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City · 191,767 residents · Providence County, Rhode Island

Providence , Rhode Island

In Providence, a typical home is worth $362,200 and typical rent is $1,408 a month. Compared with all of Providence County, typical household income is 14% lower, typical rent is 7% higher, and the share of households that own their home is 16 points lower.

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  • Typical home value

    $362,200

    3% below the county

    10% below Rhode Island

    • Providence
    • County
    • Rhode Island

  • Typical rent

    $1,408a month

    7% above the county

    5% above Rhode Island

    • Providence
    • County
    • Rhode Island

  • Typical household income

    $68,119a year

    14% below the county

    22% below Rhode Island

    • Providence
    • County
    • Rhode Island

  • Households that own their home

    41%

    16 points below the county

    22 points below Rhode Island

    • Providence
    • County
    • Rhode Island

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$431,740
2.3% more than 12 months ago
Typical rent
$2,190 a month
4.9% more than 12 months ago

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Providence is in Providence County. The FHA loan limit ($787,750 for a one-unit home), the fair market rents and the help on this page are those of all of Providence County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Providence apart

What this place has that others do not, from public data, most unusual first.

  1. 41% of households in Providence own their home, against 57% in Providence County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Providence

What homes there are in Providence, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Providence there is a bit of everything: no kind of home reaches half. The most common are buildings of 2 to 4 homes (45%), more than in Providence County (30%).

Year built

The typical home in Providence was built before 1940, the oldest group the Census tells apart; 68% of homes date from before 1960.

In Providence, 23% of homes have 1 bedroom or none (studios); 40% have 3 bedrooms or more, against 50% in Providence County.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

By price, most homes in Providence sit under the FHA limit for Providence County ($787,750): about 90%.

Monthly rent with utilities

HUD's 2-bedroom fair market rent (FMR) for Providence County is $1,879; about 73% of rents in Providence are below it.

With a mortgage

$2,100 a month

Providence County: $2,152 a month

Without a mortgage

$893 a month

Providence County: $872 a month

Owners with a mortgage

71%

Providence County: 68%

In Providence, 71% of owners have a mortgage; their typical cost is $2,100 a month, about the same as in Providence County.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

The typical home value in Providence rose 81% since 2015–2019, more than in Providence County (60%).

The typical rent in Providence rose 42% over the same time; in Providence County, it rose 36%.

While home values in Providence changed +81% and rent +42%, the typical household income rose 49%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureProvidenceProvidence CountyRhode IslandUnited States
Rental vacancy 6.1%4.0%4.2%5.5%
Homeowner vacancy 1.1%0.6%0.6%0.9%
More than one person per room 5.0%3.0%2.2%3.4%
People per household 2.472.462.392.53
Drive alone 61%71%72%69%
Carpool 10%9%8%9%
Public transit 4%2%2%3%
Walk or bike 8%4%3%3%
Work from home 14%12%13%15%
Other means 3%3%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

There is more rental housing open in Providence: 6.1% is empty and offered for rent, against 4.0% in Providence County.

In Providence, 5.0% of households live with more than one person per room, against 3.0% in Providence County.

A household in Providence has 2.47 people on average, about the same as in Providence County (2.46).

In Providence, 8% of workers walk or bike to work; in Providence County, 4%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Providence?

A typical home costs more than the typical income allows

We start with a typical home in Providence, worth $362,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 54% of the typical household income in Providence, which is $68,119 a year. For that payment to be 28% of income, a household would need to earn about $132,368 a year.

The calculator's FHA and conventional loan limits are those of all of Providence County.

Your numbers

Local data
$

Starts at the typical home value in Providence. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $12,677 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$3,089

at 7.18% · 30 years

Loan amount
$355,640
Total interest
$511,682
Paid off in
November 2056

Includes $6,117 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,589 a month

  • Tight

    $1,589 to $2,044 a month

  • Hard

    more than $2,044 a month

    Your payment · 54%

Compared with the typical household income in Providence ($68,119 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$3,089
Principal & interest$2,409
Property tax$368
Home insurance$151
FHA mortgage insurance (MIP)$160

You need at least $12,677 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Providence and Providence County

Providence is in Providence County, Rhode Island. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Providence's own numbers

Typical home value
$362,200
Typical monthly rent
$1,408
Typical yearly household income
$68,119
Households that own their home
41%
Effective property tax rate
1.22%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Providence County

FHA limit, one-unit home
$787,750
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,879
Price change over 5 years (FHFA)
+65%
Homes in a high flood-risk zone
0.4%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Providence County.

Everything about Providence County

Buying

Buying a home in Providence

A typical home in Providence is worth $362,200: 3% below the county and 10% below Rhode Island. With the typical household income in Providence ($68,119 a year), a typical home costs 5.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Providence 5.3 years
  • County 4.7 years
  • Rhode Island 4.6 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Providence County

According to FHFA’s house price index, home prices in Providence County rose 116% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Providence County.

Period County Rhode Island U.S.
Last year (2025) +5.3% +5.4% +2.9%
5 years (2020–2025) +65% +65% +47%
10 years (2015–2025) +116% +112% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Providence next to Providence County, Rhode Island and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Providence $362,200
  • County $373,600
  • Rhode Island $404,200
  • United States $332,700
Typical monthly rent
  • Providence $1,408
  • County $1,312
  • Rhode Island $1,342
  • United States $1,413
Typical yearly household income
  • Providence $68,119
  • County $78,787
  • Rhode Island $87,796
  • United States $80,734
See the full table
Providence next to Providence County and Rhode Island
Measure Providence Providence County Rhode Island U.S.
Typical home value $362,200 $373,600 $404,200 $332,700
Typical monthly rent $1,408 $1,312 $1,342 $1,413
Typical yearly household income $68,119 $78,787 $87,796 $80,734
Households that own their home 41% 57% 64% 65%
Typical yearly property tax $4,418 $4,683 $4,900 $3,119
Effective property tax rate 1.22% 1.25% 1.21% 0.94%
Renters with high rent for their income 48% 47% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Providence County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Providence

For a typical $362,200 home in Providence, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Providence's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $3,089a month

    Least cash to close
    Down payment
    $12,677
    Cash to close
    $23,543
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $160

  • Conventional, 5% down $3,022a month

    Down payment
    $18,110
    Cash to close
    $28,976
    Rate
    7.18%
    Mortgage insurance
    PMI · $172

  • Conventional, 20% down, no PMI $2,482a month

    Down payment
    $72,440
    Cash to close
    $83,306
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,817a month

    Down payment
    $54,330
    Cash to close
    $65,196
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Providence and for Providence County.

Property tax

Effective rate in Providence

1.22%of the home’s value each year

$4,418 a year for the typical owner in Providence.

  • Providence 1.22%
  • County 1.25%
  • Rhode Island 1.21%

What Rhode Island publishes Homestead exemption from your city or town (Rhode Island General Assembly (Rhode Island General Laws, Title 44))

Exemptions and deadlines in Rhode Island

Flood risk in Providence County

FEMA does not publish these numbers by city: they are for all of Providence County.

Homes in the high-risk zone
0.4%
649
Of those, with NFIP insurance
58%
County Rhode Island U.S.
Homes in the high-risk zone 0.4% 3.7% 3.5%
Of those, with NFIP insurance 58% 49% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Providence

Typical rent in Providence is $1,408 a month: 7% above the county. In Providence, 48% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Providence County, by unit size. To pay the 2-bedroom one ($1,879 a month) without spending more than 30% of your income, you would need to earn $36.13 an hour working full time.

HUD fair market rent for all of Providence County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,423 $27.37 $56,920
1 bedroom $1,509 $29.02 $60,360
2 bedrooms $1,879 $36.13 $75,160
3 bedrooms $2,302 $44.27 $92,080
4 bedrooms $2,615 $50.29 $104,600

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Providence

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Providence has 8 ZIP codes with their own.

For 2 bedrooms it runs from $1,730 in 02907 to $2,630 in 02903.

4 of the 8 are above the fair market rent for Providence County ($1,879).

  • 02903 $2,630$3,220
  • 02905 $1,810$2,220
  • 02906 $2,500$3,060
  • 02907 $1,730$2,120
  • 02908 $1,850$2,270
  • 02909 $1,940$2,380
  • 02912 $2,510$3,070
  • 02918 $1,850$2,270

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Providence when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Providence

HUD lists 149 buildings with rents for lower incomes in Providence. These are the largest.

  • Hartford Park 335 Hartford Ave, Providence 02909 508 homes, 507 low-income · Run by Housing Authority Providence · Average payment: $513 a month · Average wait: 31 months (401) 751-6400
  • Codding Court 142 Dodge St, Providence 02907 404 low-income homes · Run by Housing Authority Providence · Average payment: $723 a month · Average wait: 32 months (401) 751-6400
  • Chad Brown Providence 02908 375 homes, 373 low-income · Run by Housing Authority Providence · Average payment: $418 a month · Average wait: 32 months (401) 751-6400
  • Three Sisters 1 Valley St, Providence 02909 354 homes, 345 low-income · For older adults (401) 521-4995
  • Manton Heights 43 Salmon St, Providence 02909 330 low-income homes · Run by Housing Authority Providence · Average payment: $520 a month · Average wait: 29 months (401) 751-6400

See all 334 buildings in Providence County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Providence

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There are 5 HUD-approved agencies with an office in Providence County; 5 say they serve in Spanish.

An older woman smiles in front of her apartment building.

HUD counseling is free or low-cost

Assistance programs in Providence

1 program is for Providence or Providence County, by its own record: they come first, each with what its official page says about being open. The ones below are statewide in Rhode Island: they work in Providence the same as in the rest of the state.

Which programs do I qualify for? All programs in Rhode Island

  • FirstGenHomeRI

    For Providence

    Limited funds remain, per the source

    RIHousing pilot help of $25,000 for the down payment or closing costs of first-generation buyers who now live in certain cities; no interest or payments, and not repaid if you live in the home five years. Offered by RIHousing.

    Forgivable

    See the program Official page

  • 15kDPA

    Statewide in Rhode Island

    Rhode Island state agency loan of $15,000 at 0% with no monthly payments for the down payment or closing costs of first-time buyers with a RIHousing mortgage; repaid when you sell or leave the home. Offered by RIHousing.

    Deferred

    See the program Official page

  • Extra Assistance

    Statewide in Rhode Island

    RIHousing second mortgage for first-time buyers, of up to 6% of the price or $20,000 (whichever is less) for the down payment, which you repay over 15 years at the same rate as your RIHousing mortgage. Offered by RIHousing.

    Repayable

    See the program Official page

Housing counselors near Providence

The HUD-approved agencies closest to the center of Providence, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Rhode Island Housing Help Center

    44 Washington St, Providence · 0 miles away · Spanish

    • Mortgage delinquency and default
    (401) 457-1000

  • West Elmwood Housing Development Corporation

    224 Dexter St, Providence · 1 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    (401) 453-3220

  • Providence Housing Authority

    50 Laurel Hill Ave, Providence · 2 miles away · Spanish

    Also serves in American Sign Language (ASL) and Portuguese.

    • Budget and credit workshops
    • Workshops for new owners
    • and 2 more
    (401) 751-6400

Every agency in Providence County All counseling agencies in Rhode Island

Help in Spanish near Providence

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Providence

HUD’s record names them for Providence or Providence County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority Providence Public housing and Section 8 vouchers (401) 751-6400

13 other authorities have an office in Providence County: see the list Source: HUD

Cities

Other cities in Providence County

These cities are also in Providence County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Providence County Housing in Rhode Island

Nearby cities

The cities closest to Providence, with the typical home value.

Neighboring counties

If Providence County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Providence.

All guides
A mother holds her laughing daughter on a grey sofa.

Questions

Housing questions about Providence

Short answers with the numbers for Providence and all of Providence County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Providence?

The typical home value in Providence is $362,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Providence County it is $373,600.

How much does it cost to rent in Providence?

Typical rent in Providence is $1,408 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Providence County is $1,879.

What is the FHA loan limit in Providence?

Providence uses the FHA limit for all of Providence County (2026): $787,750 for a one-unit home and $1,514,950 for a four-unit home.

How much property tax do owners pay in Providence?

The typical homeowner in Providence pays $4,418 a year, according to the U.S. Census Bureau. That is 1.22% of the home’s value; in Providence County, the rate is 1.25%.

Where can I find free help to buy or rent in Providence?

There are 5 HUD-approved counseling agencies with an office in Providence County. 5 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).