Providence home values
Providence at a glance
- Zillow’s Home Value Index puts the typical home at $397,400 (Aug 2026), +1.7% over the past 12 months and +34% over five years.
- The Census median home value in Providence is about $301,500 — about the same as Rhode Island overall and 11% below the U.S. median.
- Median household income is about $60,400; median rent about $1,260/month.
- Neighborhood values range from $284K to $366K across 4 distinct ZIP codes.
Providence home value trend
Over the 12 months to Aug 2026, typical home values in Providence rose 1.7%, to about $397,400. That is in step with Rhode Island (+1.7%). Values are at or near their highest level on record in this series. Over five years the typical home gained $100,400 in value (+34%).
Year-by-year values
| Month | Typical value | Change vs year before |
|---|---|---|
| Aug 2026 | $397,400 | +1.7% |
| Aug 2025 | $390,700 | +2.0% |
| Aug 2024 | $383,000 | +10.1% |
| Aug 2023 | $348,000 | +4.5% |
| Aug 2022 | $333,100 | +12.1% |
| Aug 2021 | $297,000 | +20.2% |
| Aug 2020 | $247,100 | +8.6% |
| Aug 2019 | $227,500 | +6.0% |
| Aug 2018 | $214,700 | +13.1% |
| Aug 2017 | $189,800 | +9.9% |
| Aug 2016 | $172,800 | — |
Source: Zillow Home Value Index (ZHVI), typical value of mid-tier homes, smoothed & seasonally adjusted. Areas with several ZIPs: population-weighted.
About Providence
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: en.wikipedia.org (CC BY-SA)
Providence home value score
from local value, rent & income
In Providence (4 ZIPs), rents are moderate relative to prices, and homes are moderately priced against local incomes.
How the Value Score is built
Computed figures
A transparent value snapshot — computed from U.S. Census ACS (2023) for Providence (4 ZIPs): home value, gross rent and household income. It is not a market-timing or appreciation forecast.
Providence neighborhoods compared
| Name | Home value | 1-yr | Income | Rent | Price / income |
|---|---|---|---|---|---|
| Charles city data | — | — | — | — | — |
| College Hill city data | — | — | — | — | — |
| Downtown (Downcity) city data | — | — | — | — | — |
| Elmhurst | — | — | — | — | — |
| Federal Hill | — | — | — | — | — |
| Fox Point city data | — | — | — | — | — |
| Hope | — | — | — | — | — |
| Jewelry District | $366K | −0.5% | $63K | $1,640 | 5.8× |
| Manton ZIP 02909 · shared | $284K | +2.5% | $64K | $1,258 | 4.4× |
| Mount Hope | — | — | — | — | — |
| Mount Pleasant ZIP 02909 · shared | $284K | +2.5% | $64K | $1,258 | 4.4× |
| Olneyville ZIP 02909 · shared | $284K | +2.5% | $64K | $1,258 | 4.4× |
| Silver Lake ZIP 02909 · shared | $284K | +2.5% | $64K | $1,258 | 4.4× |
| Smith Hill | — | — | — | — | — |
| South Elmwood city data | — | — | — | — | — |
| Valley | $301K | +1.0% | $46K | $1,118 | 6.5× |
| Wanskuck | $302K | +2.1% | $65K | $1,217 | 4.7× |
| Washington Park city data | — | — | — | — | — |
| Wayland city data | — | — | — | — | — |
| West End city data | — | — | — | — | — |
Home value, income and rent: Census ACS medians; 1-yr: Zillow ZHVI change over 12 months. Tap a column heading to sort.
Providence vs Rhode Island and the U.S.
| Providence | Rhode Island | U.S. | |
|---|---|---|---|
| Typical value (Zillow, Aug 2026) | $397,400 | $397,400 | — |
| 1-year change | +1.7% | +1.7% | — |
| 5-year change | +34% | +34% | — |
| Median home value (Census) | $301,500 | $301,500 | $340,200 |
| Median household income | $60,400 | $60,400 | $78,500 |
| Median gross rent | $1,260/mo | $1,260/mo | $1,406/mo |
| Price-to-income ratio | 5.0× | 5.0× | 4.3× |
| Gross rental yield | 5.0% | 5.0% | 5.0% |
| Rent as share of income | 25% | 25% | 21% |
| Mortgage payment* | $1,525/mo | $1,525/mo | $1,720/mo |
Census figures: U.S. Census Bureau ACS 5-year estimates; areas spanning several ZIPs use population-weighted averages of ZIP medians, and city/state columns cover the ZIPs of the places listed on this site. Zillow: ZHVI. *Principal & interest on the Census median value, 20% down, 6.5% fixed, 30 years.
What it costs to buy a home in Providence
At today’s typical value of $397,400 (Zillow, Aug 2026), a buyer putting 20% down ($79,480) and financing the rest at 6.5% over 30 years would pay about $2,009 a month in principal and interest — 40% of the median household income here. That is well above the common 28% guideline, so buying here typically takes an above-median income, a larger down payment or existing equity. The median rent is $1,260/month, so owning costs roughly 59% more per month than renting, before taxes, insurance and upkeep — the trade-off is building equity.
Estimate only: excludes property tax, insurance, HOA and PMI, which vary by property. Incomes and rents are the latest Census (ACS 2023) figures. Run your own numbers in the estimator below.
What this means for buyers, sellers and investors in Providence
Buyers
At 5.0× local income, prices are moderate — compare a few nearby areas before committing.
Sellers
Values are up 1.7% on the year, so recent sales support your price — and get a home-specific estimate: condition and size move the number more than the area average.
Investors
A gross rental yield of 5.0% is middling — returns depend on buying below the typical price or adding value.
Providence real estate FAQ
Are home prices going up in Providence?
What is the typical home value in Providence?
Is Providence affordable?
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Is Providence good for rental property investment?
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Where are home values rising fastest in Providence?
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What’s your Providence home worth?
Estimates are informational only and are not an appraisal.
About this data
Data last updated: September 2026.
Current values and trends use the Zillow Home Value Index (ZHVI) — the typical value of mid-tier homes, smoothed and seasonally adjusted — through Aug 2026. It is refreshed monthly.
Median values, incomes, rents, housing stock and commutes come from the U.S. Census Bureau’s American Community Survey (ACS) 5-year estimates at ZIP Code Tabulation Area level. City and state figures are population-weighted averages of their ZIPs.
The Value Score (0–10) blends gross rental yield and price-to-income affordability. It is a value snapshot, not a forecast.
Mortgage figures assume 20% down and a 6.5% fixed 30-year loan, principal and interest only.
These are area-level statistics, not an appraisal of any individual property, and not financial advice.
Sources: U.S. Census ACS · Zillow ZHVI.