ZIP Code · RI

ZIP 02908

Part of Providence, RI

Pop. 39,500·Providence County·16th most expensive ZIP in Rhode Island

Median rent (all units)

$2,136/mo

Year-over-Year

+8.5%

Month-over-Month

+0.9%

vs US Median

+$204

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 02908 · $2,136

More expensive than 68% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,320

1 BR

$1,400

2 BR

$1,730

3 BR

$2,090

4 BR+

$2,480

Research median

$1,730/mo

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

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 02908 is at its highest level since Zillow's records here began in May 2022.

Past year vs. the rest of Rhode Island

Rent in ZIP 02908 changed +8.5% 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 5 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($73,081) is $1,827 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,090.

Rank in Providence

5th cheapest of 7 ZIP codes in Providence.

Cheaper nearby

ZIP 02904, 1 mile away, rents for 14% less ($1,833/mo), about $3,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 02908. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,632/yr

At $2,136/mo median

Location

CityProvidence

StateRI

CountyProvidence County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 8.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+8.5% YoY, +0.9% MoM), not inventory.

Demographics

Who lives here

ZIP 02908 (Providence, RI) is roughly split between renters and owners, skews toward younger working-age adults, 26.9% of residents hold a bachelor's degree or higher.

Population

39,500

Median income

$73,081

Median age

33.9

Renters

54%

Age distribution

21.9%

30.8%

24.9%

Under 1821.9%

18–3430.8%

35–5424.9%

55–6411.9%

65+10.5%

Gender

50.1%

49.9%

Male50.1%

Female49.9%

Race & ethnicity

37.7%

13.6%

44%

White37.7%

Black13.6%

Hispanic44%

Asian4.8%

Education (25+)

17.5%

29.7%

25.9%

26.9%

No HS diploma17.5%

HS diploma29.7%

Some college25.9%

Bachelor's+26.9%

Housing tenure

46%

54%

Owner46%

Renter54%

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

2023 vs 2026

How ZIP 02908 in Providence, RI has changed in 5 years

Rent

$1,729 → $2,136

up 23.5%

Income

$63,775 → $73,081

up 14.6%

Population

38,977 → 39,500

up 1.3%

Renter share

50.7% → 54%

+3.3 pts

Bachelor's+

29.5% → 26.9%

-2.6 pts

Median age

34.8 → 33.9

-0.9 yrs

The median rent in ZIP 02908 in Providence, RI stood at $1,729 in 2023 and currently runs about $2,136, reflecting a 23.5% increase over the period. Local incomes tracked alongside that move, going from a median of $63,775 in 2021 to $73,081 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.3% since 2021, moving from about 38,977 residents to roughly 39,500. Renters now make up 54% of households, compared with 50.7% five years ago. College-educated residents now make up 26.9% of adults here, versus 29.5% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 02908 in Providence, RI market of 2023.

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About renting in ZIP 02908

Last updated: October 17, 2026

ZIP code 02908 covers Providence, RI. The median rent here is $2,136/mo as of October 2026. A 1-bedroom rents for a median of $1,400/mo. A 2-bedroom rents for a median of $1,730/mo.

At 35% of local median household income ($73,081/yr), ZIP 02908 ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 02908?

To keep rent at or below 30% of gross income, you would need to earn at least $85,000/year (about $41/hour full-time) to afford the median rent of $2,136/mo in ZIP 02908. The local median household income is $73,081/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 02908?

Rent in ZIP 02908 has risen 8.5% over the past year as of September 2026. That is the highest level since Zillow's records here began in May 2022.

How does ZIP 02908 compare to other ZIPs in Rhode Island?

ZIP 02908 is in the middle among Rhode Island ZIP codes for rent, ranking #16 of 32 at $2,136/mo. Over the year to September 2026, rent in ZIP 02908 changed +8.5%, against a typical +4.8% across the 25 Rhode Island ZIP codes Zillow tracks.