Rhode Island is the smallest state in the nation with a total area of only 1,545 square miles. The state, however, has a surprisingly high population given its size at 1 million people. The population compared by density is actually rated as the second highest for the nation. Many people find the smaller state a perfect place to live. Waterfront homes and resort type property have become very popular along the East Coast for new home buyers in the market. Rhode Island offers beautiful beaches which have become a hotbed for new housing developments. In recent years, many top builders have started to focus on this smaller market.

Contrary to its name itself, the majority of Rhode Island is actually mainland. The main part of the state is Western Rhode Island located between Connecticut and Massachusetts. Separating Western Rhode Island from Massachusetts is Aquidneck Island (an actual island by definition) and various other islands that make up what is known as Eastern Rhode Island. The geography of the state offers a very flat but beautiful layout to residents. The highest point in the state is only 812 ft above sea level. Read more »

Western Rhode Island is home to its capitol and largest city, Providence. Providence is a major city just like any other despite the fact that the state is the smallest in the country. The city has a population of only 171,557 living in the city limits, but has numerous attractions and opportunities available. Major businesses like Textron, a fortune 500 company, and many others are headquartered in the downtown area. The city also offers a number of attractions like Waterfire, a summer music and arts festival held in the downtown area; various historical sites which include famous homes and early establishments; and several different professional sporting events. The major sports teams in the state play a large role in neighboring Boston’s sports culture. Both the Pawtucket Red Sox and the Providence Bruins are minor league teams that support their major league counterparts. Brown University is also located in the Providence area and helps bring in college students from all over the country. The university also plays a large role in creating numerous jobs for residents in the area.

Sales Trends
Housing sales in the state are much smaller by volume giving the nature of the size compared to other markets. However, for the size that it is, the state actually has a lot of building activity happening. Many people are finding the Rhode Island lifestyle intriguing. Most of the new homes being built are in the smaller cities as they become more developed. Attractive, smaller cities have a lot more building permits than the larger cities in the state. Small towns like Coventry and Westerly have benefitted from their ideal location and large amount of land available. Coventry had a total of 175 permits in 2007 compared to Providence with only 47. Builders are focusing on providing beautiful, luxurious lots in the smaller towns like Coventry to attract new buyers. Buyers are interested in the small town feel and beautiful ocean front scenery that the state provides. Building activity should increase in the state as smaller, undeveloped towns become the focus for housing activity. Additional information on individual town activity is available at Rhode Island Builders Association  « Close »