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Melville CDP, RI

ZIP 02871 — Housing & Real Estate

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

Upper Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 02871

Median Home Value
$539,700
Median Rent
$1,458
Affordability Snapshot
$149,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,467/mo PITI).

15%
Rent-to-Income Ratio

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

4.5x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

30.8 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 02871 in Melville CDP, RI, a household would need roughly $149,000 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 $3,467. That is about 25% above the local median household income ($119,135), 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
80.5%+23% vs US avg
x
Vacancy Rate
10.3%-0% vs US avg
x
Broadband Access
96.1%+10% vs US avg
x
4+ Bedrooms
2.9%-81% vs US avg
x
Built Pre-1939
5.5%-57% vs US avg
x
Built Post-2014
0.7%-91% vs US avg
x
Rent Burden >30%
19.5%-61% vs US avg
x
Mortgage-Free
38.2%+0% vs US avg
x
$539,700
Home Value
$1,458
Rent
1972
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

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

  • 1-unit detached74.0%
  • 1-unit attached8.6%
  • 2-9 units10.2%
  • 10+ units4.6%
  • Mobile home & other2.6%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$539,700
Median rent$1,458
Owner-occupied80.5%
Vacant10.3%
Price-to-income4.5x
Est. income to buy$149,000