Providence multifamily market, October 2026

Landlords have the edge in Providence, and it is heating: asking rents are up 3.9% on a year, while jobs grew 0.2%.

Updated October 30, 2026 · from Zillow, BLS and the US Census Bureau

+3.9%

Asking rent, year over year

Zillow · September 2026

+0.2%

Jobs, year over year

BLS · September 2026, preliminary

3.5%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 3.9% on a year to September 2026, which is the figure the condition is read from. Jobs are up 0.2% over the same year to September 2026, a first release the BLS revises the following month. Asking rents are climbing (September 2026).

The backdrop

These are yearly Census counts, not this month's: 3.5% of rentals sat empty in 2024, permits for new apartments were up 44% in 2025, more people moved out than in in 2025, and the typical rent was $1,396 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Providence

Answered from the data, updated October 30, 2026

Is the Providence rental market tight or soft right now?

In Providence right now, landlords have the edge, and it is heating.

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: landlords have the edge, and it is heating.

What is the vacancy rate in Providence?

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

How much have Providence rents changed?

Asking rents in Providence are up 3.9% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

RI awards $12.7M to cities, towns for housing opportunitiesWPRI.com

State awards $12.5M to boost homeownership across R.I.Providence Business News

Five Questions With: Sally LapidesProvidence Business News

$120M RI housing bond has key critics but it may pass anywayThe Providence Journal

Report: Housing costs continue to outweigh income in RIAOL.com

More pressure on cost-burdened Rhode Islanders, more calls for housingProvidence 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.
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