Most Affordable Neighborhoods in Providence, RI
Some of the cheapest neighborhoods in Providence are Mt Hope, West End Providence, and Federal Hill. These neighborhoods offer some of the lowest rent prices in Providence, making them ideal for renters on a budget. As of September 14, 2025, the average rent in Providence is $2,052, which is 0.3% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Mt Hope
Average Rent
$1,762/Month
Year-Over-Year Rent Change
12.3%
TransitScore® Rating
55/100
Units Available
15 Rentals
If you’re looking for a great, affordable neighborhood in Providence, Mt Hope might be the perfect place! It has an average rent price of $1,762, while the city’s average stands at $2,052. In the last year, prices have decreased by 12.3%. Mt Hope is near Shaws Plaza, Providence Children's Museum, and Woonasquatucket River Greenway - Riverside Park.
West End Providence
Average Rent
$1,891/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
53/100
Units Available
17 Rentals
West End Providence offers budget-friendly living with diverse dining and shopping options. Dexter Training Ground provides a spacious park with playgrounds and sports fields. Broad Street features an array of international restaurants and local shops.
Federal Hill
Average Rent
$1,937/Month
Year-Over-Year Rent Change
2.8%
TransitScore® Rating
67/100
Units Available
15 Rentals
Federal Hill provides cost-effective housing in a lively area known for its culinary scene. Atwells Avenue features numerous Italian restaurants, cafes, and specialty shops. DePasquale Square, with its beautiful fountain, serves as a charming gathering spot.
College Hill
Average Rent
$1,986/Month
Year-Over-Year Rent Change
2.2%
TransitScore® Rating
67/100
Units Available
33 Rentals
College Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in College Hill is $1,986 while the city average is $2,052. This is a 2.2% difference from last year. Residents enjoy convenient access to Woonasquatucket River Greenway - Riverside Park, Roger Williams National Memorial, and Johnson & Wales Univ Downcity. The neighborhood is considered walkable with a WalkScore® of 93.
Olneyville
Average Rent
$2,258/Month
Year-Over-Year Rent Change
4.2%
TransitScore® Rating
47/100
Units Available
11 Rentals
Olneyville attracts budget-conscious renters with its artistic vibe and local amenities. Riverside Park offers green spaces and a bike path along the Woonasquatucket River. The neighborhood’s local breweries and art spaces create a dynamic atmosphere.
Fox Point
Average Rent
$2,281/Month
Year-Over-Year Rent Change
3%
TransitScore® Rating
54/100
Units Available
11 Rentals
Fox Point provides cost-effective living with a historic flair and scenic waterfront views. India Point Park offers walking paths, picnic areas, and stunning views of Narragansett Bay. Wickenden Street boasts unique shops and eateries, adding to the neighborhood's appeal.
Broadway Historic District
Average Rent
$2,289/Month
TransitScore® Rating
62/100
Units Available
44 Rentals
When you’re looking for a great Providence neighborhood on a budget, check out Broadway Historic District. The average rent is $2,289, compared to the city average of $2,052. Broadway Historic District is convenient to Rhode Island School of Design, Eagle Square, and Providence Children's Museum. The community is walkable with a WalkScore® of 96.
East Side
Average Rent
$2,304/Month
Year-Over-Year Rent Change
1.3%
TransitScore® Rating
54/100
Units Available
93 Rentals
East Side is an affordable neighborhood in Providence with an average rent price of $2,304. Compare this to the city average of $2,052. In the past year, rent prices have decreased by 1.3%. East Side provides easy access to Roger Williams Park Zoo, North Main Center, and Brown University. It’s a walkable neighborhood with a WalkScore® of 89.
Downcity
Average Rent
$2,318/Month
Year-Over-Year Rent Change
0.4%
TransitScore® Rating
50/100
Units Available
202 Rentals
If you’re looking for a great, affordable neighborhood in Providence, Downcity might be the perfect place! It has an average rent price of $2,318, while the city’s average stands at $2,052. In the last year, prices have increased by 0.4%. Downcity is near 680 Douglas Plaza, Providence Children's Museum, and Roger Williams National Memorial.
Smith Hill
Average Rent
$2,439/Month
Year-Over-Year Rent Change
3.7%
TransitScore® Rating
60/100
Units Available
28 Rentals
Smith Hill is a top choice for budget-conscious renters for a variety of reasons. The average rent in Smith Hill is $2,439 while the city average is $2,052. This is a 3.7% difference from last year. Residents enjoy convenient access to Woonasquatucket River Greenway - Riverside Park, Ladd Observatory, and Providence Place. The neighborhood is considered walkable with a WalkScore® of 89.
Ready to make your move to Providence? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.