Real Estate Investing in Cranston, Rhode Island (02920)
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Should you buy in 02920 (Cranston, RI)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Cranston, RI (02920)?
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Market Analysis: 02920 Cranston
Investors eyeing 02920 need to respect the fundamentals at play. Home values of $460K come alongside slower price movement and elevated management overhead.
For an experienced owner, 02920 can be a worth a close look for hunting ground — but the discount at $460K reflects genuine risk that outside investors often underestimate.
Regionally, 02920 sits on the difficult end of the RI spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 02920 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategy in 02920 is an operator game, not a passive one. Turning to rents, entry prices of $460K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Cranston:
Property Strategy for 02920
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $273,903 | $1,530 | 4.0% | +11.8% | $273,903 |
| 2BR | $382,829 | $1,890 | 3.6% | +9.2% | $191,415 |
| 3BR | $451,799 | $2,280 | 3.6% | +8.7% | $150,600 |
| 4BR | $504,630 | $2,710 | 3.9% | +9.0% | $126,157 |
| 5BR | $539,641 | — | — | +9.4% | $107,928 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02920 Compare?
| Metric | 02920 | Cranston | Rhode Island |
|---|---|---|---|
| Home Value | $459,943 | $508,994 | $487,363 |
| 5-Year CAGR | 6.9% | 6.9% | 8.8% |
| Avg Rent | $2,147 | $2,197 | - |
| Cap Rate | 3.6% | 3.4% | - |
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 02920 (Cranston, RI). Anonymous, moderated, never written by AI.
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Property managers serving Providence County
Manage rentals here? List your business →Ferland Corporation provides professional management services for over 2,600 apartment units in the Rhode Island area, offering quality apartments and amenities. summary from their website
Zanno Property Management offers residential and multi-family property management services in Providence, including marketing, resident screening, rent collection, maintenance, accounting, and evictio summary from their website
Avellino Construction & Property Management offers property management, general contracting, investments & lending, and rentals in Providence, RI. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $459,943 |
| Monthly Rent | $2,147 |
| Price-to-Rent | 17.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.6% |
| Cap Rate | 3.6% |
| 5-Year IRR | 10.5% |
📈 Home Appreciation
| 1-Year | +7.4% ▲ |
| 3-Year CAGR | +6.2% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 Rent Trends
| 1-Year | +9.5% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). 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 02920
Population: 36,332
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 02920
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 does Cranston, RI rate as a rental market?
Cranston, RI rates 3.0/5 for investability. With median values at $460K and rents near $2,147/mo, the market offers reasonable fundamentals for rental investors.
How tight is the rental market in Cranston, RI?
Vacancy risk in Cranston, RI is elevated. That supports stable cash flow for typical rental holds.
How strong are rents in Cranston, RI?
Investors in Cranston, RI typically see rents near $2,147/mo per month against $460K home values - a solid setup for rental cash flow.
Does house hacking work in Cranston, RI?
House hacking in Cranston, RI is reasonable to execute. Prices around $460K and rents of $2,147/mo solid owner-occupant economics.
What is the median home value in Cranston, RI?
Expect median prices around $460K in Cranston, RI. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
You know 02920 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02920 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 02920 ranks in Providence-Warwick, RI-MA
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