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Featured local agent — Providence, RI
Sarah Mitchell
Compass Real Estate · Providence, RI
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Providence, RI Housing Market & Real Estate
Housing market overview · Updated monthly ·
$559,000median sale price
How is the Providence, RI housing market right now?
The median home sale price in Providence, RI is $559,000, up 3.5% year-over-year. Homes sell in an average of 34 days with 279 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Providence a buyer's or seller's market?
Providence, RI is currently a seller's market, based on 2.5 months of supply and homes selling in about 34 days. How we determine this →
Homes sold
113
Last 12 weeks
Days on market
34
Average pace
Active listings
279
2.5 months supply
Sale-to-list
100.6%
Above asking
What does the Providence housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $559,000 |
| Median list price | $582,450 |
| Year-over-year price change | +3.5% |
| Average days on market | 34 days |
| Active inventory | 279 listings |
| Months of supply | 2.5 months |
| Sale-to-list price ratio | 100.6% |
| Median price per sq ft | $264/sq ft |
| Homes sold (latest month) | 113 |
| New listings (latest month) | 182 |
| Listings with a price cut | 27.6% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Providence by property type?
How the Providence, RI market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $450,000 | $294/sq ft | 43 | 34 days |
| Condo / Co-op | $539,000 | $405/sq ft | 25 | 42 days |
| Townhouse | $435,000 | $232/sq ft | 1 | 40 days |
Source: Redfin · Updated monthly
The Providence housing market is currently classified as a seller's market with a median sale price of $559,000. Prices have risen 3.5% compared to last year, with homes spending an average of 34 days on market, indicating 2.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 6.6x provides context for how home values compare to local earning capacity.
Homes for sale in Providence
There are currently 279 homes listed for sale in Providence, Rhode Island. The median listing price is $582K.
Active listings
279
Homes on market
Median list price
$582K
Avg. days on market
34
Days until sale
New this week
182
Newly listed
Who lives in Providence?
Population
190,214
Median income
$66,772/yr
Median age
32.9 years
Owner-occupied
41.2%
College grads
34.7%
Avg commute
25 min
Source: U.S. Census Bureau ACS
What are homes worth in Providence?
Zillow home value
$438,893
Zillow rent index
$2,293/mo
Price-to-rent ratio
15.9x
Price-to-income
6.6x
Source: Zillow Research
What is it like to live in Providence?
Providence is a community of approximately 190K residents with a median age of 32.9 years.The median household income is $66,772, which represents a working-class community with solid middle-income opportunities. 34.7% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 41.2%, showing a blend of owner and renter-occupied properties. The average commute time is 25 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Providence offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Providence?
50 schools tracked · 24,383 students
The largest public schools serving Providence, RI by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Classical High School
Grades 9-12 · 1,119 students
Mount Pleasant High
Grades 9-12 · 1,113 students
Central High School
Grades 9-12 · 1,019 students
Hope High School
Grades 9-12 · 819 students
Nathanael Greene Middle
Grades 6-8 · 803 students
Metropolitan Career Tech Ctr
Grades 9-12 · 791 students
Providence Career Technical
Grades 9-12 · 711 students
Nathan Bishop Middle
Grades 6-8 · 669 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Providence, RI?
Want a head-to-head view? Compare Providence side-by-side with any other U.S. city using our market-comparison tool.
Is Providence a good real estate investment market?
For investors evaluating Providence, the price-to-rent ratio of 15.9x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 3.5% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Providence's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Providence's median home price.
Frequently asked questions
What is the average home price in Providence?
The median home sale price in Providence is $559,000, up 3.5% from last year.
How long do homes stay on market in Providence?
Homes typically spend 34 days on market before going under contract.
What is the median income in Providence?
The median household income is $66,772 per year.
Is Providence a buyer's or seller's market?
With 2.5 months of supply, Providence is currently a seller's market.
What is the Zillow home value estimate for Providence?
The Zillow Home Value Index (ZHVI) for Providence is $438,893, representing the typical home value in the area.
What is the median condo price in Providence?
The median condo/co-op sale price in Providence, RI is $539,000, compared to $450,000 for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Providence?
The median single-family home price in Providence, RI is $450,000 (about $294 per square foot).
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