Providence County, Rhode Island Housing Market
In Providence County, Rhode Island, the median home value is $373,600, with a median monthly rent of $1,312. This places Providence County at #358 nationally out of 3134 counties by median home value, and #4 within Rhode Island.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,347
- Establishments: 24,392
- BLS QCEW, 2025
Housing Supply
- Single-family: 258
- Multi-family: 770
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 281,398 (avg $75,911)
- Outflow: 277,375 (avg $76,430)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Providence County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 02907 | 491.7 | +20.50% | 2025 |
| 2 | 02915 | 333.2 | +5.10% | 2025 |
| 3 | 02908 | 378.0 | +4.14% | 2025 |
| 4 | 02909 | 429.4 | +4.45% | 2025 |
| 5 | 02910 | 351.3 | +6.61% | 2025 |
| 6 | 02860 | 345.1 | +6.33% | 2025 |
| 7 | 02906 | 342.2 | -0.88% | 2025 |
| 8 | 02920 | 333.9 | +5.20% | 2025 |
| 9 | 02857 | 293.1 | +5.87% | 2025 |
| 10 | 02895 | 317.1 | +7.98% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Providence County Compares
| Metric | Providence County | Rhode Island Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $373,600 | $474,800 | $227,706 |
| Median Gross Rent | $1,312 | $1,441 | $968 |
| Owner Occupancy Rate | 56.9% | 69.4% | 73.3% |
| Price/Rent Ratio | 23.7 | 27.3 | 18.7 |
Market Analysis
The median home value in Providence County is 21.3% below the Rhode Island state average and 64.1% above the U.S. national average. The median rent of $1,312/month is 9.0% below the state average.
With a price-to-rent ratio of 23.7, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Providence County has an owner-occupancy rate of 56.9%, compared to 69.4% in Rhode Island and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Transylvania County | North Carolina | $373,600 | $967 |
| Washtenaw County | Michigan | $374,100 | $1,463 |
| Jefferson County | Oregon | $374,200 | $941 |
| Fort Bend County | Texas | $374,500 | $1,807 |
| Franklin County | Idaho | $372,600 | $894 |
Other Counties in Rhode Island
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Kent County | $366,100 | $1,327 | 73.1% |
| Washington County | $510,800 | $1,327 | 77.5% |
| Bristol County | $513,800 | $1,528 | 71.8% |
| Newport County | $609,700 | $1,713 | 67.9% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).