The story of this market
The typical home in ZIP 02863 sells for about $610,000, or $173 per square foot.
Prices are roughly flat from a year ago (+1%), a market in balance. Homes take about 34 days to sell. HUD's fair market rent for a two-bedroom is $1,694 a month.
ZIP 02863 — Central Falls
The 02863 housing market is characterized by high price-to-income ratios and significant economic headwinds, with a median sale price of $610,000 and a median home value of $383,460. The market is heavily skewed toward renters, who make up over 74% of the population, and investors must navigate a soft market with high vacancy risks. Current data indicates a stable but challenging environment for traditional buyers.
This ZIP is primarily suited for investors familiar with soft, urban markets and renters, as the high price-to-income ratio and economic headwinds present challenges for traditional family buyers.
Median prices moved up 1.0% year over year.
Homes spend a median of 34 days on market with 0.7 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 97.7% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 7.9% · poverty 24.6% — a mixed stability 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 9.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
ZCTA 02863, Providence County RI
The area is served by 9 schools, though specific performance ratings are not detailed in the provided market data.
FEMA's National Risk Index rates the county's overall natural-hazard risk as Relatively Moderate, with coldwave, heatwave, and icestorm identified as top-rated hazards.
The area supports 293 business establishments employing approximately 2,676 people, with economic activity centered on local services and small-scale commerce.
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.
The ZIP is located within the Providence-Warwick, RI-MA Metropolitan Statistical Area, providing access to regional employment hubs via local transit and highway corridors.
The area is a dense urban environment with proximity to Pawtucket and Providence, offering access to regional parks and urban amenities within a 3-mile radius.
The rental market is characterized by a high renter share of 74.4%, with a vacancy rate of 11.1% and a typical rent of $1,694 per month.
The local economy is supported by small business establishments and service-sector employment, with a significant portion of the workforce commuting to the broader Providence-Warwick metro area.
The area is integrated into the Providence-Warwick, RI-MA Metropolitan Statistical Area, relying on regional road networks for connectivity.
The area is located within Rhode Island's 1st Congressional District.
The area faces moderate natural-hazard risks, including coldwaves and heatwaves, which influence local insurance posture.
Data retrieved from ZipCodeDex and Census ACS 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.
- Gillette Stadium4.615.3 mi
- The Xfinity Center4.211.3 mi
- Supercharged Entertainment4.511.6 mi
- Patriot Place4.615.2 mi
- Amica Mutual Pavilion4.44.8 mi
- Bally's Lincoln3.92.9 mi
- Roger Williams Park Zoo4.67 mi
- RISD Museum4.74.5 mi
- Lincoln Woods State Park4.62.2 mi
- Showcase Cinema de Lux North Attleboro4.65.1 mi
- RISD Museum4.74.5 mi
- Lizzie Borden House (A Bed and Breakfast & Museum)4.817.9 mi
- Providence Children's Museum4.65.2 mi
- Blithewold Manor, Gardens & Arboretum4.717.6 mi
- The Providence Athenaeum4.84.5 mi
- Lincoln Woods State Park4.62.2 mi
- Roger Williams Park4.76.9 mi
- Slater Memorial Park4.62.8 mi
- Roger Williams Park Botanical Center4.77.5 mi
- Prospect Terrace4.74.3 mi
- The Cove | Restaurant & Marina4.317.3 mi
- Herreshoff Marine Museum4.716.8 mi
- Harbor Lights Dining Events Golf Marina4.414.1 mi
- East Providence Yacht Club4.35.1 mi
- Rhode Island Yacht Club4.68.5 mi
- Topgolf Rhode Island4.310.1 mi
- TPC Boston4.710.7 mi
- Kirkbrae Country Club4.65.3 mi
- Triggs Memorial Golf Course4.25.2 mi
- Swansea Country Club4.410.9 mi
- Wrentham Village Premium Outlets4.510.5 mi
- Providence Place4.44.4 mi
- Warwick Mall4.312.3 mi
- Garden City Center4.69.6 mi
- Emerald Square Mall44.4 mi
- Rhode Island T.F. Green International Airport4.411.7 mi
- Boston Skydive Center55.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area ranked by popularity within the radius shown.
Local green space serving the dense urban population.
Key-figure check: median price diverges 59.7% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict.