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  1. Home
  2. /Browse ZIP Codes
  3. /Rhode Island
  4. /Narragansett, RI - 02882

Narragansett, RI—02882

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$885,000
4.3% YoY Growth
Household Income
$95,800
27.5% YoY Growth
Days on Market
33
22.0% Longer YoY
Home Price Forecast
3.2%
Median Rent
$3,000
8.9% YoY Growth
1-Bed Rent
$1,200
20.5% YoY Growth
2-Bed Rent
$2,750
17.6% YoY Growth
3-Bed Rent
$3,000
9.1% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Narragansett, RI

As of May '26, the median home price in Narragansett, RI is $885,000, with a year-over-year change of 4.3%. This indicates that home prices in Narragansett, RI are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$885,0004.3%
Single Family $970,0004.2%
Condos $404,0004.4%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
  • $386,000
    3.8%
    2 Bed
    $747,0004.9%
    3 Bed
    $968,0003.8%
    4 Bed
    $1,160,0003.4%
    5 Bed $1,354,2334.1%
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    % of Housing Stock

    Studio
    0.2%
    1 Bedroom
    5.9%
    2 Bedrooms
    25.4%
    3 Bedrooms
    41.4%
    4 Bedrooms
    21.5%
    5+ Bedrooms
    5.6%

    Rental Trends — Narragansett, RI

    As of July '25, Rentcast reports the average rent in Narragansett, RI is $3,260, with a year-over-year rent change of -8.9%. Per bedroom, the median rent as of July '25 in Narragansett, RI is studios: $2,380, 1-bedrooms: $2,000, 2-bedrooms: $2,710, 3-bedrooms: $3,200, 4-bedrooms: $4,520. The most common rental property sizes in Narragansett, RI are 2-bedroom and 3-bedroom, accounting for 35.6% and 27.2% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$3,000$3,260
    Studio Rent $2,250$2,380
    1 Bed Rent $1,200$2,000
    2 Bed Rent $2,750$2,710
    3 Bed Rent $3,000$3,200
    4 Bed Rent $3,950$4,520
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    % of Rental Stock

    Studio
    1.2%
    1 Bedroom
    13.1%
    2 Bedrooms
    35.6%
    3 Bedrooms
    27.2%
    4 Bedrooms
    14.1%
    5+ Bedrooms
    8.8%

    Property Listings — Narragansett, RI

    As of May '26, Realtor.com reports that the median days on market for a home in Narragansett, RI is 33. This is a increase of 22.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    $1,210,0007.0%
    Listing Count
    81-3.0%
    Listings as % of Homes0.6%-3.0%
    Days on Market
    3322.0%
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    Demographics — Narragansett, RI

    As of the latest ACS Survey released in 2023, Narragansett, RI has a population of 13,000, which has decreased by -6.9% over the past 5 years. Narragansett, RI is a less popular place for families, as children make up 9.9% of the population. The area has a highly educated workforce, with 64.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.4% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    13,000-6.9%
    % Under 18
    9.9%-11.6%
    % Seniors
    25.1%5.5%
    % WFH
    19.4%234.5%
    % w/ College Degree
    64.0%11.7%
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    As of the latest ACS Survey released in 2023, Narragansett, RI is a predominantly white area, with 93.3% of the population identifying as white. The white population has grown by 0.3% in the last 5 years. The second most common race or ethnicity in Narragansett, RI is hispanic, making up 3.1% of the population. Foreign-born residents account for 3.1% of the population in Narragansett, RI, and this percentage has decreased by 31.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    93.3%0.3%
    % Black
    0.3%-66.7%
    % Hispanic
    3.1%-16.2%
    % Asian
    0.4%-81.0%
    % Foreign Born
    3.1%-31.1%
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    Mortgage and Risk — Narragansett, RI

    According to HUD data as of 2023, there were 331 mortgage originations in Narragansett, RI, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 43.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Narragansett, RI. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    331
    % Conventional Loans
    98.0%
    % Government Loans
    2.0%
    % Investor Loans
    3.0%
    % Second Loans
    23.0%
    % Cash Out Refinance
    8.0%
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    Rentals and Section 8 — Narragansett, RI

    As of 2024, the percent of homes in Narragansett, RI under the Section 8 program is 14.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Narragansett, RI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    253
    Total Units Section 8
    244
    % Rentals under Section 8
    14.4%
    % Occupied Section 8
    95.3%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$530$1,200$1,730
    2 Bedroom-$630$2,750$2,120
    3 Bedroom-$450$3,000$2,550
    4 Bedroom-$850$3,950$3,100

    Affordability — Narragansett, RI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.3
    Median Home Price$885,000
    Median Household Income$95,800

    Narragansett, RI — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    02879

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    02892

    Frequently Asked Questions