Cheap Apartments for Rent in Providence, RI from $500 (188 Rentals)

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

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property at 340 Smith St

340 Smith St

ProvidenceRI02908

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property at 186 Carpenter St

186 Carpenter St

ProvidenceRI02903
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Providence, RI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Providence, RI

Pricing Updated: 06/24/2025

Current apartment rentals in the Providence, RI area range in price from $720 to $25,000 with an overall median price of $4,234. The three Providence neighborhoods with the lowest median rent pricing are Silver Lake at $1,685, Hartford at $1,650, and Linwood at $1,789. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Providence Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Silver Lake$1,950$1,6856
Hartford$2,300$1,6502
Linwood$2,300$1,7893
Elmwood$2,350$1,5005
South Elmwood$2,350$1,8002
Outer Downcity East Side$2,400$1,09519
Reservoir$2,425$1,8005
Warwick West Warwick$2,780$98544
West End Providence$2,800$99553
Lower South Providence$2,850$1,5003

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 $1,350. 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$1,350
The Case-Mead LoftsMicroloftStudio,1BA$1,375
Parkway ApartmentsStudio Newly RenovatedStudio,1BA$1,395
Landings on the Trail Apartment HomesStudioStudio,1BA$1,415
110 Benefit Street Apartment HomesStudioStudio,1BA$1,450
Dean EstatesOne Bedroom1BR,1BA$1,475

Best Value Apartments for Rent in Providence, RI

As of June 24, 2025 the best value apartment in the Providence area is the $1.54 price per square foot 3BR 2BA Model at Paragon Mill in the in the Manton neighborhood starting from $2,425. The second greatest value Providence apartment is the 71 Ayrault St Model at 71 Ayrault St, Unit 3 starting at $2,400 with a $1.60 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.
Paragon Mill3BR 2BA3BR,2BA$1.54
71 Ayrault St, Unit 371 Ayrault St3BR,1BA$1.60
98 Wentworth Ave, Unit 98 Wentworth Ave98 Wentworth Ave2BR,1BA$1.17
185 Oakland Ave, Unit 2185 Oakland Ave3BR,1BA$1.67
55 Pinehurst Ave, Unit 55 pinehurst Ave55 Pinehurst Ave3BR,1BA$1.67
Chateau ChatillonNew Classic 2 Bed Belvedere2BR,2BA$1.56
152 Harrison St152 Harrison St3BR,1BA$1.35
The Lofts at Pontiac MillsOne Bedroom - Standard1BR,1BA$1.31
67 Simmons St, Unit 2ND FLOOR67 Simmons St3BR,1BA$1.50
110 Capital St, Unit 1110 Capital St2BR,1BA$1.64

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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 #

Pet Friendliness Lifestyle Score

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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 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 $1,475.

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 $4,234.

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 320 regular apartments in Providence that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Providence?

Cheap apartments in Providence have an average cost of $370 which is $3,864 cheaper than the average rent for all rentals in Providence.

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 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.

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

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.