Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$522,248+3.6% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 16% have cut their price
Income needed to buy, per year$113,213About 1.4× the local median income ($83,062): a stretch for a typical household
Days on market39 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Providence-Warwick, RI-MA is worth $522,248, up 3.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $436,804, so the area is 19.6% overvalued. It is a balanced market: homes take about 39 days to sell, listings are up 30% from a year ago, 16% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $113,213 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $83,062. Typical rent is $2,166 a month, or $3,044 for a house. In the latest IRS figures, 588 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$522,248
Change in 1 year
+3.6%
Overvalued %
+19.6%
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Fair home value
$436,804
Change in 5 years
+32.6%
Zillow forecast, next 12 months
+2.6%
Home value to income
6.3×
Monthly mortgage payment (20% down)
$2,830
Income needed to afford it
$113,213
Property tax rate
1.15%
Rent and investing
Typical rent
$2,166
Typical rent for houses
$3,044
Price-to-rent ratio
20.1×
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HUD Fair Market Rent, 2 bedrooms
$1,925
Gross rental yield
4.98%
Cap rate (estimate)
3.24%
Market activity
Listings vs a year ago
+29.7%
Days on market
39
Listings with a price cut
16.4%
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Homes for sale
3,066
Pending sales per 100 listings
60
Asking price per sq ft
$357
People and jobs
Median household income
$83,062
Population change (1 year)
+0.4%
Unemployment rate
5.7%
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Population
1,708,161
Income adjusted for cost of living
$81,593
Net moves in (IRS)
−588
Cost of living (US = 100)
101.8
Schools, risk and environment
School rating (1 to 10)
5.3
FEMA hazard risk score (0 to 100)
82.7
Unhealthy air days a year
2
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Flood risk score
89.8
Wildfire risk score
30.5
Walkability (1 to 20)
11.7
Road, rail and air noise
54 dB
Questions people ask
Is Providence-Warwick, RI-MA overvalued?
Home prices in Providence-Warwick, RI-MA are well above what local incomes have historically supported: fair value is about $436,804, so the area is 19.6% overvalued.
Is Providence-Warwick, RI-MA a buyer's or seller's market?
Providence-Warwick, RI-MA is a balanced market: homes take about 39 days to sell, listings are up 30% from a year ago, 16% of listings have had a price cut.
Are home prices going down in Providence-Warwick, RI-MA?
Home values in Providence-Warwick, RI-MA are up 3.6% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Providence-Warwick, RI-MA?
A household needs about $113,213 a year to afford the typical home in Providence-Warwick, RI-MA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $83,062.