Rental market snapshot for Downtown, Providence
Downtown rental market summary
The rental market in Downtown, Rhode Island is showing signs of growth. In July 2023, there were 34 new listings, a 12.6% increase from the previous month. This is a sign that more people are looking to rent in the area. The median rent in July 2023 was $2,192, a 15.3% increase from the same time last year. This suggests that demand for rental properties is increasing, and landlords are able to charge more for their properties.
Overall, the rental market in Downtown, Rhode Island is looking positive. With more new listings and higher median rents, it appears that the area is becoming a more desirable place to live. With the current trend of increasing demand, it is likely that the rental market in Downtown, Rhode Island will continue to grow in the future.
Median rent for all residential properties in Downtown
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The most expensive listings and top trending buildings in Downtown
Most Expensive Listings
Address | Rent Price | Bed / Bath |
---|---|---|
100 Exchange St | $3,700 | 2 / 1.0 |
100 Mathewson St | $3,336 | 2 / 2.0 |
100 Mathewson St | $3,281 | 2 / 2.0 |
200 Exchange St | $3,000 | 1 / 1.0 |
112 Union St | $2,975 | 2 / 2.0 |
Top Trending Buildings
building name | avg rent price |
---|---|
Nordblom Company | $2,874 |
Corcoran Management Company Inc. d/b/a John M. Corcoran & Co. | $2,629 |
Providence Realty Advisors LLC | $1,900 |
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Bedroom Breakdown in Downtown
Downtown neighborhood apartments rents
The rental market for studios in Downtown, Rhode Island is showing signs of growth. In July 2023, there were 4 new studio listings, and the median rent for studios increased by 42.9% from June 2023 to July 2023, from $2,212 to $1,262. This indicates that the demand for studios in Downtown, Rhode Island is increasing, and that the rental market is becoming more competitive.
The rental market for 1-bedroom apartments in Downtown, Rhode Island is showing signs of growth. In June 2023, there were 5 new 1-bedroom listings, representing an increase in the available rental options. The median rent for 1-bedroom apartments in June 2023 was $2,694, a 5.6% increase from the median rent in May 2023. This suggests that demand for 1-bedroom apartments in Downtown, Rhode Island is increasing, and that the rental market is becoming more competitive.
The rental market for 2-bedroom apartments in Downtown, Rhode Island is showing signs of stability. In July 2023, there were 3 new 2-bedroom listings, and the median rent for 2-bedroom apartments decreased by 2.6% from June 2023 to July 2023, from $3,370 to $3,281. This suggests that the rental market is not experiencing any drastic changes, and that the prices of 2-bedroom apartments are staying relatively consistent.