Affordable Housing In Providence
Providence County, Rhode Island

139 Low Income Apartment Communities In Providence

Olmsted Gardens

3 Olmsted Way
Providence, RI
Income Based
1 BR
62+
HCV Welcome

Sutterfield Homes

12 South Ln
Providence, RI
$730-1,097
1-3 BR
HCV Welcome

Hartford Park

300 Hartford Ave
Providence, RI
Call For Rent
1-6 BR
Family & Senior

Carroll Towers

243 Smith St
Providence, RI
Call For Rent
1-3 BR
55+
62+

Parenti Villa

25 Tobey St
Providence, RI
Call For Rent
Studio-2 BR
55+
62+
Accessible

Lockwood Plaza Apartments

50 Prairie Avenue
Providence, RI
$791-1,340
1-4 BR
HCV Welcome

Dexter Manor

100 Broad St
Providence, RI
Call For Rent
1-3 BR
55+
62+
Accessible

Sixty King

60 King St
Providence, RI
Call For Rent
Studio-3 BR
HCV Welcome

Hillcrest Village

40 Leander Street
Providence, RI
Call For Rent
1-2 BR
Subsidized

Hillside Village

825 Plainfield Street
Providence, RI
Call For Rent
1-3 BR
Subsidized

Housing Authorities that serve Providence

Housing Authority Programs
Providence Housing Authority Section 8 Housing Choice Voucher (HCV); Public Housing

Other Housing Authorities located in Providence

Housing Authority Programs
Rhode Island Housing Choice Voucher Program Centralized Wait List Section 8 Housing Choice Voucher (HCV)
Rhode Island Housing Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Providence, Rhode Island

There are 139 low income housing apartment communities offering 10,417 affordable apartments for rent in Providence, Rhode Island. Providence features 7,179 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 3,090 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Providence.

Sourced from federal housing data and AffordableHousingOnline.com research.

Providence, RI Affordable Housing Snapshot

Total Affordable Apartment Properties 139
Total Low Income Apartments 10,417
Total Housing Units with Rental Assistance 7,179
Percentage of Housing Units Occupied By Renters 65.14%
Average Renter Household Size 2.58
Average Household Size 2.68
Median Household Income $37,501 ±$1,625
Median Rent $913 ±$16
Percentage Of Renters Overburdened 50.88% ± 2.17pp
Total Population 178,680

Population and Household Demographics

Providence is a City in Providence County, Rhode Island with a population of 178,680. There are 61,481 households in the city with an average household size of 2.68 persons. 65.14% of households in Providence are renters.

Income and Rent Overburden in Providence

The median gross income for households in Providence is $37,501 a year, or $3,125 a month. The median rent for the city is $913 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Providence, a household making less than $3,043 a month would be considered overburdened when renting an apartment at or above the median rent. 50.88% of households who rent are overburdened in Providence.1

Area Median Income In Providence

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Providence, the AMI is calculated from all households within Providence County.

In Providence, HUD calculates the Area Median Income for a family of four as $81,900

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Providence

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Providence HUD Rental Assistance in Providence

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $17,200 $19,650 $22,100 $25,750 $30,170 $34,590 $39,010 $43,430
50% of Median $28,700 $32,800 $36,900 $40,950 $44,250 $47,550 $50,800 $54,100
80% of Median $45,850 $52,400 $58,950 $65,500 $70,750 $76,000 $81,250 $86,500
Low Income Housing Tax Credits in Providence

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2013, 77 low income apartment communities containing 4,785 rental apartments have been constructed and made affordable to low income persons in Providence by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Providence

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $28,700 $32,800 $36,900 $40,950 $44,250 $47,550 $50,800 $54,100
60% of Median $34,440 $39,360 $44,280 $49,140 $53,100 $57,060 $60,960 $64,920

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Providence is $44,280 a year, or $3,690 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $3,690 by 30% to get a maximum rent of $1,107 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $718 $769 $923 $1,065 $1,189 $1,311
60% $861 $923 $1,107 $1,278 $1,427 $1,574
Fair Market Rents in Providence

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$794 $898 $1,075 $1,340 $1,591