Providence, RI Rental Market Trends
What is the average rent in Providence?
The average rent for an apartment in Providence is $2,191. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Providence, RI
|Average Rent||Average Apartment Size|
|$2,191||836 sq. ft.|
What is the average apartment size in Providence?
The average size for a Providence, RI apartment is 836 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
Providence, RI Occupied Housing Units
28,392 or 44% of the households in Providence, RI are renter-occupied while 35,798 or 55% are owner-occupied.
Providence, RI Rent Trends
|Nov / 2018||Mar / 2019||Jul / 2019||Nov / 2019||Mar / 2020||Jul / 2020||Nov / 2020||Mar / 2021||Jul / 2021||Nov / 2021||Feb / 2022|
Average Rent in Providence, RI By Neighborhood
|Lower South Providence||$2,254|
|Upper South Providence||$2,225|
|West End Providence||$1,745|
What are the most affordable neighborhoods in Providence?
The most affordable neighborhoods in Providence are Elmwood, where the average rent goes for $1,523/month, South Elmwood, where renters pay $1,523/mo on average, and Reservoir, where the average rent goes for $1,590/mo. If you’re looking for other great deals, check out the listings from West End Providence ($1,745), Manton ($1,815), and Olneyville ($1,815), where the asking prices are below the average Providence rent of $2,191/mo.
What are the most expensive neighborhoods in Providence?
The most expensive neighborhoods in Providence are Fox Point ($2,288), Blackstone ($2,490) and Wayland ($2,490).
What are the most popular neighborhoods in Providence?
The most popular neighborhood in Providence is Downtown Providence, where there are 9 verified RentCafe listings with an average rent of $2,254. Next up is College Hill, where apartments go for $2,288/month, followed by Fox Point with $2,288 If you’re looking to rent in Providence’s most popular neighborhoods, make sure to also check out Mount Pleasant, where renters pay $2,033 on average, and Olneyville, where the average monthly rent is $1,815.
Providence | Rent Comparison by Neighborhood
Rent in Blackstone is 35% higher than in Charles
Blackstone rent is 14% higher than Providence average
Charles rent is 16% lower than Providence average