How much does it cost to rent in Providence, RI?

As of July 2026, the median monthly rent in Providence, RI is $2,293. This figure is based on aggregated data from public sources and community-submitted rents.

Is Providence cheaper than other Rhode Island cities?

Providence falls in the middle range for Rhode Island, ranking #9 out of 24 cities at $2,293/mo.

When was Providence rent data last updated?

Providence rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · RI

Providence

Name: Average Rent Prices in Providence, RI
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 191,767·9th most expensive in Rhode Island·Providence rents are up 9.1% over the past year

Median rent (all units)

$2,293/mo

Year-over-Year

+9.1%

Month-over-Month

+1.3%

vs US Median

+$328

Rising (Monthly)

Be the first to discuss Providence rents ↓

Most AffordableMost Expensive

Providence · $2,293

More expensive than 73% of US cities · National median $1,965/mo

Rent Reality Score

52/100

Fairly priced

OverheatedFairGreat value

Rents are right about where Providence's 10-year trend predicts.

Actual rent

$2,293/mo

Expected by trend

$2,318/mo

The Rent Reality Score compares today's median rent to where Providence's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,341

1 BR

$1,440

2 BR

$1,757

3 BR

$2,119

4 BR+

$2,584

Research median

$1,757/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$27,516/yr

At $2,293/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 9.1% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+9.1% YoY, +1.3% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Providence, RI is majority renter-occupied, skews toward younger working-age adults, 34.6% of residents hold a bachelor's degree or higher.

Population

191,767

Median income

$68,119

Median age

32.8

Renters

58.6%

Age distribution

20.1%

34%

24.5%

Under 1820.1%

18–3434%

35–5424.5%

55–649.9%

65+11.6%

Gender

49.1%

50.9%

Male49.1%

Female50.9%

Race & ethnicity

37.4%

45.3%

White37.4%

Black11.5%

Hispanic45.3%

Asian6.2%

Education (25+)

17.9%

27.8%

19.6%

34.6%

No HS diploma17.9%

HS diploma27.8%

Some college19.6%

Bachelor's+34.6%

Housing tenure

41.4%

58.6%

Owner41.4%

Renter58.6%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Providence, RI has changed in 5 years

Rent

$1,591 → $2,293

up 44.1%

Income

$55,787 → $68,119

up 22.1%

Population

188,812 → 191,767

up 1.6%

Renter share

59.9% → 58.6%

-1.3 pts

Bachelor's+

33.3% → 34.6%

+1.3 pts

Median age

32.1 → 32.8

+0.7 yrs

Five years ago, renters in Providence, RI paid around $1,591 a month. That figure now sits near $2,293, up 44.1% from the 2021 baseline. Median household income climbed from $55,787 to $68,119 between 2021 and 2024, a 22.1% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Providence, RI adding about 2,955 residents over the five-year window, up 1.6% on net. Taken together, the five-year picture in Providence, RI reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

Discussions about Providence

No discussions yet. Start the conversation.

View Providence rent history (2015–2026) →

Salary vs rent

Can you afford rent in Providence on your salary?

At $2,293/mo, how Providence rent compares to typical pay (30% rule).

Registered Nurse

Avg $98,259/yr · Rent = 28% income

affordable

Elementary School Teacher

Avg $69,763/yr · Rent = 39.4% income

stretched

Police Officer

Avg $80,361/yr · Rent = 34.2% income

stretched

Software Developer

Avg $143,634/yr · Rent = 19.2% income

very comfortable

Lawyer

Avg $183,529/yr · Rent = 15% income

very comfortable

Firefighter

Avg $65,322/yr · Rent = 42.1% income

rent-burdened

Truck Driver

Avg $58,978/yr · Rent = 46.7% income

rent-burdened

Electrician

Avg $72,696/yr · Rent = 37.9% income

stretched

By apartment size

Providence rent by bedroom count

Median rent for each apartment size in Providence. Click any size for full breakdown.

Local insights

Tips for renters in Providence

About renting in Providence, RI

Last updated: July 20, 2026

The median rent in Providence is $2,293/mo as of July 2026. A studio apartment averages $1,341/mo while a 2-bedroom runs $1,757/mo. One-bedroom apartments average $1,440/mo and 3-bedroom units go for $2,119/mo.

At 40% of local median household income ($68,119/yr), Providence ranks as moderate compared to the national benchmark of 30%. Rents have increased 9.1% over the past year.

FAQ

Frequently asked questions

Is Providence an affordable city for renters?

Providence is considered moderate for renters. At $2,293/mo, rent takes approximately 40% of the local median household income ($68,119/yr). The standard benchmark is 30%. Providence slightly exceeds that threshold, so budgeting carefully matters here.

How much income do you need to rent in Providence?

To keep rent at or below 30% of gross income, you would need to earn at least $92,000/year (~$44/hour full-time) to afford the median rent of $2,293/mo in Providence. The local median household income is $68,119/yr, meaning the typical Providence household falls short of that threshold.

Is rent going up or down in Providence?

Rent in Providence has increased 9.1% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Providence neighborhoods have the lowest rent?

The most affordable ZIP codes in Providence are 02904 ($1,903/mo), 02907 ($1,911/mo), and 02909 ($2,000/mo). Citywide, the median rent in Providence is $2,293/mo.

How does Providence rent compare to other cities in Rhode Island?

Providence is middle-of-the-pack for Rhode Island for rent, ranking #9 out of 24 tracked cities at $2,293/mo.

Which nearby cities are cheaper to rent in than Providence?

Several nearby cities have lower median rents than Providence ($2,293/mo): Central Falls ($1,721/mo), Pawtucket ($1,872/mo), East Providence ($1,908/mo).

What percentage of Providence residents rent vs. own?

According to Census data, approximately 58.6% of Providence households are renters, while 41.4% are owner-occupied. With a majority renter population, Providence has a strong rental market.

How does Providence rent compare to the national average?

Providence's median rent of $2,293/mo is $328 (17%) above the US national median of $1,965/mo. Within Rhode Island, it ranks #9 out of 24 tracked cities.

Income Affordability

40%

MODERATE

At $2,293/mo, rent takes ~40% of Providence's median household income ($68,119/yr). The standard benchmark is 30%.

Providence 40%Benchmark 30%

State income tax3.75–5.99%

Run the Providence affordability calculator →

Nearby cities