ZIP Code 02806 Housing Market

📝 Local Market Notes

ZIP code 02806 in Bristol County, Rhode Island, exhibits a robust upward price trajectory over the last five years. The FHFA House Price Index (HPI) has risen from 229.39 in 2021 to 342.27 in 2025, representing a cumulative appreciation of approximately 49.2%. This consistent growth indicates sustained demand within the sub-market, outpacing broader regional trends. The recent year-over-year increase of 7.26% further underscores the momentum, positioning 02806 as a high-growth area within the county. This performance signals a notable divergence from wider geographic averages. While the Bristol County median home value has grown by 4.72% and the state of Rhode Island by 4.59% year-over-year, ZIP 02806’s 7.26% gain exceeds both benchmarks significantly. This outperformance suggests that specific local factors are driving demand, likely related to limited inventory or unique neighborhood amenities that distinguish it from neighboring ZIPs such as 02885 and 02809, which show more moderate growth rates of 3.41% and 2.32%, respectively. The disparity highlights that 02806 is not merely following county trends but is leading them. The sub-market character aligns with premium residential demand. With a parent county median home value of $513,800 and an owner-occupancy rate of 71.8%, the area supports a stable, homeowner-centric environment. The HPI level of 342.3, which is 242% above the 2000 baseline, reflects significant equity accumulation. For prospective buyers, the current 7.40% 30-year mortgage rate combined with high appreciation rates implies substantial entry costs. Residents should anticipate continued strong equity growth, though the rapid pace of price increases may limit affordability for entry-level buyers compared to slower-growing neighboring ZIPs. The data confirms 02806 as a high-value, high-growth segment within Bristol County.

Based on FHFA House Price Index data.