Real Estate Investing in Cranston, Rhode Island (02921)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 02921 (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 (02921)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 02921 Cranston
Not every below-median market is a bargain. Cranston's 02921 ZIP registers signals that favor experienced operators who can absorb the risk $653K pricing implies.
The 02921 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 02921 sits on the difficult end of the RI spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 02921 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
New investors are better served looking at Cranston's stable or hybrid ZIPs before stepping into 02921. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Cranston:
Property Strategy for 02921
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $433,331 | $2,140 | 3.6% | +8.7% | $216,666 |
| 3BR | $630,850 | $2,580 | 2.9% | +9.1% | $210,283 |
| 4BR | $809,711 | $3,070 | 2.7% | +9.6% | $202,428 |
| 5BR | $883,936 | — | — | +10.2% | $176,787 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 02921 Compare?
| Metric | 02921 | Cranston | Rhode Island |
|---|---|---|---|
| Home Value | $653,111 | $508,994 | $487,363 |
| 5-Year CAGR | 6.9% | 6.9% | 8.8% |
| Avg Rent | $2,600 | $2,197 | - |
| Cap Rate | 3.1% | 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 02921 (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 | $653,111 |
| Monthly Rent | $2,600 |
| Price-to-Rent | 20.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 10.0% |
📈 Home Appreciation
| 1-Year | +5.6% ▲ |
| 3-Year CAGR | +6.0% ▲ |
| 5-Year CAGR | +6.9% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 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 (3.1%). 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 02921
Population: 12,673
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 02921
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Gladstone Street School
Garden City School
Western Hills Middle School
Arlington School
George J. Peters School
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
Investor Insight: With 596 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are rents high in Cranston, RI?
The typical rental in Cranston, RI commands about $2,600/mo monthly. That rent profile steady cash flow against the $653K purchase basis.
Is vacancy a concern in Cranston, RI?
Vacancy in Cranston, RI is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,600/mo.
Is Cranston, RI a good place for real estate investing?
Cranston, RI scores 3.0/5 for investability. Home values sit at $653K and rents near $2,600/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
What is the best play in Cranston, RI?
Investors usually favor careful cash-flow rentals with hands-on management in Cranston, RI. With home values at $653K and rents near $2,600/mo, other strategies can work but produce even-keeled rather than outsized returns.
What is the median home value in Cranston, RI?
Median home price in Cranston, RI is near $653K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
You know 02921 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 02921 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 02921 ranks in Providence-Warwick, RI-MA
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