Average Rent in Providence, RI

Providence rentals average $1,625 for a studio rental to $3,500 for a 4-bedroom rental. The median price of all currently available listings is $2,250, or roughly $2 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $200 (14.04%) year-over-year from $1,425 to $1,625. 1-bedroom rentals prices have increased by $292 (17.60%) year-over-year from $1,658 to $1,950. 2-bedroom rentals prices have increased by $183 (9.82%) year-over-year from $1,867 to $2,050. 3-bedroom rentals prices have increased by $677 (29.77%) year-over-year from $2,273 to $2,950. 4-bedroom rentals prices have increased by $292 (9.62%) year-over-year from $3,033 to $3,325. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 7.73% this month. 1-bedroom rents have gone up by 12.23% this month. 2-bedroom rents have gone down by 0.04% this month. 3-bedroom rents have gone up by 19.59% this month. 4-bedroom rents have gone up by 4.45% this month.