Providence, RI
- Overview
- Performance
- Listings
- Buy Box
Key Performance Metrics
Market snapshotPerformance indicators for the Providence short-term rental market based on reliable data.
Listings
1196 / 5012
Reliable / Active
Cap Rate
9%
Middle-Earners Gross Yield
Revenue
$35,755
Middle-Earners Revenue
Occupancy
61%
Middle-Earners Occupancy
Home Value
$416,930
Median Home Sale Price
Top Earners
$69,970
Top-Earners Revenue
Providence
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Providence.
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Generally Investor friendly
Providence Regulations
Providence clearly allows STRs with a defined regulatory framework, permitting owner-occupied STRs citywide and non-owner-occupied in most zones. The $25 state registration fee and Temporary Use Permit process are manageable, though the zoning restrictions limiting non-owner-occupied STRs in lower-density areas (R1-R3) and multi-layered state/local compliance requirements create moderate operational complexity that investors can navigate.
Local STR Agent
STR specialist · Providence, RI
About Providence
Providence, Rhode Island, is the capital and most populous city in the state, with a population of approximately 190,000 residents. It is situated roughly 50 miles south of Boston, Massachusetts, positioning it within a convenient distance for travelers looking to explore New England.
Providence boasts a rich history and a vibrant arts scene, making it an appealing destination for short-term rentals. Key landmarks include WaterFire, a renowned urban sculpture installation consisting of partial bonfires on the city's rivers (more information at WaterFire Providence), and the historic Benefit Street, known for its well-preserved Colonial and Federal architecture.
The city is also home to prestigious institutions such as Brown University and the Rhode Island School of Design (RISD), both of which contribute to the dynamic cultural landscape. Brown University's campus can be explored here, and more on RISD can be found here.
Providence's location near the coast of Narragansett Bay offers opportunities for water activities and waterfront dining. Furthermore, visitors can enjoy the diverse culinary scene in Federal Hill, a neighborhood often referred to as the "Little Italy" of Providence.
Overall, Providence strikes a balance between historical charm and contemporary allure, making it well-suited for travelers seeking unique short-term rental experiences.