Insights / Providence

Tight
Heating
Condition and direction
Providence, RI · recomputed daily
Live dashboard ↗

Providence, RI Multifamily Market Read | September 2026

Providence reads Tight and Heating, so landlords have the edge. Asking rents are firming, up 4.1% over the past year (Zillow ZORI, monthly, latest Aug 2026). This brief lays out what the current data shows for Providence, grouped by how often each source updates.

Updated September 20, 2026

Asking rent YoY · monthly
+4.1%
Vacancy · 2024
3.5%
Jobs YoY · monthly
+0.2%

What is moving now (monthly)

Asking rents are firming, up 4.1% over the past year (Zillow ZORI, monthly, latest Aug 2026). Jobs are roughly flat over the past year (BLS, monthly, latest Aug 2026).

The backdrop (yearly, US Census Bureau)

Vacancy was 3.5%, on the low side, a tight rental market, in the 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was heavy, +44.3% in the 2025 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was negative at -0.4 per 1,000 residents in the 2025 count (US Census Bureau).

Rent context

The metro median rent, including utilities, was about $1,396 a month in the 2024 count (US Census Bureau).

What the data shows

Taken together, Providence is Tight and heating: landlords have the edge. The monthly movers, asking rent and jobs, are the live part of the picture, while vacancy, permitting, and migration are yearly snapshots that set the backdrop. MetroSgnl reads the market from public data and shows every figure with its source and cadence. This is market information, not investment advice, and not a recommendation about any property.

Common questions about Providence · answered from the data, updated September 20, 2026

Is the Providence rental market tight or soft right now?

Providence reads Tight right now, so landlords have the edge.

Which way is the Providence market heading?

Providence is heating right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Providence a landlord's or a renter's market?

Providence is a landlord's market right now, because it reads Tight.

What is the vacancy rate in Providence?

Vacancy in Providence is 3.5% in the Jan 2024 count, a yearly snapshot rather than a live monthly signal (US Census Bureau).

How much have Providence rents changed?

Asking rents in Providence are up 4.1% over the past year (Zillow ZORI, monthly, latest Aug 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

“Taylor Swift Tax” Hits Providence: 350+ Non-Owner Occupied Luxury Properties Get Billed to Fund Low-Income HousingRINewsToday
Foulkes targets political “fatigue,” GOP after sweeping gubernatorial primary winProvidence Business News
In Rhode Island's Dem primary, DSA challenger unseats Providence mayor who'd vetoed rent controlReason Magazine
As R.I. races to build new housing, existing affordable units are a growing problemProvidence Business News
Boosting R.I. housing includes saving what’s already hereProvidence Business News
After soccer, Tidewater’s real test?Providence Business News
See all Providence news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.

Methodology ↗ · All insights ↗