Regency Plaza
1 Regency Plaza,
Providence, RI 02903
Studio - 3 Beds | $1,855 - $4,085
Rental Market Trends in Providence, RI
Updated July 2026
The average rent in Providence, RI is $2,135/month.
Rent in Providence is 28% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,135/month
Average Rent
704 Sq Ft
Average Size
+2.4%
Change / Year
1,913
Available Apartments
Providence rent varies by unit size and layout:
- Studio apartments in Providence average $1,809 per month.
- One-bedroom apartments in Providence average $2,135 per month.
- Two-bedroom apartments in Providence average $2,667 per month.
- Three-bedroom apartments in Providence average $2,964 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Providence, RI?
In the past year, rent has increased by 2.4%, which averages out to $52 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Providence, RI
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
6%
$700 - $1,000/month
17%
$1,001 - $1,500/month
23%
$1,501 - $2,000/month
54%
Above $2,000/month
Rent by Neighborhood
What are the most expensive neighborhoods in Providence?
Based on current rent prices, Blackstone, Downtown Providence and Upper South Providence are the most expensive neighborhoods in Providence.
Neighborhood
Average Rent
Average Sq Ft
Which Providence neighborhoods have the most rentals available?
The neighborhoods in Providence with the most apartments available are Downcity, Downtown Providence and East Side .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Providence, RI?
Because the average rent in Providence is $2,135, you’ll want to make about $7,116 per month or $85,392 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Providence, RI is 10.8% higher than the national average. Generally, housing in Providence is 15.2% more expensive than the national average, with rent falling between $1,809 - $2,964. You can expect to pay 2.1% more for groceries, 28.7% more for utilities, and 0% less for transportation.
How does Providence, RI compare to other nearby cities and neighborhoods?
Use the tool below to compare Providence, RI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
View the Providence Area GuideStudio
-
-
One Bedroom
-
$2,504/month
Two Bedroom
-
$2,834/month
Three Bedroom
-
$5,203/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Providence?
The average rent in Providence is $2,135 per month, which is 28.4% higher than the national average of $1,663.
What is the average rent for a house in Providence?
The average rent for a house in Providence, RI is $2,995 per month.
What is the average rent for a townhome in Providence?
The average rent for a townhome in Providence, RI is $2,451 per month.
What is the average rent for a condo in Providence?
The average rent for a condo in Providence, RI is $1,830 per month.
Are rents going up or down in Providence?
Rents in Providence, RI are increasing, with prices up 2.4% year-over-year and $52 more per month.
What rent range is most common in Providence?
In Providence, RI, 54% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.