Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Bristol County | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $275,000 | $317,211 | $242,182 |
| Price Trend (Annual %) | 2.1% | 6.4% | 8.2% |
| Median Gross Rent | $1,348 | $1,273 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bristol County is about 13% lower than in Rhode Island. Rent is about 6% higher than the Rhode Island average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Bristol County, up about 2.1% and 4.2% a year respectively. Rent is changing faster.
Median rent in Bristol County rose about 35.8% between 2015 and 2023, from $992 to $1,348. Over the same span, rent in Rhode Island rose about 37.7%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Bristol County.
Buying the median-priced home in Bristol County costs roughly 17.0 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bristol County. The price-to-rent ratio in Rhode Island is about 20.8.
| Metric | Bristol County | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $275,000 | $317,211 | $242,182 |
| Median Household Income | $109,426 | $86,475 | $78,145 |
| Price-to-Income Ratio | 2.5 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Bristol County rose about 0.7%, while median household income rose about 56.1% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bristol County | Rhode Island Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 57.0% | 58.2% |
| Rental Rate | 24.1% | 33.1% | 31.3% |
| Vacancy Rate | 9.9% | 9.8% | 10.6% |
| Median Tenure (years) | 16.0 | 16.0 | 15.0 |
| Median Year Moved In | 2010 | 2010 | 2011 |
Bristol County has a homeownership rate of 66.0%, higher than the Rhode Island average of 57.0%. Its housing vacancy rate is 9.9%, compared with 9.8% in Rhode Island.
Housing Stock
| Metric | Bristol County | Rhode Island Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.40 people | 2.54 people |
| Median Structure Built Year | 1953 | 1962 | 1978 |
| Median Number of Rooms | 6.0 | 5.4 | 5.5 |
The typical housing unit in Bristol County was built around 1953. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bristol County, Rhode Island.
What is the median home price in Bristol County, Rhode Island?
The median home price in Bristol County, Rhode Island is $275,000, lower than the Rhode Island average of $317,211.
What is the average home price in Bristol County, Rhode Island?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bristol County, Rhode Island?
The median gross rent in Bristol County, Rhode Island is $1,348 per month, higher than the Rhode Island average of $1,273.
What was the median gross rent in Bristol County in 2020?
In 2020, the median gross rent in Bristol County, Rhode Island was $1,076 per month.
What is the price-to-rent ratio in Bristol County, Rhode Island?
The price-to-rent ratio in Bristol County, Rhode Island is about 17.0, meaning it would take roughly 17.0 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Bristol County.
Are home prices or rent rising faster in Bristol County, Rhode Island?
Both home prices and rent are rising in Bristol County, up about 2.1% and 4.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Bristol County, Rhode Island?
66.0% of households in Bristol County, Rhode Island own their home, higher than the Rhode Island average of 57.0%.
What is the vacancy rate in Bristol County, Rhode Island?
The housing vacancy rate in Bristol County, Rhode Island is 9.9%, higher than the Rhode Island average of 9.8%.