02882
$705,000median sale price
The 02882 zip code, located in South Kingstown, RI, is currently classified as a balanced market. The median sale price stands at $705,000, representing a -8.1% change year over year. Homes in this area spend an average of 46 days on the market before going under contract. There are currently 26 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 02882 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
41
Last 12 weeks
Days on market
46
Average pace
Active listings
26
Sale-to-list
96.6%
Below asking
Market trends
Market analysis for 02882
The 02882 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 96.6% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 02882 have declined -8.1% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. 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 02882 stands at $828,538, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $3,142 per month. This gives a price-to-rent ratio of approximately 22.0, 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.
Community profile
Population
13,238
Median income
$90,507/yr
Median age
43.7 years
Owner-occupied
6740.0%
College grads
5990.0%
Avg commute
24.7 min
Living in 02882
Zip code 02882 is home to approximately 13,238 residents. The median household income is $90,507 per year, which shapes the types of homes and amenities available in the area. With a median age of 43.7 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 6740.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 5990.0% 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 24.7 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 02882.
Frequently asked questions about 02882
What is the median home price in 02882?
The current median sale price in 02882 is $705,000, based on recent Redfin transaction data. Prices have changed -8.1% 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 02882 a buyer's or seller's market?
The 02882 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 and demographics of 02882?
Zip code 02882 has a population of approximately 13,238 residents. The median household income is $90,507 per year. About 6740.0% 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 02882?
Properties Incorporated provides comprehensive data for 02882 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 02882 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.
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