Housing Insights for ZIP Code 02904 (Providence, RI)

Housing Summary for ZIP Code 02904

Homeowners

The median home value in ZIP Code 02904 (Providence, RI) is $207,600. Approximately 47.4% of homes in this region are owner-occupied units, and the estimated homeowner vacancy rate is currently 1.4%.

The average occupancy of owner-occupied units in ZIP Code 02904 is 2.73 occupants, while owner-occupied units have an aggregate average size of 2.19 bedrooms per housing unit.

Renters

In the 02904 ZIP Code, an estimated 52.6% of all housing units are occupied by renters. This ZIP-defined region has is an estimated rental vacany rate of 6.9%.

Among renter-occupied units in this ZIP, the average occupancy is 2.08 occupants, while renters in this Providence County region spend an average of 0% of their income on housing rental costs.

Housing Stats for ZIP Code 02904

See the table below for a regional snapshot of data related to both owner-occupied housing and rentals in ZIP Code 02904.

ZIP 02904 Rhode Island U.S.
Median Home Value $207,600 $468,795 $361,498
Owner-Occupied Housing Units 47.4% 60.8% 64.0%
Homeowner Vacancy Rate 1.4% 1.7% 1.6%
Average Size of Owner-Occupied Unit 2.73 2.63 2.70
Average # of Bedrooms Per Unit 2.19 2.55 2.75
Median Housing Rent $0 $1,004 $1,062
Renter-Occupied Housing Units 52.6% 39.2% 36.0%
Rental Vacancy Rate 6.9% 5.7% 6.0%
Average Size of Renter-Occupied Unit 2.08 2.23 2.49
Percent of Income Spent on Rent 0% 29.52% 29.83%

Home Values in ZIP Code 02904 (Providence, RI)

The median home value in ZIP Code 02904 is $207,600. That median value is about 21% lower than the median home value of $261,900 in Rhode Island overall, and is 5% lower than the $217,500 the median home value in the entire U.S. In ZIP Code 02904, about 36.6% of homes are valued $200,000 to $299,999. That is 10% higher than in Rhode Island, in which 33.2% of homes are valued at $200,000 to $299,999, and is about 87% 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 02904 homes fall into is $1,000,000 or more (0.0% of homes).

Home Values in ZIP Code 02904

This chart visualizes the breakdown of home values in ZIP Code 02904, Rhode Island, and also in the U.S. overall.

A bar chart visualizing the breakdown of home values in ZIP Code 02904 vs. home values in both the state of Rhode Island and in the U.S. overall.

Home Values in ZIP Code 02904

See the table below for a regional comparison of home values in ZIP Code 02904.

Home Value ZIP 02904 Rhode Island U.S.
Less than $50,000 2.4% 2.3% 6.9%
$50,000 to $99,999 4.8% 2.0% 12.0%
$100,000 to $149,999 11.2% 7.0% 13.3%
$150,000 to $199,999 27.7% 16.6% 14.0%
$200,000 to $299,999 36.6% 33.2% 19.6%
$300,000 to $499,999 14.8% 27.5% 19.3%
$500,000 to $999,999 2.5% 9.5% 11.4%
$1,000,000 or more 0.0% 2.0% 3.4%

Home Ages in ZIP Code 02904 (Providence, RI)

Approximately 22.7% of homes in this Providence, RI region were built in 1970 to 1979. This amount of homes built in 1970 to 1979 in ZIP Code 02904 is about 88% higher than percentage of homes built in this time period in Rhode Island overall (12.1% of homes), and is 49% higher the percentage (15.2% of homes) in the U.S. as a whole. Additionally, an esimated 20.8% of local homes were built in 1980 to 1989. On the other end of the scale, just 0.4% of homes in this Providence County ZIP Code were built in 2014 or later in ZIP Code 02904. 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.

Home Ages in ZIP Code 02904

A detailed regional comparison of home ages in ZIP Code 02904.

Year Built ZIP 02904 Rhode Island U.S.
2014 or later 0.4% 0.7% 2.5%
2010 to 2013 0.5% 0.9% 2.7%
2000 to 2009 4.4% 6.1% 14.0%
1990 to 1999 5.5% 7.6% 13.9%
1980 to 1989 20.8% 11.3% 13.4%
1970 to 1979 22.7% 12.1% 15.2%
1960 to 1969 12.2% 11.6% 10.6%
1950 to 1959 9.1% 12.3% 10.3%
1940 to 1949 3.6% 7.1% 4.9%
1939 or earlier 20.7% 30.4% 12.6%

Age of Homes in ZIP Code 02904

See the chart below for details on the age of homes in ZIP Code 02904, 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 02904

Frequently asked questions about housing in this Providence, RI ZIP Code. Answers to questions about both owner-occupied housing and rental housing in 02904.

1

What is the average home value ZIP Code 02904?

The median home value in ZIP Code 02904 (Providence, RI) is $207,600.
2

Are homes expensive in ZIP Code 02904?

The median home value in 02904 ($207,600) is an estimated 21% lower than the aggregate median value of $261,900 in Rhode Island, and is 5% lower than the $217,500 the median home value in the U.S. overall.
3

What are owner-occupied vacancy rates like in ZIP Code 02904?

The vacacy rate for owner-occupied housing in ZIP Code 02904 is 1.4%. This rate is 18% lower than the overall Rhode Island owner-occupied vacancy rate of 1.7%. Additionally, the 02904 vacancy rate is 13% lower than the entire U.S. vacancy rate of 1.6%.
4

Does ZIP Code 02904 have older homes or newer construction?

In ZIP Code 02904, about 22.7% of homes were built in 1970 to 1979. That time range includes the most home construction. Also, 20.8% of homes in the region were built in 1980 to 1989. In contrast, 0.4% of homes in 02904 were built in 2014 or later.
5

What is the housing breakdown in ZIP Code 02904? Are there more rentals or owner-occupied units?

There is more renter-occupied housing in 02904 than owner-occupied housing. Renter-occupied units make up 52.6% of housing, compared to 47.4% for owner-occupied units.
6

Are rental vacancy rates high in ZIP Code 02904?

The vacacy rate for rental units in ZIP Code 02904 is 6.9%. This rate is 21% higher than the overall Rhode Island vacancy rate of 5.7%. Additionally, the 02904 vacancy rate is 15% higher than the entire U.S. vacancy rate of 6.0%.