What HUD offices serve Providence, Rhode Island?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Rhode Island Public Housing and Low-Income Apartments Waiting Lists page for openings near Providence.
How many renters live in Providence, Rhode Island?
The City of Providence has 189,575 people living in 72,767 households.
There are 94,407 renters living in 42,537 renter households in this City. Renters make up 49.8 percent of the population living in Providence.
What is the rental market like in Providence, Rhode Island?
There are an estimated 78,911 housing units in the Providence area. Of these, 45,342 units are rental homes, making up 57 percent of the housing market. For every renter household in Providence, Rhode Island, there are 1 rental units.
What is the vacancy rate for rentals in Providence?
The rental vacancy rate in Providence is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Providence for each bedroom size?
Occupied Rental Units by Size in Providence
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 4,890 | 11,962 | 13,961 | 10,252 | 1,050 |
Occupied Rental Units by Size in Providence
A large number of apartments in Providence have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Providence are overburdened by housing costs?
Among renter households in this market, 47 percent have housing cost burden. Further, 26 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Providence
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,289 to $2,536. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,289 |
| One BR | $1,398 |
| Two BR | $1,693 |
| Three BR | $2,047 |
| Four BR | $2,536 |
2024 Fair Market Rents in Providence, Rhode Island
How many units are rented at Fair Market Rent (FMR) in Providence?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 2,431 | 50 percent |
| One BR | 8,904 | 74 percent |
| Two BR | 8,097 | 58 percent |
Rental Units Below FMR in Providence, Rhode Island
How many affordable rental units are in Providence?
There are a variety of federal affordable housing programs serving households in Providence, Rhode Island including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 5,583 |
| Public Housing | 2,605 |
| Section 8 Project-Based Rental Assistance | 4,476 |
| Mod Rehab Project-Based Rental Assistance | 102 |
| Section 202 Supportive Housing for the Elderly | 181 |
| Section 811 Supportive Housing for Persons with Disabilities | 140 |
Tracked Units by Federal Program in Providence, Rhode Island
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Providence, Rhode Island
Providence features 7,316 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Providence, Rhode Island
There are 2,741 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Providence.
Housing Choice Vouchers in Providence, Rhode Island
On average, Section 8 Housing Choice vouchers pay Providence landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Providence.
The maximum amount a voucher would pay on behalf of a low-income tenant in Providence, Rhode Island for a two-bedroom apartment is between $1,524 and $1,862.
Sourced from federal housing data and AffordableHousingOnline.com research.
