Cranston
East Providence
Pawtucket
Warwick
Closing Conducted by: | Attorneys, Banks, Title Companies |
Conveyance: | Warranty or Quitclaim Deed |
Primary Foreclosure Method: | Non-Judicial |
Process Period: | 2 - 3 months |
Notice of Sale: | Trustee |
Redemption Period: | Up to 3 Years |
Income Tax: | 3.75%-5.99% |
Corporate Tax: | 7.00% |
Sales Tax: | 7.% |
Estate Tax: | 16% |
Inheritance Tax: | No |
Median Property Tax: | 1.35% |
Property Taxes by County: | http://www.tax-rates.org/rhode_island/property-tax#Counties |
Closing Cost: | $2,576.00 |
Transfer Fee: | 0.40% |
Origination Fee: | $1,931.00 |
Median Home Value: $325,805
1-Year Appreciation Rate: +8.3%
Median Home Value (1-Year Forecast): +8.5%
Median Rent Price: $2,000
Price-To-Rent Ratio: 13.57
Average Days On Market: 74
Unemployment Rate: 7.0% (latest estimate by the Bureau Of Labor Statistics)
Population: 1,057,315 (latest estimate by the U.S. Census Bureau)
Median Household Income: $61,043 (latest estimate by the U.S. Census Bureau)
Percentage Of Vacant Homes: 10.95%
Foreclosure Rate: 1 in every 17,949 (0.5%)
Kent: 1 in every 14,832 homes is distressed
Providence: 1 in every 16,613 homes is distressed
Bristol: 1 in every 20,964 homes is distressed
Washington: 1 in every 21,150 homes is distressed
Newport: 1 in every 42,291 homes is distressed
Pawtucket will see more interest: Home values in Rhode Island have increased by 8.3% in the last year and are higher than they have ever been. What's more, appreciation continues at a time when uncertainty from the pandemic remains. This unique convergence will have prospective buyers seek out more affordable living situations, which means Pawtucket could see some added interest. Approximately $75,000 less than the state average, the median home value in Pawtucket looks attractive and should draw more attention heading into 2021.
Appreciation will continue: Despite the pandemic, real estate in Rhode Island remains a commodity. Pent-up demand, in particular, was enough to maintain an active housing sector. That, combined with attractive fundamentals, means more people will want to buy. The resulting demand will increase both competition and home values.
More people will move to suburbs: Cities were too expensive to begin with, and now they are hotbeds for the Coronavirus. Today, people who are permitted to work from home may start moving to suburbs to seek more affordable, roomier living situations.
https://www.zillow.com/ri/home-values/
https://www.zillow.com/home-values/
https://www.zillow.com/pawtucket-ri/home-values/
https://www.realtytrac.com/statsandtrends/foreclosuretrends/ri/
https://www.realtytrac.com/statsandtrends/ri/
https://www.realtytrac.com/statsandtrends/foreclosuretrends/
https://www.realtytrac.com/statsandtrends/
http://www.freddiemac.com/pmms/pmms30.html
https://www.bls.gov/regions/new-england/rhode_island.htm
https://www.census.gov/quickfacts/fact/table/RI,US/INC110219