Home Values in Cumberland, Rhode Island — 2026 Market Report
Updated March 2026 | Balanced Market | +3.3% YoY
The median home value in Cumberland, Rhode Island is $415,000 as of March 2026, which is above the national median of $400,000. Home values in Cumberland have increased by 3.3% over the past year and 17.6% over the last five years. With a population of 36,405 and a median household income of $82,250, the price-to-income ratio stands at 5.0x, making Cumberland affordable for the average household.
Cumberland Housing Market Conditions
| Metric | Cumberland | National Avg |
|---|---|---|
| Median Home Value | $415,000 | $400,000 |
| YoY Appreciation | +3.3% | +3.8% |
| 5-Year Appreciation | +17.6% | +22.4% |
| Price per Sq Ft | $133 | $222 |
| Days on Market | 49 days | 45 days |
| Months of Supply | 4.7 | 3.5 |
| List-to-Sale Ratio | 96.9% | 98.5% |
| Monthly Homes Sold | 35 | — |
| Foreclosure Rate | 0.66% | 0.3% |
Home Value Trends in Cumberland
A homeowner who purchased at the median price of $352,891 five years ago in Cumberland would have gained approximately $62,109 in equity, representing a 17.6% return on investment. Over the past year alone, the typical homeowner gained $13,258 in home equity.
Affordability in Cumberland, RI
With a median household income of $82,250 and a median home price of $415,000, the price-to-income ratio in Cumberland is 5.0x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $2,610 compared to estimated monthly ownership costs of $2,535 gives a rent-vs-buy ratio of 0.97. In Cumberland, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Cumberland
The effective property tax rate in Rhode Island is 1.63%. On a home valued at $415,000, the estimated annual property tax bill is $6,765, or approximately $564/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Cumberland is 108.5 (100 = national average), indicating living costs are near the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Cumberland, RI?
The median home value in Cumberland, Rhode Island is $415,000 as of March 2026. Home values have changed +3.3% over the past year, with a 5-year appreciation of 17.6%.
Is Cumberland a buyer's or seller's market?
Cumberland is currently a balanced market with 4.7 months of housing supply. Homes spend an average of 49 days on market, and the list-to-sale price ratio is 96.9%. Supply and demand are relatively balanced.
Are home values going up in Cumberland?
Yes, home values in Cumberland have increased by 3.3% over the past year. The 5-year appreciation rate is 17.6%, meaning a home worth $352,891 five years ago is now worth $415,000.
Is it better to rent or buy in Cumberland?
The average monthly rent in Cumberland is $2,610, while estimated monthly homeownership costs are approximately $2,535. The price-to-rent ratio is 13.3. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Cumberland, Rhode Island is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.