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 August 2025, 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 13.8% ($247) higher than the U.S. average of $1,790.

Average Rent

$2,037

Monthly ChangeMonth Over Month Change

2.9% ($60)

Yearly ChangeYear Over Year Change

8.6% ($192)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,853	1.7% ($32)	12% ($253)
2 Beds	$2,153	1.7% ($37)	12% ($294)
3 Beds	$2,526	1.7% ($44)	12% ($346)

Top Markets in Rhode Island	Average Rent	Avg. Rent vs. RIAverage Rent vs. Rhode Island	Avg. Days on MarketAverage Days on Market
Providence	$2,262	11% ($225)	28 days
Woonsocket	$1,318	35.3% ($719)	27 days
Pawtucket	$1,669	18.1% ($368)	24 days
Cranston	$1,937	4.9% ($100)	24 days
Central Falls	$1,371	32.7% ($666)	30 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.

What is the average rent in Rhode Island?

The average rent in Rhode Island is $2,037 per month.

What is the rental price range for homes in Rhode Island?

Homes in Rhode Island typically rent for between $1,297 and $3,284 per month, with an average of $2,037 per month.

What is the average rent for different bedroom sizes in Rhode Island?

In Rhode Island, the average rent for a 1-bedroom home is $1,853 per month, for a 2-bedroom home, $2,153 per month, and a 3-bedroom home is $2,526 per month.

How do rent prices in Rhode Island compare with the national average?

The average rent in Rhode Island is 13.8% ($247) higher than the national average of $1,790 per month.

How have rent prices in Rhode Island changed recently?

The average rent in Rhode Island has decreased by 2.9% ($60) in the last month and decreased by 8.6% ($192) over the past year.

How competitive is the rental market in Rhode Island?

The rental market in Rhode Island, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Rhode Island?

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.

Can I afford to rent a home in Rhode Island?

Based on the current averages, a household would need an annual income of $86,120 to comfortably afford a 2-bedroom home in Rhode Island.