Providence, RI — Momentum Score, Home Values & Best-For

All states·Rhode Island·Providence

Providence County · Providence-Warwick · population 194,706

Providence, RI
Image: Wikipedia · Providence, Rhode Island
OverviewCost of livingMoving guide
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72
Rising
Momentum score · 0–100

Where Providence stands

At or near all-time high.

Median home $429,449
1-year +2.2%
5-yr CAGR +7.0%
vs 5-yr peak -0.0%
Population +0.5%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-03$429k$172k$264k$355k$447k201620182020202220242026

Lifestyle scores

🚶
Walkability
78/100
Very walkable
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
30/100
Minimal transit
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
76/100
Strong remote-work fit
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$2,231/mo$1,522$1,947$2,371202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent140138100120140202220242026

Rent vs buy

Price-to-rent ratio: 16.0
Lean buy

At a 16.0 price-to-rent ratio, Providence is in the 'depends on horizon' zone. Buy if you'll be there 5+ years and value flexibility on the home; rent if you might move, want zero maintenance friction, or expect rates to drop.

How the momentum score breaks down

methodology →
Home YoY
61 · w22%
Home 5-yr CAGR
74 · w22%
Distance from peak
90 · w18%
Population growth
55 · w16%
Rent YoY
75 · w12%
Home 10-yr CAGR
84 · w10%
Long thesis

Providence has held up across the cycle: home values at $429,449 with +7.0% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Providence's bear case is the boring one: the cycle is real and any market that's run hard can stall. Watch for slowing population growth, rising days-on-market, or builder discounts as the early warning signals.

About Providence

Providence is a city in Providence County, Rhode Island, with an estimated population of 194,706. It anchors the Providence-Warwick metro area. The median home value in Providence is $429,449 as of 2026-04, up 2.2% over the last 12 months. Over the last five years, home values have averaged +7.0% annual growth, with prices at or near the 5-year peak. Rents in Providence average $2,231 per month, up 4.5% year-over-year. The composite momentum score is 72 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Healthy 5-year run: +7.0% annualized over 5 years, outpacing US inflation.
●Quiet strength: +2.2% over the trailing year — not a melt-up, but the market is bid.
●Held the highs: currently -0.0% from the 5-year peak — this market refused to give back gains.

▼ Bear case

○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Providence (Wikipedia)

Providence is the capital and most populous city of the U.S. state of Rhode Island. It is the third-most populous city in New England, with a population of 190,934 at the 2020 census. The Providence metropolitan area extends into Massachusetts and has approximately 1.7 million residents, making it the 39th-largest metropolitan area in the U.S. It is the county seat of Providence County.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorBrett Smiley (D)
Area20.58 sq mi
Elevation10 ft
Incorporated (City)November 5, 1832
Motto"What Cheer?"
Density10373.47/sq mi
Named forDivine providence

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Providence County right now.

NWS active alerts (RI)Rhode Island Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Providence County routes NWS alerts; check the state EM portal for non-weather emergencies.

Neighborhoods of Providence

24 tracked · ranked by median home value
1Blackstone$1,010,769+6.8%
2College Hill$972,773+5.5%
3Wayland$868,655+7.0%
4Hope$659,831+5.8%
5Fox Point$595,889+3.4%
6Downtown$549,097+2.8%
7Mount Hope$520,445+2.9%
8Federal Hill$434,284-0.2%
9Elmhurst$433,565+3.1%
10Elmwood$409,335+1.0%
11Mount Pleasant$403,258+2.5%
12West End$400,555+3.9%
13South Elmwood$400,094+2.2%
14Reservoir$392,328+5.1%
15Charles$388,312+1.2%
16Lower South Providence$384,269+3.4%
17Olneyville$384,027+1.5%
18Silverlake$383,367+2.1%
19Washington Park$382,864+1.9%
20Hartford$382,451+2.3%
21Wanskuck$379,030+1.6%
22Manton$376,543+1.5%
23Smith Hill$368,049-11.1%
24Valley$367,849+2.4%

Cities like Providence

Springfield, MO69 · RisingAurora, IL69 · RisingFort Wayne, IN75 · RisingScottsdale, AZ66 · Rising

Run the numbers for Providence

ToolCan I afford Providence?Income → city shortlistToolROI on a Providence rentalCap rate, cash-on-cash, DSCRToolCompare Providence to anywhereSide-by-side up to 3 citiesToolProvidence cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
37° / 22°
avg high / low
Summer (Jul)
82° / 64°
avg high / low
Sunny days/yr
198
~54% of year
Annual precip
48″ rain
30″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Moderate
Tornado
Very low
Wildfire
Very low
Earthquake
Very low
Flood
Moderate

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Local sports teams

Major professional teams the Providence-Warwick area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Providence listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local economy & environment

Humidity
71%
Humid climate
Median household income
$81,800
Rhode Island state median
Top industries (state-level)
HealthcareEducationManufacturing

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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