The story of this market
The typical home in ZIP 02871 sells for about $712,500, or $450 per square foot.
Prices are down 3.6% from a year ago, which gives buyers more room to negotiate. Homes take about 36 days to sell. HUD's fair market rent for a two-bedroom is $1,719 a month.
ZIP 02871 — Portsmouth
The Portsmouth housing market remains a seller's market with low inventory and high demand, though year-over-year prices have seen a slight correction. The area's strong school system and coastal appeal continue to drive interest, keeping days on market relatively low despite broader economic headwinds.
This ZIP is ideal for families and professionals seeking a coastal suburban lifestyle with high-quality schools and a quiet, community-focused environment.
Median prices moved down 3.6% year over year.
Homes spend a median of 36 days on market with 1.4 months of supply — a fast-moving market.
4% of listings have cut prices · homes sell at 98.4% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 4.5% — 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 8.2%/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 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 02871
Portsmouth generally reports low crime rates, consistently ranking as one of the safer communities in Rhode Island compared to regional urban centers.
The Portsmouth School District is highly regarded, with local elementary schools like Howard Hathaway receiving top ratings for academic performance and community engagement.
As a coastal town, Portsmouth faces risks related to storm surges and flooding; property insurance premiums reflect these environmental exposures.
Economic momentum is driven by its proximity to the Newport naval and tourism sectors, with steady residential development and limited commercial expansion.
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.
Residents primarily commute by car toward Newport or Providence; the area lacks direct rail transit, relying on highway corridors like RI-24.
The area features extensive coastal access, including beaches and marinas, alongside local parks and golf courses like the Green Valley Country Club.
The rental market is characterized by low vacancy pressure and a mix of long-term residential leases and seasonal demand, with rents trending moderately upward.
The economy is anchored by the defense sector, specifically the Naval Undersea Warfare Center, and a robust tourism and hospitality industry in the surrounding Newport area.
Transportation is heavily reliant on private vehicles; RI-24 serves as the primary artery connecting the town to the mainland and Newport.
Development is focused on residential infill and small-scale commercial improvements, with strict zoning to preserve the town's coastal character.
The Portsmouth Tax Assessor manages property valuations, typically conducting revaluations on a triennial cycle to ensure market alignment.
Parcels are subject to standard municipal taxes; there are no significant MUD/PID districts, though coastal properties may fall under specific flood management zones.
Property insurance costs are influenced by coastal hazard zones, with premiums reflecting the necessity for flood and wind coverage.
Data retrieved from US Census Bureau ZCTA 02871 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.
Private golf facility serving the local community.
Popular local coastal access point for residents.
Major hub for boating and marine recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.