2026 Affordability Data
Most Affordable Neighborhoods in Providence - 2026 Data
The median home value in Providence is $265,000, 6% below nat'l avg. Median rent is $1,688/month. With an affordability index of 40, Providence is less affordable than the national baseline of 100. We ranked 7 neighborhoods by affordability to help you find the best value in the Providence, RI area.
Key Takeaways: Affordability in Providence
- 1The most affordable neighborhood in Providence is Cranston, with a median home value of $326,000.
- 2Providence's median home value is $265,000, 6% below nat'l avg (national: $281,900).
- 3Providence's affordability index is 40 (baseline 100), making it less affordable than the national average.
- 4Median rent in Providence is $1,688/month, 45% above nat'l avg (national: $1,163/month).
- 5We analyzed 7 neighborhoods in Providence to find the most affordable areas based on home values, rent, and affordability index.
Providence Affordability Overview
Median Home Value
$265,000
6% below nat'l avg
Median Rent
$1,688/mo
45% above nat'l avg
Median Income
$42,658
43% below nat'l avg
Affordability Index
40
60% below nat'l avg
Most Affordable Neighborhoods in Providence (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | CranstonRI | $326,000 |
| 2 | WoonsocketRI | $241,000 |
| 3 | Central FallsRI | $244,100 |
| 4 | WarwickRI | $294,400 |
| 5 | PawtucketRI | $266,300 |
| 6 | East ProvidenceRI | $286,400 |
| 7 | NewportRI | $520,000 |
Detailed Neighborhood Profiles
Home Value: $326,000
Rent: $1,129/mo
Affordability: 132
Population: 82,691
Walk Score: 41/100
Home Value: $241,000
Rent: $1,129/mo
Affordability: 132
Population: 43,029
Walk Score: 41/100
Home Value: $244,100
Rent: $1,129/mo
Affordability: 132
Population: 22,359
Walk Score: 41/100
4
Home Value: $294,400
Rent: $1,129/mo
Affordability: 132
Population: 82,783
Walk Score: 41/100
5
Home Value: $266,300
Rent: $1,129/mo
Affordability: 132
Population: 75,176
Walk Score: 41/100
6
Home Value: $286,400
Rent: $1,129/mo
Affordability: 132
Population: 47,012
Walk Score: 41/100
7
Home Value: $520,000
Rent: $1,570/mo
Affordability: 56
Population: 24,672
Walk Score: 96/100
Frequently Asked Questions About Affordability in Providence
What is the most affordable neighborhood in Providence, RI?▾
Based on 2026 data, Cranston is the most affordable neighborhood in Providence with a median home value of $326,000. Kurby analyzed 7 neighborhoods in the Providence area to compile these rankings.
What is the median home price in Providence, RI?▾
The median home price in Providence is $265,000, which is 6% below nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Providence affordable compared to the national average?▾
Providence has an affordability index of 40, which means housing is less affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Providence, RI?▾
The median monthly rent in Providence is $1,688. This is 45% above nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Providence?▾
The median household income in Providence is $42,658 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Providence are below the national average home price?▾
3 out of 7 ranked neighborhoods in Providence have a median home value below the national average of $281,900. The most affordable is Woonsocket at $241,000 (Source: Kurby, 2026).