Landlord Resources
How to Get a Loan for a Rental Property
Rental property loans differ from traditional mortgages, needing larger down payments, higher interest rates, and reserves, often disregarding projected rental income.
•11 min read
What to Know About
Living in Rhode Island
Rhode Island, a small state with a big personality, is renowned for its unique history, coastal charm, and delectable cuisine. The capital of Rhode Island is Providence, home to several prestigious universities such as Brown University, Rhode Island School of Design, and the University of Rhode Island. Discover its fascinating legacy by visiting notable museums, including the opulent Newport Mansions or the enlightening Roger Williams Park Museum of Natural History. A mix of booming tourism, manufacturing, and healthcare industries drives Rhode Island's economy, creating a diverse and thriving community.
Rhode Island offers an abundance of activities for outdoor enthusiasts or culture seekers. Sail or fish along the scenic coast, hit the slopes for skiing in the nearby mountains, or attend exciting college sports games at one of its esteemed universities. Explore attractions like the iconic Newport Cliff Walk, Blithewold Mansion, Gardens & Arboretum, and picturesque Narragansett Bay.
With its rich history, charming coastline, and flourishing economy, Rhode Island is an excellent place to call home for those who seek outdoor recreation, a unique cultural experience, and a high quality of life.
Rental Market Trends
Rhode Island
As of June 2026, Rhode Island's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Rhode Island's average rent is 16.1% ($289) higher than the U.S. average of $1,797.
Average Rent
$2,086
Monthly ChangeMonth Over Month Change
1% ($20)
Yearly ChangeYear Over Year Change
1.2% ($24)
Avg. Days on MarketAverage Days on Market
28
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $1,826 | 8.7% ($175) | 2.6% ($48) |
| 2 Beds | $2,122 | 8.7% ($203) | 2.5% ($55) |
| 3 Beds | $2,490 | 8.8% ($239) | 2.5% ($65) |
| Top Markets in Rhode Island | Average Rent | Avg. Rent vs. RIAverage Rent vs. Rhode Island | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Providence | $2,278 | 9.2% ($192) | 28 days |
| Pawtucket | $1,661 | 20.4% ($425) | 24 days |
| Woonsocket | $1,530 | 26.7% ($556) | 27 days |
| Cranston | $1,963 | 5.9% ($123) | 24 days |
| Warwick | $2,113 | 1.3% ($27) | 27 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Rhode Island Rental Market FAQs
Explore rental prices, market trends, and availability in Rhode Island.
The average rent in Rhode Island is $2,086 per month.
Homes in Rhode Island typically rent for between $1,278 and $3,237 per month, with an average of $2,086 per month.
In Rhode Island, the average rent for a 1-bedroom home is $1,826 per month, for a 2-bedroom home, $2,122 per month, and a 3-bedroom home is $2,490 per month.
The average rent in Rhode Island is 16.1% ($289) higher than the national average of $1,797 per month.
The average rent in Rhode Island has increased by 1.0% ($20) in the last month and increased by 1.2% ($24) over the past year.
The rental market in Rhode Island, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In Rhode Island, the average rental stays on the market for approximately 28 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
Based on the current averages, a household would need an annual income of $84,880 to comfortably afford a 2-bedroom home in Rhode Island.
