The median home value in ZIP Code 02907 (Providence, RI) is $180,300. Approximately 29.2% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 2.5%.
The average occupancy of owner-occupied units in ZIP Code 02907 is 3.41 occupants, while owner-occupied units have an aggregate average size of 2.52 bedrooms per housing unit.
In the 02907 ZIP Code, an estimated 70.8% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 5.4%.
Among renter-occupied units in this ZIP, the average occupancy is 3.27 occupants, while renters in this Providence County region spend an average of 0% of their income on housing rental costs.
See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 02907.
| ZIP 02907 | Rhode Island | U.S. | |
|---|---|---|---|
| Median Home Value | $180,300 | $484,787 | $364,385 |
| Owner-Occupied Housing Units | 29.2% | 60.8% | 64.0% |
| Homeowner Vacancy Rate | 2.5% | 1.7% | 1.6% |
| Average Size of Owner-Occupied Unit | 3.41 | 2.63 | 2.70 |
| Average # of Bedrooms Per Unit | 2.52 | 2.55 | 2.75 |
| Median Housing Rent | $0 | $1,004 | $1,062 |
| Renter-Occupied Housing Units | 70.8% | 39.2% | 36.0% |
| Rental Vacancy Rate | 5.4% | 5.7% | 6.0% |
| Average Size of Renter-Occupied Unit | 3.27 | 2.23 | 2.49 |
| Percent of Income Spent on Rent | 0% | 29.52% | 29.83% |
The median home value in ZIP Code 02907 is $180,300. That median value is about 31% lower than the median home value of $261,900 in Rhode Island overall, and is 17% lower than the $217,500 the median home value in the entire U.S. In ZIP Code 02907, about 33.6% of homes are valued $100,000 to $149,999. That is 380% higher than in Rhode Island, in which 7.0% of homes are valued at $100,000 to $149,999, and is about 153% higher than in the U.S. overall (13.3% of homes valued at $100,000 to $149,999). The home value range that the smallest portion of ZIP Code 02907 homes fall into is $1,000,000 or more (1.2% of homes).
This chart visualizes the breakdown of home values in ZIP Code 02907, Rhode Island, and also in the U.S. overall.
See the table below for a regional comparison of home values in ZIP Code 02907.
| Home Value | ZIP 02907 | Rhode Island | U.S. |
|---|---|---|---|
| Less than $50,000 | 1.5% | 2.3% | 6.9% |
| $50,000 to $99,999 | 1.8% | 2.0% | 12.0% |
| $100,000 to $149,999 | 33.6% | 7.0% | 13.3% |
| $150,000 to $199,999 | 23.4% | 16.6% | 14.0% |
| $200,000 to $299,999 | 26.2% | 33.2% | 19.6% |
| $300,000 to $499,999 | 9.9% | 27.5% | 19.3% |
| $500,000 to $999,999 | 2.4% | 9.5% | 11.4% |
| $1,000,000 or more | 1.2% | 2.0% | 3.4% |
Approximately 58.1% of homes in this Providence, RI region were built in 1939 or earlier. This amount of homes built in 1939 or earlier in ZIP Code 02907 is about 91% higher than percentage of homes built in this time period in Rhode Island overall (30.4% of homes), and is 361% higher the percentage (12.6% of homes) in the U.S. as a whole. Additionally, an esimated 8.4% of local homes were built in 1970 to 1979. On the other end of the scale, just 0.1% of homes in this Providence County ZIP Code were built in 2014 or later in ZIP Code 02907. In comparison, 0.7% of homes in Rhode Island overall were built in 2014 or later, while 2.5% of all U.S. homes were built in this time period.
A detailed regional comparison of home ages in ZIP Code 02907.
| Year Built | ZIP 02907 | Rhode Island | U.S. |
|---|---|---|---|
| 2014 or later | 0.1% | 0.7% | 2.5% |
| 2010 to 2013 | 0.6% | 0.9% | 2.7% |
| 2000 to 2009 | 5.5% | 6.1% | 14.0% |
| 1990 to 1999 | 2.7% | 7.6% | 13.9% |
| 1980 to 1989 | 6.7% | 11.3% | 13.4% |
| 1970 to 1979 | 8.4% | 12.1% | 15.2% |
| 1960 to 1969 | 6.8% | 11.6% | 10.6% |
| 1950 to 1959 | 5.3% | 12.3% | 10.3% |
| 1940 to 1949 | 5.7% | 7.1% | 4.9% |
| 1939 or earlier | 58.1% | 30.4% | 12.6% |
See the chart below for details on the age of homes in ZIP Code 02907, Rhode Island, and also in the U.S. overall. Data here refers to years that homes were built.
Frequently asked questions about housing in this Providence, RI ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 02907.
