Cheap Apartments for Rent in the Downcity Neighborhood of Providence, RI from $500 (93 Rentals)

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

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Downcity, Providence, RI Local Guide

Cheapest Available Downcity Apartments for Rent

 

The cheapest available apartment rental in the Downcity area of Providence, RI is a 1 Bed unit found at 339-343 Thayer St priced from $950. The Case-Mead Lofts has the second lowest priced unit, which is a Studio apartment currently listed from $1,375. Here are the most affordable Downcity apartments for rent in Providence, RI:

Apartment ListingModel NameBed/BathPriced From
339-343 Thayer St4 Bed1BR,1BA$950
The Case-Mead LoftsMicroloftStudio,1BA$1,375
University Heights ApartmentsElmhurstStudio,1BA$1,500
FOUND Study College HillMain - Efficiency StudioStudio,1BA$1,550
Charles LandingStudioStudio,1BA$1,575
The StudleyStudio1BR,1BA$1,625

Best Value Apartments for Rent in Downcity, RI

As of August 05, 2025 the best value apartment in the Downcity area is the $0.50 price per square foot 83 Terrace Ave Model at 83 Terrace Ave, Unit 1 in the in the Manton neighborhood starting from $1,850. The second greatest value Downcity apartment is the 14 Florence St Model at 14 Florence St, Unit Apt 1 starting at $2,350 with a $1.07 price per square foot in the Manton neighborhood. Here is today’s list of the best values for Downcity apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
83 Terrace Ave, Unit 183 Terrace Ave1BR,1BA$0.50
14 Florence St, Unit Apt 114 Florence St4BR,1BA$1.07
164 Bridgham St, Unit #1164 Bridgham St4BR,1BA$1.50
292 Douglas Ave, Unit 1st Floor292 Douglas Ave2BR,1BA$1.25
Paragon Mill3BR 2BA3BR,2BA$1.54
26 Tyndall Ave, Unit 326 Tyndall Ave3BR,1BA$1.70
61 Cypress St, Unit 261 Cypress St3BR,1BA$1.50
71 Pinehurst Ave, Unit 371 Pinehurst Ave3BR,1BA$1.67
48 Pembroke Ave, Unit 2nd Floor - 48A48 Pembroke Ave3BR,1BA$1.69
61 Pembroke Ave, Unit 161 Pembroke Ave3BR,1BA$1.56

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downcity, Providence, RI

Ranked #28

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downcity, Providence, RI

School data provided by Great Schools

Lifestyle Ratings

Our team of engineers and researchers is happy to bring you Lifestyle Ratings of rentals and neighborhoods across the USA, including Providence. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, transit availability, pet-friendly communities, family-friendly amenities, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downcity Apartments

What is a cheap apartment in Downcity?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downcity is under $1,625.

What is the price of a cheap apartment in Downcity?

The cheapest apartment in Downcity is 339-343 Thayer St which is listed at $950, while the average apartment in Downcity costs $6,475.

What types of apartments are the cheapest in Downcity?

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 91 regular apartments in Downcity 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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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.

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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.

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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.