How much is a home worth in ZIP code 02861?

The typical home in 02861 is worth $399,142, based on the Zillow Home Value Index.

Are home values rising in 02861?

Home values in 02861 are up 1.2% over the past year, and up 7.0% a year over five years.

What is the typical rent in 02861?

A typical home in 02861 rents for about $1,814 a month, a gross rental yield of 5.5%.

What is the property tax rate in 02861?

The effective property tax rate in 02861 is 1.3% — roughly $5,206 a year on a typical home.

ZIP code 02861 has a population of 28,124 and a median household income of $83,411.

HousingHandbookReference data

…

U.S. ZIP Code · RI02861

Providence County · Providence-Warwick, RI-MA

Typical home value

$399,142^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +1.2%
5-year / yr: +7.0%
10-year / yr: +8.4%

Relative price

vs U.S.: +40.5%
vs metro: -23.2%
vs state: -22.1%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 02861 is worth $399,142 — 23.2% below the Providence-Warwick, RI-MA median. Over the past year, values have risen 1.2%. Homes here rent for a typical $1,814 a month — a 5.5% gross rental yield. The effective property tax rate is 1.3%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,814^[2]
Gross yield: 5.5%^[2]
Cap rate: 3.3%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.3%^[3]
Typical annual tax: $5,206^[3]

#Climate risk

FEMA National Risk Index ratings for Providence County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively High
Coastal flood: Relatively Low
Wildfire: Very Low
Drought: Relatively Low
Heat wave: Relatively High
Hurricane: Relatively Moderate
Tornado: Relatively Moderate
Earthquake: Relatively Low
Winter weather: Relatively Low

#Who lives here

Population: 28,124^[3]
Median household income: $83,411^[3]

#Migration

Household moves in and out of Providence County over a year, from IRS tax-return data.

Net migration: -138^[5]
Moved in: 14,188
Moved out: 14,326

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 7
Elementary: 6
Middle: 1
High: 0

Lyman B. Goff Middle School
Middle · Grades 6–8 · Pawtucket
630 students
Fallon Memorial School
Elementary · Grades PK–5 · Pawtucket
549 students
Potter-Burns School
Elementary · Grades K–5 · Pawtucket
425 students
Nathanael Greene School
Elementary · Grades PK–5 · Pawtucket
404 students
Flora S. Curtis School
Elementary · Grades PK–5 · Pawtucket
336 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.5%

Net yield (after ~40% expenses)3.3%

Annual rent$21,765

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,018

Loan principal$319,313

Down payment$79,828

Total interest paid$407,267

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.53

Monthly cost to own$2,783

Monthly rent$1,814

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 59th percentile^[1]
Rental yield: 68th percentile^[2]
Property tax: 83rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 02861?: The typical home in 02861 is worth $399,142, based on the Zillow Home Value Index.
Are home values rising in 02861?: Home values in 02861 are up 1.2% over the past year, and up 7.0% a year over five years.
What is the typical rent in 02861?: A typical home in 02861 rents for about $1,814 a month, a gross rental yield of 5.5%.
What is the property tax rate in 02861?: The effective property tax rate in 02861 is 1.3% — roughly $5,206 a year on a typical home.
Who lives in 02861?: ZIP code 02861 has a population of 28,124 and a median household income of $83,411.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

02907 vs 02861 →
Providence, RI
Typical home
$398,621
Gross yield
5.8%
02904 vs 02861 →
Providence, RI
Typical home
$397,965
Gross yield
5.5%
02893
RI
Typical home
$402,801
Gross yield
5.5%
02910
Cranston, RI
Typical home
$405,839
Gross yield
6.1%
02860
Pawtucket, RI
Typical home
$391,354
Gross yield
5.3%
02888
Warwick, RI
Typical home
$411,059
Gross yield
—

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#Jump to section

U.S. ZIP Code · RI02861

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