Providence, RI Rental Market Trends
The average rent for an apartment in Providence is $1,943, a 6% increase compared to the previous year.
Average Rent in Providence, RI
|Average Rent||Y-o-Y Change||Average Apartment Size|
|$1,943||6%||817 sq. ft.|
The average size for a Providence, RI apartment is 817 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Providence, RI Apartment Rent Ranges
- > $2,00036%
Providence, RI Occupied Housing Units
- Renter-occupied Households42%
- Owner-occupied Households57%
26,566 or 42% of the households in Providence, RI are renter-occupied while 35,491 or 57% are owner-occupied.
Providence, RI Rent Trends
|Jan / 2019||Aug / 2019|
Average Rent in Providence, RI By Neighborhood
|West End Providence||$1,532|
|Upper South Providence||$1,967|
|Lower South Providence||$1,991|
The most affordable neighborhoods in Providence are Elmwood, where the average rent goes for $1,337/month, South Elmwood, where renters pay $1,337/mo on average, and Reservoir, where the average rent goes for $1,372/mo. If you’re looking for other great deals, check out the listings from Charles ($1,397), West End Providence ($1,532), and Manton ($1,593), where the asking prices are below the average Providence rent of $1,943/mo.
Providence | Rent Comparison by Neighborhood
Rent in Blackstone is 66% higher than in Charles
Blackstone rent is 19% higher than Providence average
Charles rent is 28% lower than Providence average
How Does Providence Compare to Nearby Cities
|Average Rent||Y-o-Y Change|
For more information about the Providence rental trends, check out our monthly rent report