Brokers — List your Company Here
Featured local agent — ZIP 02842
Sarah Mitchell
Compass Real Estate · ZIP 02842
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
This spot is open. Be the only brokerage featured on this page — one slot, no auction.
Claim this spot* Example only — dummy agent for illustration. Your logo, name, tagline, link, and lead routing replace this content.
02842 ZIP Code Housing Market
$814,500median sale price
What is the 02842 housing market like right now?
The median home sale price in ZIP code 02842 is $814,500, up 15.1% year-over-year. Homes sell in an average of 45 days with 42 active listings. The market is currently a balanced market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 02842 ZIP code a buyer's or seller's market?
ZIP code 02842 is currently a balanced market and homes selling in about 45 days. How we determine this →
What are the latest 02842 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $814,500 |
| Median list price | $850,000 |
| Year-over-year price change | +15.1% |
| Average days on market | 45 days |
| Active inventory | 42 listings |
| Sale-to-list price ratio | 97.2% |
| Market condition | Balanced market |
Source: Redfin · Updated monthly
The 02842 zip code, located in Middletown, RI, is currently classified as a balanced market. The median sale price stands at $814,500, representing a +15.1% change year over year. Homes in this area spend an average of 45 days on the market before going under contract. There are currently 42 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 02842 sits in the Middletown, RI area, roughly 0.5 miles from downtown Middletown. Because home prices are set street by street, this ZIP can move differently from Middletown's citywide averages. The figures below reflect 02842 specifically — drawn from Redfin transactions, U.S. Census data for its 16,832 residents, and Zillow value estimates.
Homes sold
36
Last 12 weeks
Days on market
45
Average pace
Active listings
42
Sale-to-list
97.2%
Below asking
What is driving the 02842 housing market?
The 02842 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a balanced market, homes are selling at approximately 97.2% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 02842 have increased +15.1% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 02842 stands at $780,931, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $3,223 per month. This gives a price-to-rent ratio of approximately 20.2, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 02842?
Population
16,832
Median income
$101,948/yr
Median age
43.8 years
Owner-occupied
57.9%
College grads
47.4%
Avg commute
20.5 min
What is it like living in 02842?
Zip code 02842 is home to approximately 16,832 residents. The median household income is $101,948 per year, which shapes the types of homes and amenities available in the area. With a median age of 43.8 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 57.9% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 47.4% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 20.5 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 02842.
Which public schools serve ZIP 02842?
5 schools tracked · 1,904 students
The largest public schools serving ZIP code 02842 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Middletown High School
Grades 9-12 · 562 students
Gaudet Middle School
Grades 6-8 · 457 students
Forest Avenue School
Grades K-3 · 309 students
Aquidneck School
Grades PK-3 · 303 students
Gaudet Learning Academy
Grades 4-5 · 273 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 02842
What is the median home price in 02842?
The current median sale price in 02842 is $814,500, based on recent Redfin transaction data. Prices have changed +15.1% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 02842 a buyer's or seller's market?
The 02842 zip code is currently classified as a balanced market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 02842?
Zip code 02842 has a population of approximately 16,832 residents. The median household income is $101,948 per year. About 57.9% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 02842?
Properties Incorporated provides comprehensive data for 02842 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 02842 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
Be the brokerage on this page
1 slot per pageGet featured on ZIP 02842
Your logo, brokerage name, and direct link to your site — featured at the top of this page in front of every visitor researching this neighborhood. One brokerage, no rotation, no bidding war.
- Goes live in 24 hours
- Cancel anytime
- Do-follow backlink to your site
Get zip code 02842 market alerts
Weekly updates on prices, inventory, and trends. Free forever.