Insights / Providence
Providence, RI Multifamily Market Read | August 2026
Providence reads Firm and Mixed, so landlords have the edge. Asking rents are firming, up 3.5% over the past year (Zillow ZORI, monthly, latest Jun 2026). This brief lays out what the current data shows for Providence, grouped by how often each source updates.
Updated August 5, 2026
What is moving now (monthly)
Asking rents are firming, up 3.5% over the past year (Zillow ZORI, monthly, latest Jun 2026). Jobs are roughly flat over the past year (BLS, monthly, latest Jun 2026).
The backdrop (yearly, US Census Bureau)
Vacancy was 3.5%, on the low side, a tight rental market, in the Jan 2024 count (US Census Bureau). This is a yearly snapshot, not a monthly signal. New permitting was heavy, +44.3% in the Jan 2024 count (US Census Bureau, building permits). A standing yearly figure, not a live signal. Net migration was positive at +0.0 per 1,000 residents in the Jan 2024 count (US Census Bureau).
Rent context
The metro median rent is about $1,396 a month (US Census Bureau, yearly).
What the data shows
Taken together, Providence is Firm and mixed: 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.
Is the Providence rental market tight or soft right now?
Providence reads Firm right now, so landlords have the edge.
Which way is the Providence market heading?
Providence is mixed 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 Firm.
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 3.5% over the past year (Zillow ZORI, monthly, latest Jun 2026).
Data: Zillow ZORI, BLS, US Census Bureau, Redfin, FRED, and the MetroSgnl news feed. Updated daily. Market information only, not investment advice.