Cheap Apartments for Rent in the Downtown Providence Neighborhood of Providence, RI from $700 (32 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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Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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280 Benefit St
Studio to 2 Bedroom Apartments

280 Benefit St

280 Benefit StProvidence, RI 02903
Student Housing

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 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
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Merchant Bank Building
1 to 2 Bedroom Apartments

Merchant Bank Building

20 Westminster StProvidence, RI 02903
Furnished
  • Utilities Included
  • Smoke Free

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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Showing Results 1-32, 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 1 Bed unit found at FOUND Study College Hill priced from $1,675. Westminster Lofts has the second lowest priced unit, which is a Studio apartment currently listed from $1,710. Here are the most affordable Downtown Providence apartments for rent in Providence, RI:

Apartment ListingModel NameBed/BathPriced From
FOUND Study College HillEfficiency Studio Main - Providence 26-271BR,1BA$1,675
Westminster LoftsStudioStudio,1BA$1,710
95 LoftsA31BR,1BA$1,857
Regency Plaza1 Bed/1 Bath1BR,1BA$1,885
Providence GThe Bristol1BR,1BA$1,925
Halstead ProvidenceStudio-S S13Studio,1BA$1,975
G SquareThe Perry1BR,1BA$2,100
Nightingale Apartments78dS1 Studio One BathStudio,1BA$2,119
G ReserveThe Santander1BR,1BA$2,231

Best Value Apartments for Rent in Downtown Providence, RI

As of May 31, 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 The Tiverton Model at Providence G starting at $2,450 with a $2.88 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
Providence GThe Tiverton2BR,1BA$2.88
Chestnut CommonsEpoch2BR,2BA$3.30
123 Friendship St, Unit 4C123 Friendship St1BR,1BA$2.81
Station RowOne Bedroom1BR,1BA$3.49
Emblem 1251B1BR,1BA$4.09
95 LoftsB12BR,1BA$4.47
G SquareThe Perry1BR,1BA$4.08
Nightingale Apartments78dS1 Studio One BathStudio ,1BA$4.22
Regency PlazaStudio/1 Bath with Dining AreaStudio ,1BA$3.93

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 $2,231.

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

The cheapest apartment in Downtown Providence is FOUND Study College Hill which is listed at $1,675, 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 9 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 $119 which is $5,881 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

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From Blue-Collar to Bustling: Discover the Best Affordable Neighborhoods for Renting in Providence

Written by: M. April Tome

I’m April, your ApartmentHomeLiving.com Local Export for Providence, RI. Providence is the capital of Rhode Island. It is a bustling city with a small-town New England vibe.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.