What is the housing market like in Providence, Rhode Island in 2026?
The Providence, Rhode Island housing market is warm in 2026. The median home price is $365,000 (up +4.2% year-over-year), with homes averaging 28 days on market. Providence has emerged as a Boston spillover market, attracting buyers priced out of Greater Boston who are drawn to the city's arts scene, RISD-influenced design culture, and Amtrak access to NYC and Boston. Historic Victorian homes sell briskly in the desirable East Side.
Key Statistics
Providence, RI — Housing Market Overview
Providence, RI
Housing Market & Trends
Providence has emerged as a Boston spillover market, attracting buyers priced out of Greater Boston who are drawn to the city's arts scene, RISD-influenced design culture, and Amtrak access to NYC and Boston. Historic Victorian homes sell briskly in the desirable East Side. The median home price in Providence is $365,000, with 2.2 months of inventory and homes selling in an average of 28 days.
Providence Market at a Glance
Providence Market Overview
Understanding the Providence real estate market helps buyers and sellers make informed decisions. Here's a detailed look at current conditions.
Price Trends
Home prices in Providence have increased +4.2% over the past 12 months. The median home price is $365,000, reflecting strong buyer demand.
List-to-Sale Ratio
The average list-to-sale ratio in Providence is 99.0%, meaning homes typically sell slightly below asking price — giving buyers some negotiating room.
Days on Market
Homes in Providence spend an average of 28 days on market. This moderate pace gives buyers time to evaluate while still indicating healthy demand.
Inventory Analysis
Providence currently has 2.2 months of housing inventory. This severe shortage heavily favors sellers and drives prices upward.
Top Neighborhoods in Providence
These are the most sought-after neighborhoods in Providence, Rhode Island. Each offers unique characteristics, amenities, and price points.
East Side
Popular neighborhood in Providence known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Federal Hill
Popular neighborhood in Providence known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
College Hill
Popular neighborhood in Providence known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Fox Point
Popular neighborhood in Providence known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Warwick
Popular neighborhood in Providence known for its community atmosphere and local amenities. Home prices and styles vary, offering options for different budgets.
Providence Affordability Analysis
Median Home Price vs Income
With a median home price of $365,000 and median household income of $42,680, the price-to-income ratio is 8.6x. This suggests affordability challenges for median-income households.
Rent vs Buy Comparison
The median rent in Providence is $1,550/month. At the median home price of $365,000, a typical mortgage payment (20% down, 30yr fixed) would be comparable. Factor in equity building, tax benefits, and appreciation (+4.2% last year) when deciding.
Population & Growth
Providence has a population of 190,934 with +0.3% growth. Growing population supports housing demand and long-term appreciation.
Affordability Index
72
Higher = more affordable (100 = national average)
Market Trend: Warm Market
Providence, Rhode Island — as of 2026
Providence is a warm market with healthy demand and moderate competition. Homes spend an average of 28 days on market with 2.2 months of inventory. Prices have changed +4.2% year-over-year, indicating steady buyer interest without the frenzy of a hot market.
How Virtual Staging Helps in Providence
In a warm market like Providence, staged listings attract more attention and generate stronger offers. Virtual staging at $0.10/photo gives your listing a competitive edge, helping it stand out among active inventory and sell above asking price.
Traditional Staging
- Cost: $2,000-$5,000+/month
- Timeline: Days to arrange
- Flexibility: One style per staging
Virtual Staging
Best Value- Cost: $0.10 per photo
- Timeline: Under 60 seconds
- Flexibility: Unlimited style options
Sell Faster in Providence
Stand out in the Providence warm market with AI virtual staging — just $0.10 per photo, ready in 60 seconds.
Explore More Markets
Providence Housing Market FAQ
What is the housing market like in Providence, Rhode Island in 2026?
The Providence housing market is currently warm. The median home price is $365,000 (up +4.2% year-over-year), with homes spending an average of 28 days on market. There are 2.2 months of inventory, and the list-to-sale ratio is 99.0%.
What is the median home price in Providence?
The median home price in Providence, Rhode Island is $365,000 as of 2026. This represents a +4.2% change compared to the same period last year. The median household income is $42,680, giving the city an affordability index of 72.
Is Providence a good place to buy a home?
Providence is currently a warm market with a median home price of $365,000 and median rent of $1,550. The population is 190,934 with +0.3% growth. The affordability index is 72 (higher is more affordable). Top neighborhoods include East Side, Federal Hill, College Hill.
How fast are homes selling in Providence?
Homes in Providence spend an average of 28 days on market, with a list-to-sale ratio of 99.0%. There are currently 2.2 months of inventory. The market pace gives both buyers and sellers reasonable timelines.
What are the best neighborhoods in Providence?
Top neighborhoods in Providence include East Side, Federal Hill, College Hill, Fox Point, Warwick. Each neighborhood offers different price points, amenities, and lifestyles. Research local schools, commute times, and community features to find the best fit for your needs.
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