Our recent study has uncovered some exciting opportunities in the Rhode Island housing market, revealing hidden gems and incredible deals among the state’s best places to live.
Let’s examine our findings and see what treasures we’ve discovered.
Key Findings: Untapped Potential in Unexpected Places
- Top Picks: Cumberland Hill, Mount Hope, Hope, and North Providence stand out as the best opportunities based on our criteria, with minimal interest and reasonable housing prices.
- Affordable Options with Slightly Higher Interest: Tiverton and Cranston, while slightly more competitive, still offer attractive pricing.
Study Overview: Methodology and Key Insights
Our research team at Moss Homes Solutions conducted a comprehensive analysis comparing the top 25 places to live in Rhode Island, as rated by Niche.com, with monthly search volume data pulled from Ahrefs for home searches in these areas.
We focused on the popularity of online searches relative to population size, highlighting the best opportunities for purchasing homes in desirable locations with relatively low search demand.
Best Places to Live: Search Volume vs. Population Size
| # | Best place to live according to niche.com = Area | Search Volume | Median Price $k (according to niche.com) | Population Size | Search vol per capita = popularity online relative to population size of that area |
|---|---|---|---|---|---|
| 1 | East Greenwich | 150.00 | 568,700 | 14,285.00 | 1.05 |
| 2 | Barrington | 300.00 | 549,800 | 17,121.00 | 1.75 |
| 3 | South Kingstown | 80.00 | 467,400 | 31,982.00 | 0.25 |
| 4 | Kingston | 10.00 | 458,600 | 6,560.00 | 0.15 |
| 5 | North Kingstown | 200.00 | 444,200 | 27,719.00 | 0.72 |
| 6 | Cumberland Hill | 0.00 | 342,900 | 8,866.00 | 0.00 |
| 7 | Jamestown | 70.00 | 736,600 | 5,554.00 | 1.26 |
| 8 | Lincoln | 300.00 | 384,900 | 22,476.00 | 1.33 |
| 9 | Portsmouth | 250.00 | 483,700 | 17,846.00 | 1.40 |
| 10 | College Hill | 0.00 | 868,298 | 9,216 | 0.00 |
| 11 | Cumberland | 900.00 | 370,600 | 36,276.00 | 2.48 |
| 12 | Mount Hope | 0.00 | 383,073 | 5,431.00 | 0.23 |
| 13 | Narragansett | 300.00 | 600,200 | 14,623.00 | 2.05 |
| 14 | Middletown | 100.00 | 480,100 | 17,009.00 | 0.59 |
| 15 | Bristol | 400.00 | 426,000 | 22,420.00 | 1.78 |
| 16 | Blackstone | 0.00 | 741,443 | 7,174.00 | 0.00 |
| 17 | Hope | 10.00 | 380,115 | 3,594.00 | 0.28 |
| 18 | Fox Point | 0.00 | 419,537 | 7,664.00 | 0.00 |
| 19 | Smithfield | 350.00 | 371,400 | 22,086.00 | 1.58 |
| 20 | Cranston | 450.00 | 326,000 | 82,691 | 0.54 |
| 21 | Wayland | 0.00 | 542,948 | 4,316 | 0.00 |
| 22 | Downtown | 0.00 | 532,695 | 5,223.00 | 0.00 |
| 23 | Newport | 450.00 | 622,800 | 25,087.00 | 1.79 |
| 24 | North Providence | 100.00 | 290,000 | 33,945 | 0.29 |
| 25 | Tiverton | 250.00 | 333,800 | 16,324 | 1.53 |
Note: The higher the number in the “search volume per capita” column, the higher the existing interest in the area, indicating less ‘hidden gem’ potential.
Hidden Gem Candidates: Where Opportunity Knocks
Our ideal hidden gem is characterized by a low online search volume per capita, low housing cost, and a high ranking on Niche’s “Best Places to Live in Rhode Island.” Based on these criteria, we’ve identified the following areas as top hidden gem candidates:
1. Cumberland Hill
- Median Price: $342,900
- Search Volume: Little to no searches for homes for sale
- Population: 8,866
- Ranking: #6 best suburb to live in RI
2. Hope
- Median Price: $380,115
- Search Volume Per Capita: 0.28% (very low)
- Population: 3,594
- Ranking: #17 best suburb to live in RI
3. Mount Hope
- Median Price: $383,073
- Search Volume: Little to no searches for homes for sale
- Population: 5,431
- Ranking: #12 best suburb to live in RI
4. North Providence
- Median Price: $290,000
- Search Volume Per Capita: 0.29% (very low)
- Population: 33,945
- Ranking: #24 best suburb to live in RI
5. Cranston
- Median Price: $326,000
- Search Volume Per Capita: 0.54% (very low)
- Population: 82,691
- Ranking: #20 best suburb to live in RI
Cost Insights for Rhode Island
Top 10 Places to Live
- Average Home Price: $503,463
- Highlights: These areas are highly sought after, featuring excellent amenities, schools, and livability standards according to Niche.com rankings. The average home prices reflect their desirability, making them some of the more competitive markets.
Top 5 Places to Live
- Average Home Price: $540,280
- Highlights: With slightly higher average home prices, the top 5 locations offer exceptional living conditions with the most desirable amenities. These areas tend to have more attention from potential buyers due to their top-tier rankings.
Bottom 10 Places (Ranks 15-25)
- Average Home Price: $407,650
- Highlights: The median home price in the bottom 10 places is significantly lower, providing great opportunities for potential homeowners seeking affordability. These areas, while ranked lower, are less explored by buyers and offer cost-effective living options with potential for growth.
Analysis of Search Volumes: Popularity vs. Opportunity
Our research reveals that areas like Cumberland, Newport, and Smithfield exhibit high search volumes online, indicating substantial interest from potential residents. While these areas may offer excellent amenities, their popularity reduces the opportunity for hidden value and cost-effectiveness.
Hidden Gems
On the other hand, the hidden gems we’ve identified – Cumberland Hill, Hope, Mount Hope, North Providence, and Cranston – exemplify the perfect balance of affordability, livability, and low interest from potential buyers. These areas represent significant opportunities for those seeking cost-effective living in high-potential locations.
Value Proposition
By focusing on these lesser-searched areas, potential homeowners can capitalize on lower prices and reduced competition while enjoying a high standard of living. These insights underscore the importance of exploring areas with less online interest to uncover hidden gems that offer both value and growth potential.
