Analysis: Woonsocket better
home-value buy than Providence

AN ANALYSIS BY personal finance website GOBankingRates found Woonsocket, home to the Stadium Theatre, is a better alternative to Providence for homebuyers who want to see the value of their homes improve more quickly. / COURTESY STADIUM THEATRE PERFORMING ARTS CENTRE/JORDAN W. HARRIS
AN ANALYSIS BY personal finance website GOBankingRates found Woonsocket, home to the Stadium Theatre, is a better alternative to Providence for homebuyers who want to see the value of their homes improve more quickly. / COURTESY STADIUM THEATRE PERFORMING ARTS CENTRE/JORDAN W. HARRIS

WOONSOCKET – A national website that evaluated communities within 15 expensive metro areas found Woonsocket was a good buy.

The analysis by personal finance website GOBankingRates determined that while Providence had higher increases in home values compared to many other cities in its study, more than 9% of the city’s mortgages were underwater and property crime was the highest in the metro area at 33.5 incidents per 1,000 residents.

The analysis found Woonsocket is a better alternative to Providence for homebuyers who want to see the value of their homes improve more quickly. By comparison, Woonsocket had a smaller percentage of underwater mortgages, along with home values that increased 62.2% over five years.

For the full analysis, click here.

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Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.

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