Cheap Apartments for Rent in Providence, RI from $500 (178 Rentals)

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Search the lowest-cost Apartments available for rent right now in Providence.

property at 85 Vinton St

85 Vinton St

ProvidenceRI02909

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

Read Article
property at 81-83 America St

81-83 America St

ProvidenceRI02903

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

Read Article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

Read Article
property at 98 Knight St

98 Knight St

ProvidenceRI02909

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 4

Providence, RI Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Providence, RI

Pricing Updated: 09/07/2025

Current apartment rentals in the Providence, RI area range in price from $720 to $44,000 with an overall median price of $4,616. The three Providence neighborhoods with the lowest median rent pricing are Valley at $1,350, Linwood at $1,600, and Mount Pleasant at $1,795. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Providence Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Valley$1,950$1,35017
Linwood$2,225$1,6005
Mount Pleasant$2,250$1,79514
Lower South Providence$2,300$1,39916
Washington Park$2,300$98318
Outer Downcity East Side$2,750$1,10034
West End Providence$2,800$1,05066
Elmwood$2,950$2,0256
Federal Hill$2,975$1,05093
Olneyville$2,975$1,05042

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 Studley in the College Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,150. 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 StudleyMurphy Bed StudioStudio,1BA$1,150
The Presley ApartmentsCozy StudioStudio,1BA$1,295
Royale ApartmentsStudioStudio,1BA$1,395

Best Value Apartments for Rent in Providence, RI

As of September 08, 2025 the best value apartment in the Providence area is the $0.46 price per square foot 83 Terrace Ave Model at 83 Terrace Ave, Unit 1 in the in the South Elmwood neighborhood starting from $1,700. The second greatest value Providence apartment is the 48 Grove St Model at 48 Grove St, Unit 5 - Penthouse starting at $2,295 with a $1.02 price per square foot in the Darlington 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.
83 Terrace Ave, Unit 183 Terrace Ave1BR,1BA$0.46
48 Grove St, Unit 5 - Penthouse48 Grove St3BR,1BA$1.02
205 Waterman Ave, Unit 2ND205 Waterman Ave4BR,3BA$1.56
50 Hope St, Unit 350 Hope St2BR,1.5BA$1.31
61 Cypress St, Unit 261 Cypress St3BR,1BA$1.50
49 Lynch St, Unit 349 Lynch St4BR,1BA$1.61
The Lofts at Pontiac MillsOne Bedroom - Standard1BR,1BA$1.31
435 Walcott St, Unit 3435 Walcott St3BR,1BA$1.53
433 Walcott St, Unit 2433 Walcott St2BR,1BA$1.56
7 Barnes St, Unit 27 Barnes St2BR,1BA$1.58

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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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Providence, RI Apartments Map
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Providence, RI Rental Homes Map

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 a cheap apartment in Providence?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Providence is under $1,395.

What is the price of a cheap apartment in Providence?

The cheapest apartment in Providence is 339-343 Thayer St which is listed at $950, while the average apartment in Providence costs $4,616.

What types of apartments are the cheapest in Providence?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 319 regular apartments in Providence that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.