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Central Falls city, RI

ZIP 02863 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Working ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 02863

Median Home Value
$300,500
Median Rent
$954
Affordability Snapshot
$83,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,930/mo PITI).

25%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.5x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

26.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 02863 in Central Falls city, RI, a household would need roughly $83,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,930. That is about 81% above the local median household income ($45,921), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 10% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
28.6%-56% vs US avg
x
Vacancy Rate
10.2%-1% vs US avg
x
Broadband Access
83.5%-4% vs US avg
x
4+ Bedrooms
1.0%-93% vs US avg
x
Built Pre-1939
8.7%-32% vs US avg
x
Built Post-2014
0.6%-92% vs US avg
x
Rent Burden >30%
22.6%-55% vs US avg
x
Mortgage-Free
28.5%-25% vs US avg
x
$300,500
Home Value
$954
Rent
1944
Year Built
2016
Moved In

Residents have lived here since ~2016 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached11.8%
  • 1-unit attached5.0%
  • 2-9 units72.1%
  • 10+ units11.2%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$300,500
Median rent$954
Owner-occupied28.6%
Vacant10.2%
Price-to-income6.5x
Est. income to buy$83,000