Real Estate Investing in Hopkinton, Rhode Island (02804)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02804 (Hopkinton, RI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.0% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Hopkinton, RI (02804)?
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Market Analysis: 02804 Hopkinton
ZIP 02804 inside Washington County looks affordable on the surface — median value of $467K — but the discount exists for reasons that a careful buyer should understand before committing.
The investment case in 02804 is healthy only for operators who understand what they are buying. A $467K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Within RI, ZIP 02804 trails on several market indicators that neighboring Washington County submarkets outperform. The gap is real and solid enough to shape underwriting.
A impressive renter share of 22% in 02804 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Hopkinton:
Property Strategy for 02804
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $380,032 | $1,790 | 3.4% | +8.4% | $190,016 |
| 3BR | $455,324 | $2,230 | 3.5% | +9.2% | $151,775 |
| 4BR | $504,996 | $2,420 | 3.5% | +9.9% | $126,249 |
Market Trends
Home Value History (with trend line)
📊 How Does 02804 Compare?
| Metric | 02804 | Hopkinton | Rhode Island |
|---|---|---|---|
| Home Value | $467,084 | $498,771 | $487,363 |
| 5-Year CAGR | 6.8% | 6.4% | 8.8% |
| Avg Rent | $1,611 | $1,577 | - |
| Cap Rate | 2.7% | 2.5% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 02804 (Hopkinton, RI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $467,084 |
| Monthly Rent | $1,611 |
| Price-to-Rent | 24.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 9.5% |
📈 Home Appreciation
| 1-Year | +6.0% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 02804
Population: 2,661
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 02804
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
How expensive is real estate in Hopkinton, RI?
Median home price in Hopkinton, RI is near $467K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
What is the typical vacancy rate in Hopkinton, RI?
Occupancy in Hopkinton, RI runs even-keeled with elevated vacancy. Well-priced units at $1,611/mo lease on reasonable timelines.
What investment strategy works best in Hopkinton, RI?
In Hopkinton, RI the healthy play is typically careful cash-flow rentals with hands-on management. The combination of $467K prices and $1,611/mo rents suits that approach.
Can I house hack in Hopkinton, RI?
Hopkinton, RI is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $467K price point reasonable to enter.
Is Hopkinton, RI a friendly market for rental owners?
Hopkinton, RI falls under RI landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
You know 02804 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02804 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 02804 ranks in Providence-Warwick, RI-MA
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