Cheap Apartments for Rent in Providence, RI from $500 (203 Rentals)

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

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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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.

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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.

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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.

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property at 32 Medway St

32 Medway St

ProvidenceRI02906

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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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: 10/15/2025

Current apartment rentals in the Providence, RI area range in price from $700 to $65,000 with an overall median price of $4,335. The three Providence neighborhoods with the lowest median rent pricing are South Elmwood at $1,300, Lower South Providence at $950, and Elmwood at $1,599. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Providence Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
South Elmwood$1,850$1,3008
Lower South Providence$2,000$95017
Elmwood$2,025$1,5998
Mount Pleasant$2,150$1,59514
Reservoir$2,200$1,8505
Silver Lake$2,200$1,4106
Linwood$2,200$8507
Hartford$2,300$1,6505
Outer Downcity East Side$2,400$1,10035
West End Providence$2,500$79573

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
University Heights ApartmentsElmhurstStudio,1BA$1,450

Best Value Apartments for Rent in Providence, RI

As of October 15, 2025 the best value apartment in the Providence area is the $0.17 price per square foot 119 Hanover St Model at 119 Hanover St, Unit 2 in the in the Manton neighborhood starting from $1,700. The second greatest value Providence apartment is the 2 Bed 2 Bath Model at American Wire Residential Lofts starting at $1,955 with a $0.92 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.
119 Hanover St, Unit 2119 Hanover St2BR,1BA$0.17
American Wire Residential Lofts2 Bed 2 Bath2BR,2BA$0.92
37 Mavis St, Unit 237 Mavis St3BR,1BA$1.19
43 Campbell Ter, Unit 243 Campbell Ter3BR,1BA$1.30
49 Pembroke Ave, Unit 349 Pembroke Ave3BR,1BA$1.46
15 Cliff St, Unit 115 Cliff St3BR,1BA$1.35
123 Donelson St, Unit 1123 Donelson St2BR,1BA$1.38
Rumford CenterStudioStudio ,1BA$1.43
284 Veazie St, Unit 2284 Veazie St2BR,1BA$1.48
52 Daniel Ave, Unit 52 Daniel Ave52 Daniel Ave1BR,1BA$1.41

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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 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 $1,450.

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 $4,335.

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 273 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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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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.

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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.