Average Rent in Providence, MA↑ Rents rising 8.7% YoY

Providence, MA has rental prices ranging from $1,423/month to $2,615/month in 2027, depending on unit size. The typical 1-bedroom apartment rents for $1,509/month — 8% above the national average of $1,400/month. With a median household income of $85,646/year, spending $1,509/month on a 1-bedroom represents 21% of gross income — within the recommended 30% threshold.

How Providence Compares

With an average 2-bedroom rent of $1,879/month, Providence ranks #15 most expensive of the 22 cities tracked in Massachusetts — pricier than 96% of all US cities in our data.

The Providence Rental Market

The Providence, MA area has a population of about 1,673,807 and 37% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Providence, MA have risen by $150/month (8.7%) over the past year, from $1,729 to $1,879. This rate of increase is significant and reflects strong rental demand and limited housing supply in the local market.

Affordability

To afford a 1-bedroom apartment in Providence, MA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $60,360. The local median household income of $85,646 exceeds that threshold by $25,286, making Providence relatively accessible compared to local wages.

Is Providence, MA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Providence?

Break-even analysis and mortgage estimates based on local market data.

Living in Providence

Cost of living, job market, crime rates, and moving cost estimates.