Business & Tech

Nearly Half of some Cranston Neighborhoods' Homes are Under Water

Zillow released data showing 43 percent of homes in the 02910 zipcode are worth less than their outstanding mortgages.

If you live in Cranston and owe more money on your house that it's worth, you're not alone.

Forty-three percent of houses in the 02910 zipcode, which includes the Auburn and Stadium neighborhoods, are under water, according to data released by the real estate tracking firm Zillow.

It's not much better in the middle of the city in Knightsville, Meshanticut, Pontiac and Oaklawn. Thirty-five percent of houses in the 02920 zip code are under water.

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One in three houses in all of Providence County, or 37 percent, are under water. 

The situation is slightly better in western Cranston, where 19 percent of homes are underwater. Along with the lower numbers is a higher average home value. The Zillow Home Value Index shows a price of $299,300 in the 02921 zip code. Consider the $141,000 price listed for the 02910 zip code.

Find out what's happening in Cranstonfor free with the latest updates from Patch.

Ted Nesi at WPRI writes the obvious: "The housing crash is still being felt across Rhode Island," he said.

Do these numbers surprise you? Are you underwater, too? Let us know in the comments and vote in the attached poll. Don't worry, nobody will be able to identify you if you vote.

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