Cranston, RI—02920
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 $428,000, with a year-over-year change of 2.0%. This indicates that home prices in Cranston, 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 | $428,000 | 2.0% |
| Single Family | $434,000 | 1.6% |
| Condos | $323,000 | 3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $274,000 | 4.2% |
2 Bed | $383,000 | 1.9% |
3 Bed | $452,000 | 2.5% |
4 Bed | $505,000 | 2.9% |
| 5 Bed | $540,000 | 3.1% |
% of Housing Stock
Rental Trends — Cranston, RI
As of July '25, Rentcast reports the average rent in Cranston, RI is $2,190, with a year-over-year rent change of 0.9%. Per bedroom, the median rent as of July '25 in Cranston, RI is 1-bedrooms: $2,020, 2-bedrooms: $2,260, 3-bedrooms: $2,750. The most common rental property sizes in Cranston, RI are 1-bedroom and 2-bedroom, accounting for 41.0% and 35.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,120 | $2,190 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,100 | $2,020 |
| 2 Bed Rent | $2,200 | $2,260 |
| 3 Bed Rent | $2,850 | $2,750 |
| 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 35. This is a increase of 21.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $457,000 | 7.0% |
Listing Count | 84 | 6.0% |
| Listings as % of Homes | 0.4% | 6.0% |
Days on Market | 35 | 21.0% |
Demographics — Cranston, RI
As of the latest ACS Survey released in 2023, Cranston, RI has a population of 36,300, which has decreased by -2.3% over the past 5 years. Cranston, RI is a moderately popular place for families, as children make up 19.8% of the population. The area has a moderately educated workforce, with 32.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 36,300 | -2.3% |
% Under 18 | 19.8% | 8.8% |
% Seniors | 18.8% | -4.6% |
% WFH | 11.8% | 372.0% |
% w/ College Degree | 32.2% | 25.8% |
As of the latest ACS Survey released in 2023, Cranston, RI is a predominantly white area, with 64.9% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in Cranston, RI is hispanic, making up 18.2% of the population. Foreign-born residents account for 16.4% of the population in Cranston, RI, and this percentage has increased by 6.5% 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 | 64.9% | -5.3% |
% Black | 7.7% | 16.7% |
% Hispanic | 18.2% | 18.2% |
% Asian | 6.8% | 1.5% |
% Foreign Born | 16.4% | 6.5% |
Mortgage and Risk — Cranston, RI
According to HUD data as of 2023, there were 738 mortgage originations in Cranston, RI, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 20.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 738 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
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 | 1,180 |
Total Units Section 8 | 675 |
% Rentals under Section 8 | 13.0% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$650 | $2,100 | $1,450 |
| 2 Bedroom | -$430 | $2,200 | $1,770 |
| 3 Bedroom | -$720 | $2,850 | $2,130 |
| 4 Bedroom | N/A | N/A | $2,590 |
Affordability — Cranston, RI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $428,000 |
| Median Household Income | $79,200 |