ZIP Code · RI

ZIP 02863

Part of Central Falls, RI

Pop. 22,701·Providence County·32nd most expensive ZIP in Rhode Island

Median rent (all units)

$1,547/mo

Year-over-Year

+6.3%

Month-over-Month

+1.2%

vs US Median

-$385

Reported rents

Rising (Monthly)

Be the first to discuss 02863 rents ↓

Most AffordableMost Expensive

ZIP 02863 · $1,547

More affordable than 70% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,140

1 BR

$1,220

2 BR

$1,500

3 BR

$1,810

4 BR+

$2,150

Research median

$1,500/mo

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

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Rhode Island

Rent in ZIP 02863 changed +6.3% over the year to September 2026. Across the 25 Rhode Island ZIP codes Zillow tracks, the typical change was +4.8%.

Recent direction

Rent has risen 2 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($49,285) is $1,232 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,220); a 2-bedroom is $1,500.

From Zillow's monthly rent index (ZORI) for ZIP 02863. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,564/yr

At $1,547/mo median

Location

CityCentral Falls

StateRI

CountyProvidence County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.3% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.3% YoY, +1.2% MoM), not inventory.

Demographics

Who lives here

ZIP 02863 (Central Falls, RI) is majority renter-occupied, has a large share of families with children, has a median income below the national average, 10.8% of residents hold a bachelor's degree or higher.

Population

22,701

Median income

$49,285

Median age

32.5

Renters

74.4%

Age distribution

26.1%

27.2%

25%

Under 1826.1%

18–3427.2%

35–5425%

55–6410.9%

65+10.7%

Gender

52.5%

47.5%

Male52.5%

Female47.5%

Race & ethnicity

20.9%

69.1%

White20.9%

Black11.1%

Hispanic69.1%

Education (25+)

38.8%

31.1%

19.2%

No HS diploma38.8%

HS diploma31.1%

Some college19.2%

Bachelor's+10.8%

Housing tenure

25.6%

74.4%

Owner25.6%

Renter74.4%

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

2021 vs 2026

How ZIP 02863 in Central Falls, RI has changed in 5 years

Income

$40,235 → $49,285

up 22.5%

Population

22,192 → 22,701

up 2.3%

Renter share

74.4% → 74.4%

+0.0 pts

Bachelor's+

9.2% → 10.8%

+1.6 pts

Median age

31.6 → 32.5

+0.9 yrs

Median household income grew from $40,235 to $49,285 between 2021 and 2024, a 22.5% shift. Headcount in the area went from 22,192 to 22,701 between 2021 and 2024, a 2.3% change.

Community

Discussions about ZIP 02863

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 02863

About renting in ZIP 02863

Last updated: October 17, 2026

ZIP code 02863 covers Central Falls, RI. The median rent here is $1,547/mo as of October 2026. A 1-bedroom rents for a median of $1,220/mo. A 2-bedroom rents for a median of $1,500/mo.

At 38% of local median household income ($49,285/yr), ZIP 02863 ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02863?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (about $30/hour full-time) to afford the median rent of $1,547/mo in ZIP 02863. The local median household income is $49,285/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 02863?

Rent in ZIP 02863 has risen 6.3% over the past year.

How does ZIP 02863 compare to other ZIPs in Rhode Island?

ZIP 02863 is one of the more affordable among Rhode Island ZIP codes for rent, ranking #32 of 32 at $1,547/mo. Over the year to September 2026, rent in ZIP 02863 changed +6.3%, against a typical +4.8% across the 25 Rhode Island ZIP codes Zillow tracks.