Cheap Apartments for Rent in the Downtown Providence Neighborhood of Providence, RI from $700 (38 Rentals)

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

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134 Benefit St, Unit 6
$1,700
Total Monthly Price

Total Monthly Price

Base Rent
$1,700
Total Monthly Price
$1,700
Studio Apartment Available Sep 1

134 Benefit St, Unit 6

134 Benefit StProvidence, RI 02903
  • Smoke Free

Your Local Guide to Providence Student Housing: Best Neighborhoods for College Renters

Discover affordable off-campus rentals and the best local neighborhoods for college life, featuring expert tips from a seasoned renter.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Halstead Providence
$2,244 - $3,779
Total Monthly Price

Total Monthly Price

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$2,244 - $3,779
Total Monthly Price
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Studio to 2 Bedroom Apartments Available Now

Halstead Providence

255 Promenade StProvidence, RI 02908
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Emblem 125
Rent Specials
$2,376 - $6,977
Total Monthly Price

Total Monthly Price

Base Rent
$2,376 - $6,977
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

Emblem 125

125 Clifford StProvidence, RI 02903
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From Blue-Collar to Bustling: Discover the Best Affordable Neighborhoods for Renting in Providence

Discover the top 7 affordable and charming neighborhoods in Providence, RI. This local expert's guide helps you find the best value living in the historic New England city.

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Providence Arcade
1 Bedroom Apartments

Providence Arcade

65 Weybosset StProvidence, RI 02903
  • Utilities Included
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296 Benefit St.
Studio to 2 Bedroom Apartments

296 Benefit St.

296 Benefit StProvidence, RI 02903
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The Alice Building
Studio Apartments

The Alice Building

236-250 Westminster StProvidence, RI 02903
  • Utilities Included
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Regency Plaza
Studio to 2 Bedroom Apartments

Regency Plaza

2 Regency PlzProvidence, RI 02903

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Merchant Bank Building
1 to 2 Bedroom Apartments

Merchant Bank Building

20 Westminster StProvidence, RI 02903
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Showing Results 1-38, Page 1 of 1

Downtown Providence, Providence, RI Local Guide

Cheapest Available Downtown Providence Apartments for Rent

 

The cheapest available apartment rental in the Downtown Providence area of Providence, RI is a Studio unit found at 122 Benefit Street Apartment Homes priced from $1,465. 110 Benefit Street Apartment Homes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,465. Here are the most affordable Downtown Providence apartments for rent in Providence, RI:

Apartment ListingModel NameBed/BathPriced From
122 Benefit Street Apartment HomesStudioStudio,1BA$1,465
110 Benefit Street Apartment Homes1 Bedroom 1 Bathroom1BR,1BA$1,465
Case Mead LoftsMicro-LoftStudio,1BA$1,595
FOUND Study College HillEfficiency Studio Main - Providence 26-271BR,1BA$1,675
The StudleyMurphy LoftStudio,1BA$1,760
Regency Plaza1 Bed/1 Bath1BR,1BA$1,885
Nightingale Apartments78dS1a Studio One BathroomStudio,1BA$2,084
G SquareThe Perry1BR,1BA$2,100
308 Benefit St2 BED2BR,1BA$2,100
95 LoftsA51BR,1BA$2,189

Best Value Apartments for Rent in Downtown Providence, RI

As of July 21, 2026 the best value apartment in the Downtown Providence area is the $1.48 price per square foot 1 Bedroom Model at Westminster Lofts in the in the College Hill neighborhood starting from $2,345. The second greatest value Downtown Providence apartment is the 3 Bed Model at 21 Planet St starting at $3,875 with a $3.52 price per square foot in the College Hill neighborhood. Here is today’s list of the best values for Downtown Providence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Westminster Lofts1 Bedroom1BR,1BA$1.48
21 Planet St3 Bed3BR,1BA$3.52
314 Benefit St.2BR2BR,1BA$2.70
308 Benefit St2 BED2BR,1BA$2.10
161 Benefit st/Luxury Residences for Lease1 BED1BR,1BA$2.45
Providence GThe Tiverton2BR,1BA$3.06
Chestnut CommonsPerception2BR,1BA$3.67
Station RowOne Bedroom1BR,1BA$3.70
110 Benefit Street Apartment Homes1 Bedroom 1 Bathroom1BR,1BA$2.93
122 Benefit Street Apartment HomesStudioStudio ,1BA$2.93

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals and neighborhoods across the USA, including Providence. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including searching for the best amenities, and convenient access to the outdoors, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Providence Apartments

What is a cheap apartment in Downtown Providence?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Providence is under $2,189.

What is the price of a cheap apartment in Downtown Providence?

The cheapest apartment in Downtown Providence is 110 Benefit Street Apartment Homes which is listed at $1,465, while the average apartment in Downtown Providence costs $6,000.

What types of apartments are the cheapest in Downtown 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 20 regular apartments in Downtown 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 Downtown Providence?

Cheap apartments in Downtown Providence have an average cost of $299 which is $5,701 cheaper than the average rent for all rentals in Downtown Providence.

Expert Rental Resources

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.

Articles, How-To's, and Tips

decorative image for Your Local Guide to Providence Student Housing: Best Neighborhoods for College Renters article

Your Local Guide to Providence Student Housing: Best Neighborhoods for College Renters

Written by: M. April Tome

Hi, I’m April, your local guide for living in Providence, RI. I attended college in Providence and lived in this great city for many years.

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.