Woonsocket, Rhode Island Housing Market Prices
Woonsocket Home Prices and Rent at a Glance
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 11% below the Rhode Island median$320,803
-
Median rent 13% below the Rhode Island median$1,161
Housing Market Overview
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,803 | $360,248 | $248,835 |
| Price Trend (Annual %) | 17.1% | 7.4% | 7.5% |
| Median Gross Rent | $1,161 | $1,341 | $1,407 |
| Rent Trend (Annual %) | 4.4% | 4.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Woonsocket is about 11% lower than in Rhode Island. Rent is about 13% lower than the Rhode Island average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Woonsocket, up about 17.1% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Woonsocket rose about 41.3% between 2015 and 2024, from $821 to $1,161. Over the same span, rent in Rhode Island rose about 45.0%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Woonsocket.
Buying the median-priced home in Woonsocket costs roughly 23.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Woonsocket. The price-to-rent ratio in Rhode Island is about 22.4.
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $320,803 | $360,248 | $248,835 |
| Median Household Income | $61,013 | $88,093 | $80,455 |
| Price-to-Income Ratio | 5.3 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Woonsocket rose about 308.0%, while median household income rose about 36.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 33.7% | 57.8% | 58.5% |
| Rental Rate | 57.0% | 33.0% | 31.2% |
| Vacancy Rate | 9.3% | 9.1% | 10.2% |
| Median Tenure (years) | 11.0 | 16.0 | 15.0 |
| Median Year Moved In | 2015 | 2010 | 2011 |
Woonsocket has a homeownership rate of 33.7%, lower than the Rhode Island average of 57.8%. Its housing vacancy rate is 9.3%, compared with 9.1% in Rhode Island.
Housing Stock
| Metric | Woonsocket | Rhode Island Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.38 people | 2.53 people |
| Median Structure Built Year | 1954 | 1962 | 1978 |
| Median Number of Rooms | 4.7 | 5.4 | 5.5 |
The typical housing unit in Woonsocket was built around 1954. On average, 2.4 people live in a home with about 4.7 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Woonsocket, Rhode Island.
What is the median home price in Woonsocket, Rhode Island?
The median home price in Woonsocket, Rhode Island is $320,803, lower than the Rhode Island average of $360,248.
What is the average home price in Woonsocket, Rhode Island?
The typical home price in Woonsocket, Rhode Island, reported as the median sale price, is $320,803. 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 Woonsocket, Rhode Island?
The median gross rent in Woonsocket, Rhode Island is $1,161 per month, lower than the Rhode Island average of $1,341.
What was the median gross rent in Woonsocket in 2020?
In 2020, the median gross rent in Woonsocket, Rhode Island was $921 per month.
What is the price-to-rent ratio in Woonsocket, Rhode Island?
The price-to-rent ratio in Woonsocket, Rhode Island is about 23.0, meaning it would take roughly 23.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Woonsocket.
Are home prices or rent rising faster in Woonsocket, Rhode Island?
Both home prices and rent are rising in Woonsocket, up about 17.1% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Woonsocket, Rhode Island?
33.7% of households in Woonsocket, Rhode Island own their home, lower than the Rhode Island average of 57.8%.
What is the vacancy rate in Woonsocket, Rhode Island?
The housing vacancy rate in Woonsocket, Rhode Island is 9.3%, higher than the Rhode Island average of 9.1%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →