Metro area index
Home appreciation in the Providence-Warwick, RI-MA metro area
FHFA HPI® data shows the Providence-Warwick, RI-MA metro area's all-transactions index changed +4.7% over the year to Q2 2026, versus +5.0% for Rhode Island and +3.0% for the U.S. That ranks 121st of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +4.7%
- 5-year change
- +51.9%
- Since Q1 1995
- +353%
- Metro rank (1 year)
- 121st
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Providence-Warwick, RI-MA vs Rhode Island and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Providence-Warwick, RI-MA: 452.6
- Rhode Island: 455.9
- United States: 391.6
Appreciation by time window
| Window | Metro | RI | U.S. | Gap vs RI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +4.7% | +5.0% | +3.0% | −0.3 pts | +1.7 pts |
| 3 years | +21.0% | +22.1% | +12.9% | −1.0 pts | +8.2 pts |
| 5 years | +51.9% | +55.6% | +41.3% | −3.7 pts | +10.6 pts |
| 10 years | +112% | +120% | +93.3% | −8.1 pts | +18.5 pts |
| Since Q1 1995 | +353% | +356% | +292% | −3.3 pts | +61.1 pts |
3-digit ZIP regions in the Providence-Warwick, RI-MA area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 028 · Warwick, RI area | RI | +5.4% | +54.9% | +357% | 100% |
| 029 · Providence, RI area | RI | +4.2% | +57.2% | +351% | 100% |
| 027 · New Bedford, MA area | MA | +4.1% | +45.1% | +348% | 95% |
Boom, bust, and recovery in Providence-Warwick, RI-MA area
Providence-Warwick, RI-MA area's index peaked in Q1 2006, fell 26.0% to its low in Q2 2012, and regained its peak in Q1 2020, about 14 years after the top. Today it sits +75.4% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q1 2006 | Q2 2012 | -26.0% | Q1 2020 (14 yrs) | +75.4% |
| RI | Q2 2006 | Q4 2013 | -27.6% | Q3 2020 (14.2 yrs) | +77.8% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Providence-Warwick, RI-MA area's index has changed +104% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | RI after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +0.8% | +1.1% | -0.8% |
| 3 years | +9.8% | +10.2% | +11.2% | +2.8% |
| 5 years | +24.0% | +22.5% | +25.4% | +13.9% |
| 10 years | +39.1% | +52.3% | +58.2% | +39.0% |
| Since Q1 1995 | +121% | +104% | +106% | +76.8% |
If you bought in the Providence-Warwick, RI-MA area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +346% | $1,339,304 |
| Q2 2000 | +257% | $1,071,929 |
| Q2 2005 | +82.8% | $548,522 |
| Q2 2010 | +123% | $670,445 |
| Q2 2015 | +121% | $661,658 |
| Q2 2020 | +73.2% | $519,559 |
| Q2 2021 | +51.9% | $455,816 |
| Q2 2023 | +21.0% | $363,100 |
| Q2 2025 | +4.7% | $314,086 |
Frequently asked questions
- How much have home prices risen in the Providence-Warwick, RI-MA area?
- FHFA HPI® data for the Providence-Warwick, RI-MA metro area shows changes of +4.7% over one year, +51.9% over five years, and +112% over ten years to Q2 2026, and +353% since Q1 1995.
- Is the Providence-Warwick, RI-MA area beating the national average?
- Over the past year the metro's index moved +1.7 pts versus the U.S.; over five years the gap is +10.6 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.