The Fair Market Rent in Rhode Island ranges from $1,075 for a 2-bedroom apartment in Providence-Fall River, RI-MA HUD Metro FMR Area to $1,419 for a 2-bedroom unit in Newport-Middleton-Portsmouth, RI … After selecting the desired geography, the user is provided a page containing a summary of how the FY 2019 FMRs were developed and updated starting with the formation of the … This is why HomeSnacks set out to determine the top ten most affordable places in Rhode Island … The median single-family home in Newport is $563,000, among the highest in Rhode Island, skewed by multi-million mansions. Learn more. FY 2019 rates are effective from October 2018 to September 2019. The GINI for Rhode Island was lower than than the national average of 0.478. Find Narragansett apartments, condos, town homes, single family homes and much more on Trulia. Manhattan has the highest average of any U.S. city while Wichita, Kansas, has the lowest. Curious about listings in your area? Providence Rhode Island Residential Rent and Rental Statistics The median monthly gross residential rent in Providence, RI (the Providence-New Bedford-Fall River metro area) was $1,003 in 2019 according to the Census ACS survey. The percent change ranged from a 1.1 percent decrease in Georgia and Iowa to a 7.0 percent increase in California. Zillow rent index data for single-family residences was not available for Nevada and Rhode Island, so rent list price was used instead. The total number of households is 410,489 with 2 people per household on average.The median age of the current population is 44 with 407,815 people being married and 492,447 being single. According to the Census ACS 1-year survey, the median household income for Rhode Island was $71,169 in 2019, the latest figures available. Rent in Rhode Island is the fifth-highest of all the states, which is bad news for the 40 percent of Rhode Islanders who rent their homes. Rhode Island Real Estate Values & Housing Market Data. Rhode Island's coast is lined with resorts noted for their swimming and boating facilities. Sun-worshippers can bake on the more than a hundred public and private beaches in the state. Mean prices in 2019: all housing units: $270,384; detached houses: $269,995; townhouses or other attached units: $283,617; in 2-unit structures: $203,920; in 3-to-4-unit structures: $324,962; in 5-or-more-unit structures: $269,708; mobile homes: $68,000 Median gross rent in 2019: $1,179. For example, if the cost of living is 90, then it is 10% lower than average. Rhode Island cost of living is 110.6 Approximately 15% of Americans qualify for some level of housing assistance. You can calculate the renter fraction in Rhode Island in at least two ways: by housing units or by population. $1,958. In California, the state with the highest median rent, the average estimated income in Q2 2019 was $85,750. Meanwhile, West Virginia, the state with the lowest median rent, had an average income of $59,999, nearly $20,000 below the national average. Average Rent. Date(s) & Update Frequency: Home Values, Rents: Reflects Q3 2020. The fraction of median Rhode Island household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 20.42%. Check out our apartments near you for more details!. With over thirty islands throughout Narragansett Bay and Rhode Island, dozens of waterside towns and harbors embrace visiting yachtsmen from all over. Rhode Island market trends and housing statistics. Click on a region to view more detailed rent data. Occupational Employment and Wages in Providence-Warwick — May 2019 Workers in the Providence-Warwick, RI-MA Metropolitan Statistical Area had an average (mean) hourly wage of $26.89 in May 2019, about 5 percent above the nationwide average of $25.72. Methodology: GOBankingRates determined the average rent in every state by sourcing Zillow’s rent index for single-family residences, which tracks median monthly rents from January to June 2019, and calculating the average for this six-month period. There are currently 3,286 homes for sale in Rhode Island. 1 Average gross rent in Washington County was $1,073 in 2019. The cost of living index is based on a national average of 100. Illinois Residential Rent and Rental Statistics The median monthly gross residential rent in Illinois was $1,020 in 2019 according to the Census ACS survey. Rhode Island Household Income. The GINI for Rhode Island was lower than than the national average of 0.478. The average size for a Providence, RI apartment is 812 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Amenities: Modern kitchen with dishwasher, stainless-steel appliances, island… ET, until further notice. Average Rent Y-o-Y Change; Boston: $3,139-9%: Worcester: $1,434: 3%: Cambridge: $2,967-7%: Providence: $1,958: 4%: Pawtucket : n/a: n/a For FY 2019, the Newport-Middleton-Portsmouth, RI HUD Metro FMR Area (Newport County) rent for a studio or efficiency is $918 per month and $2,420 per month to rent a house or an apartment with 4 bedrooms. At $1,019, nominal average gross rent in Rhode Island was at its highest level in 2019 since the series began in 2005. The median monthly gross residential rent in Washington County RI was $1,254 in 2019 according to the Census ACS survey. Approximately 15% of Americans qualify for some level of housing assistance. Rhode Island Housing Market Insights Popular Cities in Rhode Island The Fair Market Rent in Rhode Island In 2019, rent per capita for Rhode Island was 1,995 US dollars. Providence Rhode Island Residential Rent and Rental Statistics. The average estimated income in the U.S. was $79,834 in the second quarter (Q2) of 2019, according to Experian data. Additionally, the average nightly price of house rentals in Rhode Island is $592, and the average size is 1,920 ft².Moreover, house rentals are great for large groups, as most can welcome 9 people. The trick, however, is to know how to navigate this New England state's above average cost of living. From a 2016 post peak low of 4.57%, the rental vacancy rate has increased by 2.41%. United Way 2-1-1 in Rhode Island is a 24/7 social and human services helpline that offers free and confidential referrals Rhode Island Economy at a Glance: Fair Market Rent is the 40th-percentile of typical rentals in a given region. A cost of living index above 100 means Rhode Island, Rhode Island is more expensive. Check out Rhode Island Cities, Rhode Island Neighborhoods and Rhode Island Zip Codes for more details on verified listings, including the Rhode Island Average Rent. 812 sq. For FY 2019, the Newport-Middleton-Portsmouth, RI HUD Metro FMR Area (Newport County) rent for a studio or efficiency is $918 per month and $2,420 per month to rent a house or an apartment with 4 bedrooms. 1 Average gross rent was $1,019 in 2019. An amount below 100 means Rhode Island is cheaper than the US average. Free Consultation: 401-300-4055. Rhode Island is neither a road nor an island; and what the state lacks in size, it makes up for in affordable places to live.. 1-2 Beds; 1 Bath; 640 - 932 Sq.Ft. Newport. The most affordable neighborhoods in Charleston are Four Mile Hibernian, where the average rent goes for $1,109/month, Rosemont, where renters pay $1,109/mo on average, and Air Harbor - Geddes Hall, where the average rent goes for $1,149/mo. The median monthly gross residential rent in Rhode Island was $1,043 in 2019 according to the Census ACS survey.1 Average gross rent was $1,019 in 2019. Our cost of living indices are based on a US average of 100. The population in The median monthly gross residential rent in Rhode Island was $1,043 in 2019 according to the Census ACS survey. Income inequality had a 0.34% growth from 2018 to 2019, which means that wage distribution grew somewhat less even. … The guide contains information on rental assistance programs, affordable housing listings, and tips to save you time. So, there are around 157,885 people in Rhode Island who could be receiving housing benefits from the HUD. To get vaccinated, you must confirm you are part of an eligible group, either online or over the phone when booking. Apply Today! The rental vacancy rate in Rhode Island peaked in 2010 at 9.47%. Read our analysis of rents by state to see how Georgia ranks. average value in 2019 ranged from $570 per acre in New Mexico to $15,600 in Rhode Island. In other words, wages are distributed more evenly in Rhode Island in comparison to … National average rent price trends. In 2019, the income inequality in Rhode Island was 0.448 according to the GINI calculation of the wage distribution. Rhode Island is vaccinating people against COVID-19. All data used to conduct this study was compiled and verified on Sept. 16, 2019. 2019 Tax Rates; 2018 Tax Rates; 2017 Tax Rates; 2016 Tax Rates ; 2015 Tax Rates; 2014 Tax Rates; 2013 Tax Rates; Resources. Newport-Middleton-Portsmouth, RI HUD Metro FMR Area. At $1,043, nominal median gross rent in Rhode Island was at its highest level in 2019 since the series began in 2005. Since then it has fallen by 2.49% to 6.98%. Providence Rhode Island Trulia Real Estate! Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency. Average Apartment Size. ↩, 2. Check out Rhode Island Cities, Rhode Island Neighborhoods and Rhode Island Zip Codes for more details on verified listings, including the Rhode Island Average Rent.. For Rhode Island, median monthly gross rent as a fraction of median household income was 17.59% in 2019 according to the ACS. The average utility allowance across all voucher recipients is $162. FMR is primarily used to determine the standard payment amounts for the Housing Choice Voucher program, rents for section 8 housing contracts and deciding payment amounts for other government housing assistance programs. Curious about listings in your area? For more information about the Woonsocket rental trends, check out our monthly rent report. Toggle navigation. Source & Methodology × Analytics built by: Location, Inc. The income provided by a Rhode Island rental property can be a great way to increase your monthly cash flow. Western Hills. In 2019, the income inequality in Rhode Island was 0.448 according to the GINI calculation of the wage distribution. Updated quarterly. Search For Rent Senior Housing Section 8 Housing View Local Info . Manhattan has the highest average of any U.S. city while Wichita, Kansas, has the lowest. The median list price in Rhode Island is $365,000 and the average price per square foot is $186. The average rent for two-bedroom apartments is about $904 per . The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. Home ; RI; $0. A cost of living index above 100 means Rhode Island, Rhode Island is more expensive. Whether you're spending a week in historical Bristol or fishing out of the Pt. Data on deptofnumbers.com is for informational purposes only. ft. $1,315 - $1,565. In comparison, both two-bedroom and three-bedroom units are both up by nearly five percent.