Cheap Apartments for Rent in Providence, RI from $500 (184 Rentals)

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property at 186 Carpenter St

186 Carpenter St

ProvidenceRI02903
Showing Results 1-50, Page 1 of 4

Providence, RI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Providence, RI

Pricing Updated: 07/24/2025

Current apartment rentals in the Providence, RI area range in price from $700 to $18,000 with an overall median price of $4,001. The three Providence neighborhoods with the lowest median rent pricing are Mount Pleasant at $800, Outer Downcity East Side at $1,650, and Valley at $1,350. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Providence Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Mount Pleasant$800$8001
Outer Downcity East Side$1,800$1,6502
Valley$2,000$1,3502
Federal Hill$2,245$1,8993
Olneyville$2,272$2,0004
South Elmwood$2,700$2,7001
West End Providence$2,700$9003
Elmwood$2,775$9003
Lower South Providence$2,799$1,8994
East Mansfield$2,850$1,7005

Cheapest Available Providence Apartments for Rent

 

The cheapest available apartment rental in Providence, RI is a 1 Bed unit found at 339-343 Thayer St in the College Hill neighborhood priced from $950. The Presley Apartments in the Warwick West Warwick neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,295. Here is today’s list of the most affordable Providence apartments for rent:

Apartment ListingModel NameBed/BathPriced From
339-343 Thayer St4 Bed1BR,1BA$950
The Presley ApartmentsCozy StudioStudio,1BA$1,295
The Case-Mead LoftsMicroloftStudio,1BA$1,375
Landings on the Trail Apartment HomesStudioStudio,1BA$1,375
Royale ApartmentsStudioStudio,1BA$1,395
Parkway ApartmentsStudio Newly RenovatedStudio,1BA$1,395
Wayland Manor ApartmentsStudioStudio,1BA$1,400

Best Value Apartments for Rent in Providence, RI

As of July 24, 2025 the best value apartment in the Providence area is the $1.25 price per square foot 292 Douglas Ave Model at 292 Douglas Ave, Unit 1st Floor in the in the Manton neighborhood starting from $2,000. The second greatest value Providence apartment is the 3BR 2BA Model at Paragon Mill starting at $2,425 with a $1.54 price per square foot in the Manton neighborhood. Here is today’s list of the best values for Providence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
292 Douglas Ave, Unit 1st Floor292 Douglas Ave2BR,1BA$1.25
Paragon Mill3BR 2BA3BR,2BA$1.54
The Lofts at Pontiac MillsOne Bedroom - Standard1BR,1BA$1.31
187 Carnation St, Unit 1187 Carnation St2BR,1BA$1.46
172 Division St, Unit 2 nd floor172 Division St3BR,1BA$1.50
61 Pembroke Ave, Unit 161 Pembroke Ave3BR,1BA$1.56
110 Capital St, Unit 2110 Capital St2BR,1BA$1.41
33 Tingley St, Unit 2R33 Tingley St1BR,1BA$1.60
54 Woodman St, Unit Apartment 254 Woodman StStudio ,1.5BA$1.20
47 Sheldon St, Unit 2A47 Sheldon St1BR,1BA$1.20

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Providence Overview

Rhode Island’s capital and New England’s third-largest city, Providence combines big city amenities with small town livability. The city’s transformation into a destination for smart, passionate artists and artisans sees it regularly outperform cities like Boston and New York in quality of life--whether that’s outstanding food or internationally recognized arts events. Providence’s storied history, thriving arts scene and robust nightlife make it a strong draw for creatives of all stripes, and its world-class schools—including Brown University and Rhode Island School of Design—ensure the constant influx of new and exciting people and ideas. Life in Providence apartments is truly an experience to be had!

Why live in Providence, RI?

Providence is one of the most dynamic, affordable cities on the East Coast. Its location means you can work in downtown Boston but live in Providence apartments at a fraction of the price--and still have a shorter, easier commute than many Boston residents! Its food scene is consistently ranked among the best in the nation. The culture is as exciting, diverse, and fun as you could expect from a big city. And whether you know it or not, Rhode Island has the best beaches in New England (yes, they’re even better than Cape Cod)!

Providence, RI
Population: 179,335

Ranked #144

in US Census Population by City

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Pet Friendly Lifestyle

Ranked #

Among cities in Rhode Island for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Providence, RI Rentals by Map

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See the most popular apartments and homes in Providence, RI

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Getting Around Providence, RI

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

65 / 100

Bikeable

Some bike infrastructure

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Providence Apartments

What is the Cheapest Studio apartment in Providence?

Currently the most affordable Cheap Studio Apartment in Providence is at The Presley Apartments listed at $1,295.

How much is rent for a Cheap One Bedroom Providence Apartment?

The lowest price for a Cheap One Bedroom Providence Apartment is $950 at 339-343 Thayer St.

What is the lowest price for a Cheap Two Bedroom Providence Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Providence is starting from $1,650 at Westwood Manor.

What is the most affordable Providence Three Bedroom Apartment?

The best deal on a cheap Providence Three Bedroom Apartment rental is at Paragon Mill and starts from $2,425.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.