Rental market snapshot for Providence, Rhode Island

Providence, Rhode Island Rental Property Market Overview

Providence, Rhode Island is the capital and most populous city in the state, with a population of 189,692 as of 2021, according to the US Census. Located in the heart of the state, Providence is a vibrant city with a rich history and culture. It is home to a variety of attractions, including the Rhode Island State House, the Roger Williams Park Zoo, and the WaterFire Providence art installation. The city is also known for its diverse dining scene, with a variety of restaurants offering everything from classic Italian dishes to modern American cuisine. Providence is a great place to visit for its unique attractions, delicious food, and friendly people.

The average rent for an apartment in Providence is $1,981. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has increased by 1.8% over the past year.

Last Updated January 31, 2023

Average monthly rent graph in Providence Rhode Island | Cost of Living

  • The most expensive ZIP Code in Providence is 02906 with an average price of $2,800
  • The cheapest ZIP Code in Providence is 02905 with an average price of $1,125

Providence ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
102906$2,800
202903$2,462
302907$2,270
402908$2,005
502909$2,000
602904$1,548
702905$1,125

Live near Providence, Rhode Island's Top Sights and Attractions

Davis Park is a picturesque green space located on the banks of the Providence River. It features a large grassy area, perfect for picnics and outdoor activities, as well as a playground for children. The park also has a walking path that winds along the river, offering stunning views of the city skyline. There is also a boat launch for kayaks and canoes, and a fishing pier for anglers.

Roger Williams Gateway is a beautiful park located on the banks of the Providence River. It features a variety of lush green spaces, walking paths, and scenic views of the river and downtown Providence. The park also includes a large fountain, a memorial to Roger Williams, and a variety of sculptures and monuments. Visitors can also enjoy a variety of activities such as kayaking, fishing, and bird watching.

Station Park is a historic outdoor area located in the heart of the city. It features a large grassy area surrounded by a variety of trees, shrubs, and flowers. The park also includes a picturesque pond, a gazebo, and a bandstand. Visitors can enjoy a variety of activities such as picnicking, fishing, and playing lawn games. The park also hosts a variety of events throughout the year, including concerts, festivals, and outdoor movies.

Roger Williams Park is a sprawling 400-acre urban oasis located in the heart of Rhode Island's capital city. It features a variety of attractions, including a zoo, a museum of natural history, a botanical center, a carousel village, a lake, and a variety of walking and biking trails. The park also features a variety of gardens, including a rose garden, a Japanese garden, and a Victorian garden. There are also several playgrounds, picnic areas, and sports fields. The park is a popular destination for locals and visitors alike, offering a peaceful escape from the hustle and bustle of city life.

Donigian Park is a beautiful urban oasis located in the heart of the city. It features a large pond, lush green lawns, and a variety of trees and shrubs. Visitors can enjoy a variety of activities such as fishing, boating, and picnicking. There is also a playground for children, and a walking path that winds through the park. The park is a great place to relax and enjoy the outdoors.

Whipples Pond is a picturesque spot located in a residential area of Rhode Island. It is a popular spot for locals and visitors alike, offering a peaceful atmosphere and plenty of outdoor activities. The pond is surrounded by lush greenery and is home to a variety of wildlife, including ducks, geese, and other waterfowl. Visitors can take a leisurely stroll around the pond, go fishing, or even rent a canoe or kayak to explore the area. The pond is also a great spot for birdwatching, with a variety of species of birds to be seen.

Waterplace Park is a picturesque urban oasis located in the heart of the city. It features a four-acre cobblestone plaza surrounded by a series of interconnected canals and rivers. Visitors can take a leisurely stroll along the cobblestone pathways, admire the cascading waterfalls, and take in the views of the city skyline. The park also features a variety of sculptures, fountains, and other artwork, as well as a variety of restaurants and cafes. During the summer months, the park hosts a variety of festivals and events, including outdoor concerts and movies.

Memorial Park is a large, lush green space located in the heart of the city. It is a popular spot for locals and visitors alike, offering a variety of activities and amenities. Visitors can enjoy a variety of outdoor activities such as walking, jogging, biking, and picnicking. There is also a large pond with a fountain, a playground, and a memorial to those who have served in the military. The park is also home to a variety of wildlife, including ducks, geese, and other birds.

Amos Earley Park is a beautiful green space located in the heart of the city. It features a large pond, walking trails, and plenty of open space for picnicking, playing sports, or just relaxing. The park also has a playground, a gazebo, and a pavilion for outdoor events. In the summer, the park hosts a variety of outdoor concerts and festivals. The park is a great place to spend a day with family and friends, or to just take a peaceful stroll.

Triggs Memorial Golf Course is an 18-hole public golf course located in a picturesque setting. It features a challenging layout with rolling hills, tree-lined fairways, and water hazards. The course is well-maintained and offers a variety of amenities, including a driving range, practice green, and pro shop. It also has a clubhouse with a restaurant and bar. The course is open year-round and is a popular destination for golfers of all skill levels.

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Providence, Rhode Island area median rent change by ZIP Code map

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How does Providence compare to other cities in Rhode Island ?

citymedian price
West Greenwich$3,297
Providence$2,300
West Warwick$1,540
Newport$2,500
North Providence$1,550
Cumberland$1,872
Coventry$1,600
Providence$1,810
Cumberland$1,750
Pawtucket$1,595

Average household income in Providence area graph - US Census

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The median household income in Providence in 2021 was $49,065. This represents a 26.1% change from 2011 when the median was $38,922.

#categorypercent
0Less than $10,0009.3%
1$10,000 to $14,9998.2%
2$15,000 to $19,9996.2%
3$20,000 to $24,9995.4%
4$25,000 to $29,9994.4%
5$30,000 to $34,9994.3%
6$35,000 to $39,9994.8%
7$40,000 to $44,9994.9%
8$45,000 to $49,9993.1%
9$50,000 to $59,9997.0%
10$60,000 to $74,99910.1%
11$75,000 to $99,99911.3%
12$100,000 to $124,9996.4%
13$125,000 to $149,9994.4%
14$150,000 to $199,9994.7%
15$200,000 or more5.6%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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