What is the Best Neighborhoods USA ranking for Elmwood?
Elmwood is ranked #13 of 23 eligible neighborhoods in Providence; #50 of 69 eligible neighborhoods in RI; and #11,441 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Elmwood
Providence, RI | Providence County
Scored premium profile
Best Neighborhoods USA Index
38.5
Stability and Strength
29.8
Value Opportunity
23.1
Momentum
74.2
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Providence, RI |
| County | Providence County |
| National rank | #11,441 of 14,967 |
| State rank | #50 of 69 |
| City rank | #13 of 23 |
| County rank | #37 of 54 |
| National percentile | 23.6 |
| National band | LOWER_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $455,059 |
| Year-over-year home value change | 3.0% |
| Month-over-month home value change | 0.39% |
| Home value to income ratio | 14.03 |
| Median household income | $32,430 |
| Bachelor's degree or higher | 21.5% |
| Civilian unemployment rate | 4.8% |
| Homeownership rate | 38.3% |
| Housing vacancy rate | 4.3% |
| Rent burden 30% or higher | 60.4% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Elmwood
Is Elmwood one of the best neighborhoods in Providence?
Elmwood has a Best Neighborhoods USA Index of 38.5 and a city ranking of #13 of 23 eligible neighborhoods in Providence.
How much are homes worth in Elmwood?
The current Zillow Home Value Index for Elmwood is approximately $455,059.
Are home values rising or falling in Elmwood?
Zillow neighborhood values changed 3.0% year over year and 0.39% month over month.
What is the Neighborhood Momentum Score for Elmwood?
Elmwood has a Neighborhood Momentum Score of 74.2. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Elmwood?
The NDS-derived neighborhood median household income is approximately $32,430.
How affordable is Elmwood relative to household income?
The current Zillow home-value-to-household-income ratio is 14.03. Price-to-income affordability is a major Value Opportunity input.
Is Elmwood primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 38.3%.
What is the unemployment rate in Elmwood?
The NDS-derived civilian unemployment rate is approximately 4.8%.
How educated are residents of Elmwood?
Approximately 21.5% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Elmwood face high rent burden?
Approximately 60.4% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Elmwood?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications245
Estimated originations107
Home-purchase applications83
Origination rate43.8%
Home-purchase share33.9%
Average application loan$240,684
Total application loan amount$58,916,468
National application rank#1,591 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications -1.2% YoY; originations 7.3% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.