Cheap Apartments for Rent in the Downcity Neighborhood of Providence, RI from $500 (88 Rentals)

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

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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property at 457 Admiral St

457 Admiral St

ProvidenceRI02908

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

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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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Copley Chambers
Studio to 2 Bedroom Apartments

Copley Chambers

228 Broad StProvidence, RI 02903
  • Utilities Included
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9 Euclid Ave
1 to 6 Bedroom Apartments

9 Euclid Ave

9 Euclid AveProvidence, RI 02906
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East Side Apartments
Studio to 1 Bedroom Apartments

East Side Apartments

83 Doyle AveProvidence, RI 02904
Senior Living
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382 Brook St
1 to 4 Bedroom Apartments

382 Brook St

382 Brook StProvidence, RI 02906
Furnished

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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 Studio unit found at 112 Waterman St priced from $1,450. University Heights Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,485. Here are the most affordable Downcity apartments for rent in Providence, RI:

Apartment ListingModel NameBed/BathPriced From
112 Waterman StStudioStudio,1BA$1,450
University Heights ApartmentsElmhurstStudio,1BA$1,485
The Case-Mead LoftsMicroloftStudio,1BA$1,540
Douglas Apartments-An Active Adult Community1x1 Renovated1BR,1BA$1,550
Charles LandingStudioStudio,1BA$1,550
FOUND Study College HillMain - Efficiency StudioStudio,1BA$1,595
The 870 ReserveStudioStudio,1BA$1,595
Bell Tower PlaceStudioStudio,1BA$1,600
Westwood Manor2 Beds, 1 bath2BR,1BA$1,650

Best Value Apartments for Rent in Downcity, RI

As of December 03, 2025 the best value apartment in the Downcity area is the $1.25 price per square foot 31 Heath St Model at 31 Heath St, Unit 2nd and 3rd floor 6 bed in the in the Manton neighborhood starting from $2,375. The second greatest value Downcity apartment is the 406 Cahill St Model at 406 Cahill St, Unit 1 starting at $2,100 with a $1.13 price per square foot in the Upper South Providence 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.
31 Heath St, Unit 2nd and 3rd floor 6 bed31 Heath St6BR,1BA$1.25
406 Cahill St, Unit 1406 Cahill St2BR,1BA$1.13
38 Williams St, Unit 1st floor38 Williams St3BR,1.5BA$1.40
46 Pembroke Ave, Unit 4646 Pembroke Ave3BR,1BA$1.43
117 Hanover St, Unit 1117 Hanover St3BR,1BA$1.63
37 Hudson St, Unit Apt 137 Hudson St2BR,1BA$1.42
Hillside Terrace Apartments2x1g2BR,1BA$1.67
25 Fallon Ave, Unit 125 Fallon Ave3BR,1BA$1.71
313 Branch Ave, Unit 313 Branch Ave. Apt #1313 Branch Ave2BR,1BA$1.62
US Rubber Lofts1 Bed 1 Bath1BR,1BA$1.71

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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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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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Downcity, Providence, RI

Ranked #1

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 $1,650.

What is the price of a cheap apartment in Downcity?

The cheapest apartment in Downcity is Douglas Apartments-An Active Adult Community which is listed at $1,550, while the average apartment in Downcity costs $3,587.

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 24 regular apartments in Downcity 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 Downcity?

Cheap apartments in Downcity have an average cost of $315 which is $3,272 cheaper than the average rent for all rentals in Downcity.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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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.