Providence
Rhode Island · Ranked #334 of 373 metros
38Crisis
💡
Housing in Providence costs 5.16× the median income, above the national average of 4.5×. The median home price is $430K and median rent is $1,330/month. Providence ranks #334 of 373 metros for affordability.
Median Home Price
🏠$430K
Need $121K income
Median Rent
🔑$1,330
Need $58K income
Housing Shortage
📉20,000
units needed
Building Permits
🔨4,000
annual
Median Income
💰$83K
Pop: 1,676,579
Rent Burden
⚠️35.5%
of renters paying >30%
Price Change (YoY)
📈+6.5%
Homeownership
🏡63.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Providence | National |
|---|---|---|
| Price-to-Income Ratio | 5.16x | 6.1x |
| Rent Burden | 35.5% | 31.5% |
| Homeownership Rate | 63.0% | 65.5% |
| YoY Price Change | +6.5% | +3.5% |
| YoY Rent Change | +5% | +2.8% |
| Mortgage Denial Rate | 15.0% | 13.5% |
| Eviction Rate | 3.5% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +72.3%Since 2000: +230.5%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$1,318/mo
1 Bedroom$1,402/mo
2 Bedroom$1,729/mo
3 Bedroom$2,087/mo
4 Bedroom$2,480/mo
Zillow Market Data
Home Value (ZHVI)
$504K
1yr: +2.7%5yr: +41.4%
Rent (ZORI)
$2,095/mo
1yr: +4.6%5yr: +44.9%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$570K
Active Inventory
340
Days on Market
30
Sold Above List
51.2%
Price Drops
14.1%