Huntington Exchange Providence
101 Cedar St,
Providence, RI 02903
2-3 Beds | $1,875 - $2,750
Rental Market Trends in Providence, RI
What is the average rent in Providence, RI?
$1,992/month
Average Rent
700 Sq Ft
Average Apartment Size
-1.9%
Decrease in the Last Year
As of March 2025, the average rent in Providence, RI is $1,992 per month. This is 28% higher than the national average rent price of $1,558/month, making Providence one of the most expensive cities in the US. When you rent an apartment in Providence, you can expect to pay about $1,786 per month for a studio, $1,992 for a one-bedroom apartment, and around $2,588 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,220 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Providence, RI?
In the past year, rent has decreased by 1.9%, which averages out to $37 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2025
Legend
2024
2025
Rent Ranges in Providence, RI
Last Updated March 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
6%
$700 - $1,000/month
18%
$1,001 - $1,500/month
26%
$1,501 - $2,000/month
48%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Providence?
Based on current rent prices, Manton, Washington Park and Charles are the most affordable neighborhoods in Providence.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Providence?
Based on current rent prices, Downtown Providence, College Hill and East Side 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 $1,992, you’ll want to make about $6,640 per month or $79,680 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 11.6% higher than the national average. Generally, housing in Providence is 16.7% more expensive than the national average, with rent falling between $1,786 - $3,220. You can expect to pay 2.0% more for groceries, 25.4% more for utilities, and 6.7% 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.
Studio
-
$2,017/month
One Bedroom
-
$2,276/month
Two Bedroom
-
$3,292/month
Three Bedroom
-
$3,864/month
Nearby City Rent Trends
Apartment communities in Providence we think you'll love
Property Management Companies in Providence, RI
Picerne Real Estate Group
-
47
Communities
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13,813
Units
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21
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5 Communities in Providence
Brady Sullivan Properties
-
30
Communities
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4,081
Units
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18
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Diversified Funding, Inc.
-
14
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1,333
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13
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3 Communities in Providence
Bozzuto
-
373
Communities
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114,538
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154
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2 Communities in Providence
A.R. Building Company
-
58
Communities
-
9,465
Units
-
45
Cities
2 Communities in Providence
John M Corcoran & Co
-
50
Communities
-
10,240
Units
-
35
Cities
2 Communities in Providence
Forest Properties
-
26
Communities
-
4,751
Units
-
22
Cities
2 Communities in Providence
Navarino Property Group
-
20
Communities
-
1,834
Units
-
16
Cities
2 Communities in Providence
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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 February 2025.
* Percentages may not total 100 due to rounding.