Rent Tracker
Rent Inflation in Providence, RI
The average asking rent in Providence, RI is $2,167/month as of 2026-08. That is +4.2% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$2,167/mo
as of 2026-08
Year-over-Year Change
+4.2%
24-Month Rent Trend
Monthly ZORI index values for Providence, RI.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $2,167 | +0.09% |
| 2026-07 | $2,165 | +0.19% |
| 2026-06 | $2,161 | +0.37% |
| 2026-05 | $2,153 | +0.23% |
| 2026-04 | $2,148 | +0.51% |
| 2026-03 | $2,137 | +0.85% |
| 2026-02 | $2,119 | +0.71% |
| 2026-01 | $2,104 | +0.24% |
| 2025-12 | $2,099 | +0.33% |
| 2025-11 | $2,092 | +0.38% |
| 2025-10 | $2,084 | +0.39% |
| 2025-09 | $2,076 | -0.14% |
| 2025-08 | $2,079 | -0.48% |
| 2025-07 | $2,089 | -0.05% |
| 2025-06 | $2,090 | +0.58% |
| 2025-05 | $2,078 | +1.22% |
| 2025-04 | $2,053 | +0.64% |
| 2025-03 | $2,040 | +0.89% |
| 2025-02 | $2,022 | +0.45% |
| 2025-01 | $2,013 | +0.75% |
| 2024-12 | $1,998 | +0.45% |
| 2024-11 | $1,989 | +0.15% |
| 2024-10 | $1,986 | -0.05% |
| 2024-09 | $1,987 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
Compare All Cities
Open Full Rent Tracker →Other Cities
Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices