Providence, RI Rental Market Trends
What is the average rent in Providence?
The average rent for an apartment in Providence is $2,080, a 10% increase compared to the previous year.
Average Rent in Providence, RI
|Average Rent||Y-o-Y Change||Average Apartment Size|
|$2,080||10%||813 sq. ft.|
What is the average apartment size in Providence?
The average size for a Providence, RI apartment is 813 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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
- > $2,00041%
Providence, RI Occupied Housing Units
- Renter-occupied Households43%
- Owner-occupied Households56%
26,708 or 43% of the households in Providence, RI are renter-occupied while 34,983 or 56% are owner-occupied.
Providence, RI Rent Trends
|Mar / 2018||Jul / 2018||Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Mar / 2020||Jul / 2020||Nov / 2020||Mar / 2021||May / 2021|
Average Rent in Providence, RI By Neighborhood
|Lower South Providence||$2,085|
|Upper South Providence||$2,060|
|West End Providence||$1,585|
What are the most affordable neighborhoods in Providence?
The most affordable neighborhoods in Providence are Elmwood, where the average rent goes for $1,361/month, South Elmwood, where renters pay $1,361/mo on average, and Reservoir, where the average rent goes for $1,423/mo. If you’re looking for other great deals, check out the listings from Charles ($1,539), West End Providence ($1,585), and Manton ($1,655), where the asking prices are below the average Providence rent of $2,080/mo.
What are the most expensive neighborhoods in Providence?
The most expensive neighborhoods in Providence are Fox Point ($2,131), Blackstone ($2,442) and Wayland ($2,442).
What are the most popular neighborhoods in Providence?
The most popular neighborhood in Providence is Downtown Providence, where there are 8 verified RENTCafé listings with an average rent of $2,085. Next up is Fox Point, where apartments go for $2,131/month, followed by Wanskuck with $1,706 If you’re looking to rent in Providence’s most popular neighborhoods, make sure to also check out Silver Lake, where renters pay $1,655 on average, and College Hill, where the average monthly rent is $2,131.
Providence | Rent Comparison by Neighborhood
Rent in Blackstone is 59% higher than in Charles
Blackstone rent is 17% higher than Providence average
Charles rent is 26% lower than Providence average
How Providence Compares to Other Cities
|Average Rent||Y-o-Y Change|