $2,110 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,880 | $1,890 |
| 2 Bed Rent | $1,900 | $1,950 |
| 3 Bed Rent | $2,600 | $2,590 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Cranston, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Cranston, RI is 29. This is a decrease of -1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $417,000 | 7.0% |
Listing Count | 47 | -1.0% |
| Listings as % of Homes | 0.4% | -1.0% |
Days on Market | 29 | -1.0% |
Demographics — Cranston, RI
As of the latest ACS Survey released in 2023, Cranston, RI has a population of 23,400, which has increased by 5.7% over the past 5 years. Cranston, RI is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 29.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 23,400 | 5.7% |
% Under 18 | 20.4% | -8.1% |
% Seniors | 13.7% | 2.2% |
% WFH | 7.9% | 229.2% |
% w/ College Degree | 29.9% | 21.5% |
As of the latest ACS Survey released in 2023, Cranston, RI is a predominantly white area, with 59.5% of the population identifying as white. The white population has shrunk by 9.6% in the last 5 years. The second most common race or ethnicity in Cranston, RI is hispanic, making up 22.2% of the population. Foreign-born residents account for 17.2% of the population in Cranston, RI, and this percentage has increased by 4.2% 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 | 59.5% | -9.6% |
% Black | 5.0% | -24.2% |
% Hispanic | 22.2% | 14.4% |
% Asian | 8.3% | 16.9% |
% Foreign Born | 17.2% | 4.2% |
Mortgage and Risk — Cranston, RI
According to HUD data as of 2023, there were 475 mortgage originations in Cranston, RI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Cranston, RI. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 475 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Cranston, RI
Cranston, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 214 |
Total Units Section 8 | 131 |
% Rentals under Section 8 | 4.6% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$510 | $1,880 | $1,370 |
| 2 Bedroom | -$220 | $1,900 | $1,680 |
| 3 Bedroom | -$580 | $2,600 | $2,020 |
| 4 Bedroom | N/A | N/A | $2,460 |
Affordability — Cranston, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $379,000 |
| Median Household Income | $85,900 |