The story of this market
The typical home in ZIP 02842 sells for about $997,500, or $424 per square foot.
Prices are up +14% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $2,250 a month.
ZIP 02842 — Middletown
The Middletown market is currently experiencing a seller's advantage with low inventory and stable pricing. While the median list price is high, the market action index suggests a plateau rather than a decline. Demand remains steady, driven by the area's coastal appeal and proximity to Newport.
This ZIP fits families and professionals seeking a coastal suburban lifestyle with proximity to Newport's amenities, though high price points may limit entry for first-time buyers.
Median prices moved up 14.0% year over year.
Homes spend a median of 35 days on market with 0.2 months of supply — a fast-moving market.
17% of listings have cut prices · homes sell at 96.2% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.1% · poverty 9.9% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 02842, Newport County RI
Public schools in the area are generally well-regarded, with the district receiving a B+ overall grade from Niche.
The area is coastal and subject to standard New England flood and wind risks; insurance posture is typical for Aquidneck Island.
Economic momentum is driven by tourism, defense-related industries in nearby Newport, and steady residential development on Aquidneck Island.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Rhode Island) — Local Property Tax Assessment: Property is assessed at full and fair cash value. The tax is calculated by multiplying the assessed value by the local tax rate (mill rate). Municipalities may apply homestead exemptions or tax classifications (residential vs. commercial) as authorized by state law.
Commutes are primarily drive-based toward Newport or Providence; transit options are limited, relying on regional bus connectivity.
The area features significant coastal access, including Third Beach and various parks, alongside golf courses and proximity to Newport's shopping and dining.
The rental market is tight with high demand from seasonal workers and students; vacancy pressure remains low.
The economy is anchored by tourism, the U.S. Navy presence in Newport County, and local retail/service sectors.
Transportation relies on state highway routes connecting Aquidneck Island to the mainland; public transit is limited.
Development is primarily focused on residential infill and luxury coastal property renovations.
Parcels are subject to Middletown municipal taxes; no specific MUD/PID districts are reported.
Coastal property insurance premiums are elevated due to flood and wind exposure.
Data retrieved from data.census.gov ZCTA profiles.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment. Source: NCES EDGE public school locations 2023-24.
Popular local coastal access point.
Premier regional golf facility.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.