Housing Insights for ZIP Code 02875 (Shannock, RI)

Housing Summary for ZIP Code 02875

Homeowners

The median home value in ZIP Code 02875 (Shannock, RI) is $288,500. Approximately 88.3% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 0.0%.

The average occupancy of owner-occupied units in ZIP Code 02875 is 2.66 occupants, while owner-occupied units have an aggregate average size of 2.7 bedrooms per housing unit.

Renters

In the 02875 ZIP Code, an estimated 11.7% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 0.0%.

Among renter-occupied units in this ZIP, the average occupancy is 4.47 occupants, while renters in this Washington County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 02875

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 02875.

ZIP 02875 Rhode Island U.S.
Median Home Value $288,500 $468,795 $361,498
Owner-Occupied Housing Units 88.3% 60.8% 64.0%
Homeowner Vacancy Rate 0.0% 1.7% 1.6%
Average Size of Owner-Occupied Unit 2.66 2.63 2.70
Average # of Bedrooms Per Unit 2.7 2.55 2.75
Median Housing Rent $0 $1,004 $1,062
Renter-Occupied Housing Units 11.7% 39.2% 36.0%
Rental Vacancy Rate 0.0% 5.7% 6.0%
Average Size of Renter-Occupied Unit 4.47 2.23 2.49
Percent of Income Spent on Rent 0% 29.52% 29.83%

Home Values in ZIP Code 02875 (Shannock, RI)

The median home value in ZIP Code 02875 is $288,500. That median value is about 10% higher than the median home value of $261,900 in Rhode Island overall, and is 33% higher than the $217,500 the median home value in the entire U.S. In ZIP Code 02875, approximately 45.5% of homes are valued $200,000 to $299,999. That is 37% higher than in Rhode Island, in which 33.2% of homes are valued at $200,000 to $299,999, and is about 132% higher than in the U.S. overall (19.6% of homes valued at $200,000 to $299,999). The home value range that the smallest portion of ZIP Code 02875 homes fall into is $1,000,000 or more (0.0% of homes).

Home Values in ZIP Code 02875

This chart visualizes the breakdown of home values in ZIP Code 02875, Rhode Island, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 02875 vs. home values in both the state of Rhode Island and in the U.S. overall.

Home Values in ZIP Code 02875

See the table below for a regional comparison of home values in ZIP Code 02875.

Home Value ZIP 02875 Rhode Island U.S.
Less than $50,000 0.0% 2.3% 6.9%
$50,000 to $99,999 0.0% 2.0% 12.0%
$100,000 to $149,999 0.0% 7.0% 13.3%
$150,000 to $199,999 12.6% 16.6% 14.0%
$200,000 to $299,999 45.5% 33.2% 19.6%
$300,000 to $499,999 42.0% 27.5% 19.3%
$500,000 to $999,999 0.0% 9.5% 11.4%
$1,000,000 or more 0.0% 2.0% 3.4%

Home Ages in ZIP Code 02875 (Shannock, RI)

Approximately 50.0% of homes in this Shannock, RI region were built in 1980 to 1989. This amount of homes built in 1980 to 1989 in ZIP Code 02875 is about 342% higher than percentage of homes built in this time period in Rhode Island overall (11.3% of homes), and is 273% higher the percentage (13.4% of homes) in the U.S. as a whole. Additionally, an esimated 19.0% of local homes were built in 1939 or earlier. On the other end of the scale, just 0.0% of homes in this Washington County ZIP Code were built in 1940 to 1949 in ZIP Code 02875. In comparison, 7.1% of homes in Rhode Island overall were built in 1940 to 1949, while 4.9% of all U.S. homes were built in this time period.

Home Ages in ZIP Code 02875

A detailed regional comparison of home ages in ZIP Code 02875.

Year Built ZIP 02875 Rhode Island U.S.
2014 or later 0.0% 0.7% 2.5%
2010 to 2013 0.0% 0.9% 2.7%
2000 to 2009 0.0% 6.1% 14.0%
1990 to 1999 6.5% 7.6% 13.9%
1980 to 1989 50.0% 11.3% 13.4%
1970 to 1979 9.5% 12.1% 15.2%
1960 to 1969 15.0% 11.6% 10.6%
1950 to 1959 0.0% 12.3% 10.3%
1940 to 1949 0.0% 7.1% 4.9%
1939 or earlier 19.0% 30.4% 12.6%

Age of Homes in ZIP Code 02875

See the chart below for details on the age of homes in ZIP Code 02875, Rhode Island, and also in the U.S. overall. Data here refers to years that homes were built.

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Housing FAQs for ZIP Code 02875

Frequently asked questions about housing in this Shannock, RI ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 02875.

1

What is the average home value ZIP Code 02875?

The median home value in ZIP Code 02875 (Shannock, RI) is $288,500.
2

Are homes expensive in ZIP Code 02875?

The median home value in 02875 ($288,500) is an estimated 10% higher than the aggregate median value of $261,900 in Rhode Island, and is 33% higher than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 02875?

The vacacy rate for owner-occupied housing in ZIP Code 02875 is 0.0%. This rate is 100% lower than the overall Rhode Island owner-occupied vacancy rate of 1.7%. Additionally, the 02875 vacancy rate is 100% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 02875 have older homes or newer construction?

In ZIP Code 02875, about 50.0% of homes were built in 1980 to 1989. That time range includes the most home construction. Also, 19.0% of homes in the region were built in 1939 or earlier. In contrast, 0.0% of homes in 02875 were built in 1940 to 1949.
5

What is the housing breakdown in ZIP Code 02875? Are there more rentals or owner-occupied units?

There is more owner-occupied housing in 02875 than renter-occupied housing. Owner-occupied units make up 88.3% of housing, compared to 11.7% for renter-occupied units.
6

Are rental vacancy rates high in ZIP Code 02875?

The vacacy rate for rental units in ZIP Code 02875 is 0.0%. This rate is 100% lower than the overall Rhode Island vacancy rate of 5.7%. Additionally, the 02875 vacancy rate is 100% lower than the entire U.S. vacancy rate of 6.0%.