Smithfield, RI—02917
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Smithfield, RI
Home Price Trends — Smithfield, RI
As of Oct '25, the median home price in Smithfield, RI is $500,000, with a year-over-year change of 2.9%. This indicates that home prices in 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 | $500,000 | 2.9% |
| Single Family | $519,000 | 2.4% |
| Condos | $439,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $273,000 | 0.7% |
2 Bed | $437,000 | 3.1% |
3 Bed | $516,000 | 2.4% |
4 Bed | $670,000 | 2.1% |
| 5 Bed | $657,000 | 2.2% |
% of Housing Stock
Rental Trends — Smithfield, RI
As of July '25, Rentcast reports the average rent in Smithfield, RI is $2,260, with a year-over-year rent change of -8.1%. Per bedroom, the median rent as of July '25 in Smithfield, RI is 1-bedrooms: $1,420, 2-bedrooms: $2,370, 3-bedrooms: $3,500. The most common rental property sizes in Smithfield, RI are 1-bedroom and 2-bedroom, accounting for 53.5% and 19.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,260 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,420 |
| 2 Bed Rent | $2,100 | $2,370 |
| 3 Bed Rent | $3,500 | $3,500 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Smithfield, RI
As of Oct '25, Realtor.com reports that the median days on market for a home in Smithfield, RI is 28. 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $585,000 | 9.0% |
Listing Count | 53 | 18.0% |
| Listings as % of Homes | 0.5% | 18.0% |
Days on Market | 28 | 24.0% |
Demographics — Smithfield, RI
As of the latest ACS Survey released in 2023, Smithfield, RI has a population of 15,100, which has increased by 9.2% over the past 5 years. Smithfield, RI is a moderately popular place for families, as children make up 16.5% of the population. The area has a moderately educated workforce, with 38.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,100 | 9.2% |
% Under 18 | 16.5% | 17.9% |
% Seniors | 17.1% | -8.6% |
% WFH | 15.5% | 355.9% |
% w/ College Degree | 38.2% | 0.0% |
As of the latest ACS Survey released in 2023, Smithfield, RI is a predominantly white area, with 88.5% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Smithfield, RI is hispanic, making up 5.3% of the population. Foreign-born residents account for 5.6% of the population in Smithfield, RI, and this percentage has increased by 21.7% 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 | 88.5% | -1.3% |
% Black | 1.7% | 6.2% |
% Hispanic | 5.3% | 103.8% |
% Asian | 3.4% | -15.0% |
% Foreign Born | 5.6% | 21.7% |
Mortgage and Risk — Smithfield, RI
According to HUD data as of 2023, there were 319 mortgage originations in Smithfield, RI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Smithfield, RI. Investor activity is low, as 2.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 319 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Smithfield, RI
Smithfield, RI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 247 |
Total Units Section 8 | 247 |
% Rentals under Section 8 | 23.1% |
% Occupied Section 8 | 88.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$40 | $1,300 | $1,260 |
| 2 Bedroom | -$570 | $2,100 | $1,530 |
| 3 Bedroom | -$1,650 | $3,500 | $1,850 |
| 4 Bedroom | N/A | N/A | $2,290 |
Affordability — Smithfield, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $500,000 |
| Median Household Income | $107,000 |