Market Overview
Home Prices in Cranston, RI
The median home value in Cranston, RI is $462,629 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.4% compared to a year ago and up 4.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cranston are priced13% above average. Cranston is part of the Providence-Warwick, RI-MA metro area.
Over the past five years, Cranston home values have risen by approximately31.8%, reflecting strong long-term appreciation in this market.
Price History
Cranston Home Price Trend
City Comparison
Cranston vs. National Median
At $462,629, homes in Cranston cost 13% above the national median of $410,000. Buyers in Cranston should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Cranston?
20% Down Payment
$92,526
on $462,629
Monthly P&I
$2,413/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,065/mo
incl. taxes & insurance
Income Needed
$122,600
gross annual (30% rule)
10% Down Option
$46,263
+ PMI applies
Loan Amount (20% dn)
$370,103
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cranston, RI?
The median home value in Cranston is $462,629 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.4% year-over-year.
How much have home prices changed in Cranston?
Over the past year, home values in Cranston have increased by 0.4%. Over five years, prices have risen approximately 31.8%.
How much do I need to earn to buy a home in Cranston?
To comfortably afford the median home price of $462,629 with a 20% down payment ($92,526) at today's rates (6.8%), you'd need a gross annual income of approximately $122,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Cranston compare to the national average home price?
The national median home value is approximately $410,000. At $462,629, homes in Cranston are 13% above the national average.
What metro area is Cranston part of?
Cranston is part of the Providence-Warwick, RI-MA metropolitan area. Home prices and market conditions can vary across the broader metro region.