East Providence, Rhode Island Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the East Providence, Rhode Island rental market.

East Providence, Rhode Island

Average Apartment Rent

$2,046

Y-o-Y Change in Average
Apartment Rent

4.1%

As of November 2024

Compared to a year ago, East Providence, Rhode Island apartments have recorded a 4.1% rent increase.

East Providence, Rhode Island Average apartment rent trend

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
East Providence $1,689 $1,733 $1,865 $1,951 $1,916 $1,907 $1,965 $1,960 $1,935 $2,046
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
East Providence
National
Nov 2021
$1,689
$1,596
Mar 2022
$1,733
$1,635
Jul 2022
$1,865
$1,708
Nov 2022
$1,951
$1,726
Mar 2023
$1,916
$1,714
Jul 2023
$1,907
$1,739
Nov 2023
$1,965
$1,733
Mar 2024
$1,960
$1,727
Jul 2024
$1,935
$1,752
Nov 2024
$2,046
$1,748

East Providence, Rhode Island Average Apartment Rent

East Providence, Rhode Island Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 47.81%, apartments priced $1,500 - $2,000 represent the bulk of East Providence, Rhode Island rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 7.38%.

East Providence, Rhode Island Housing tenure**

Renter occupied housing units 8,083
Owner occupied housing units 12,327

Renters take up 40% of East Providence, Rhode Island real estate, occupying a total of 8,083 units, while homeowners live in 12,327 properties.

Median number of rooms of renter-occupied housing units**

3.9

Renter median household income**

$37,332

Average household size of renter-occupied housing units**

1.91

Rental vacancy rate**

3%

East Providence, Rhode Island Renter-occupied housing units by no. of bedrooms**

No bedrooms 403
1 bed 3,246
2 beds 3,094
3 beds 1,156
4 beds 169

There are 3,246 rentals in East Providence, Rhode Island with 1 bed making up the highest share of the market, at 40%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 169 units. Overall, the median number of rooms in East Providence, Rhode Island homes for rent is 3.9.

East Providence, Rhode Island Renter-occupied units by age of householder**

15 - 24 years 278
25 - 34 years 1,685
35 - 44 years 1,282
45 - 54 years 1,084
55 - 59 years 468
60 - 64 years 623
65 - 74 years 1,159
75 - 84 years 865
85 years and over 639

Most condos for rent in East Providence, Rhode Island are occupied by residents in the 25 - 34 years age group (21%), followed by those in the 35 - 44 years age group (16%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 3%.

East Providence, Rhode Island Renter-occupied housing units by family type**

Family households 3,102
Non-Family Households 4,981

East Providence, Rhode Island Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 1,635
No related children of the householder under 18 6,448

A total of 3,102 apartments for rent in East Providence, Rhode Island, or 38% of all rentals are family households. Additionally, 20% of rental homes include children under the age of 18 – that’s 1,635 units. All in all, the median size of a renter-occupied household in East Providence, Rhode Island is 1.91.

East Providence, Rhode Island Renter-occupied housing units by educational attainment**

Less than high school graduate 1,345
High school graduate (including equivalency) 2,026
Some college or associate's degree 2,264
Bachelor's degree or higher 2,448

In terms of education, renters holding bachelor degrees or higher make up 30% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in East Providence, Rhode Island.

East Providence, Rhode Island Renter-occupied units by year structure built**

Built 2010 - 2019 418
Built 2000 - 2009 420
Built 1990 - 1999 337
Built 1980 - 1989 761
Built 1970 - 1979 1,274
Built 1960 - 1969 1,387
Built 1950 - 1959 915
Built 1940 - 1949 667
Built 1939 or earlier 1,874

The highest share of East Providence, Rhode Island apartment rentals, namely 23% or 1,874 units, were Built 1939 or earlier, followed by those Built 1960 - 1969 (17%, 1,387 units), and the ones Built 1970 - 1979 (16%, 1,274 units).

East Providence, Rhode Island Renter-occupied units by year householder moved in**

Moved in 2021 or later 411
Moved in 2018 to 2020 2,032
Moved in 2010 to 2017 4,024
Moved in 2000 to 2009 841
Moved in 1990 to 1999 433
Moved in 1989 or earlier 342

Median year renter moved into unit 2015

Most East Providence, Rhode Island renters (50%) moved in 2010 to 2017, while only 4% of them moved in 1989 or earlier. Overall, the median year renters have occupied their East Providence, Rhode Island condos for rent is 2015.

East Providence, Rhode Island Renter-occupied housing units by vehicles available**

No vehicle available 1,498
1 vehicle available 4,609
2 vehicles available 1,662
3 vehicles available 220
4 or more vehicles available 94

When it comes to transportation options, 57% of East Providence, Rhode Island renters have 1 vehicle available per household, 21% of them have 2 vehicles available, and 19% have No vehicle available.

East Providence, Rhode Island Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 4,806
Car, truck, or van - carpooled 791
Public transportation (excluding taxicab) 189
Walked 188
Taxicab, motorcycle, bicycle, or other means 229
Worked at home 603

East Providence, Rhode Island Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 12,023
Moved within same county 1,547
Moved from different county within same state 474
Moved from different state 728
Moved from abroad 210

East Providence, Rhode Island Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all East Providence, Rhode Island apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

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