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Prices and availability in Rhode Island were last updated on 22 Aug 2026.
The best apartments in Rhode Island are: Nightingale Apartments, Fairfax Village, East Bay Village, Harbor Village and Villa Del Rio.
In Rhode Island, 36% of the residents are renting compared to 64% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 16% of Rhode Island's rentals, 71% are small-scale complexes with under 50 units, and 13% are single-family rentals.
Searching for apartments for rent in Rhode Island under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away.
Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Rhode Island. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Rhode Island going for $120 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.
