Cheap Apartments for Rent in Providence, RI from $500 (148 Rentals)

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

property at 20 Social St

20 Social St

ProvidenceRI02904
property at 126 Waterman St

126 Waterman St

ProvidenceRI02906
property at 387 Branch Ave

387 Branch Ave

ProvidenceRI02904
property at 19 Joy St

19 Joy St

ProvidenceRI02908
property at 509 Washington St

509 Washington St

ProvidenceRI02903
property at 54 Sutton St

54 Sutton St

ProvidenceRI02903
Showing Results 1-50, Page 1 of 3

Providence, RI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Providence, RI

Pricing Updated: 03/26/2025

Current apartment rentals in the Providence, RI area range in price from $700 to $24,465 with an overall median price of $3,786. The three Providence neighborhoods with the lowest median rent pricing are Reservoir at $1,575, Silver Lake at $1,500, and Linwood at $1,400. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Providence Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Reservoir$2,100$1,57511
Silver Lake$2,150$1,50036
Linwood$2,375$1,40019
South Elmwood$2,400$1,9005
Elmwood$2,422$1,57552
Washington Park$2,500$1,90022
Mount Pleasant$2,550$1,60044
Warwick West Warwick$2,700$1,245822
Lower South Providence$2,750$95047
Hartford$2,875$1,375496

Cheapest Available Providence Apartments for Rent

 

The cheapest available apartment rental in Providence, RI is a 1 Bed unit found at Paragon Mill in the Manton neighborhood priced from $1,003. Angell Street Apartments in the College Hill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,075. Here is today’s list of the most affordable Providence apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Paragon Mill1BR 1BA1BR,1BA$1,003
Angell Street Apartments292 Roommate Wanted1BR,1BA$1,075
The Case-Mead LoftsMicroloftStudio,1BA$1,300
244 Bowen StStudioStudio,1BA$1,375
Parkway Apartments1 bed 1 bath1BR,1BA$1,450
110 Benefit Street Apartment HomesStudioStudio,1BA$1,465
Dean EstatesOne Bedroom1BR,1BA$1,475
Hillside Terrace Apartments1x1b1BR,1BA$1,500
The StudleyMurphy Bed StudioStudio,1BA$1,500

Best Value Apartments for Rent in Providence, RI

As of March 26, 2025 the best value apartment in the Providence area is the $1.13 price per square foot 167 Walnut St Model at 167 Walnut St, Unit 1 in the in the Outer East Bay neighborhood starting from $2,600. The second greatest value Providence apartment is the 33 Paisley St Model at 33 Paisley St, Unit 1 starting at $2,500 with a $1.25 price per square foot in the Downtown Pawtucket neighborhood. Here is today’s list of the best values for Providence apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
167 Walnut St, Unit 1167 Walnut St3BR,1BA$1.13
33 Paisley St, Unit 133 Paisley St4BR,2BA$1.25
Westminster LoftsStudioStudio ,1BA$0.89
Paragon Mill3BR 2BA3BR,2BA$1.54
US Rubber Lofts2 Bed 1.5 Bath2BR,1.5BA$1.67
522 York Ave, Unit 2522 York Ave3BR,1BA$1.50
The Lofts at Pontiac MillsOne Bedroom - Standard1BR,1BA$1.31
Douglas Apartments-An Active Adult Community2x1 Renovated2BR,1BA$1.58
57 East Ave, Unit 1 st floor57 East Ave2BR,1BA$1.64
101 Sisson St, Unit 101 Sisson Street101 Sisson St1BR,1BA$1.63

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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Providence Overview

Rhode Island’s capital and New England’s third-largest city, Providence combines big city amenities with small town livability. The city’s transformation into a destination for smart, passionate artists and artisans sees it regularly outperform cities like Boston and New York in quality of life--whether that’s outstanding food or internationally recognized arts events. Providence’s storied history, thriving arts scene and robust nightlife make it a strong draw for creatives of all stripes, and its world-class schools—including Brown University and Rhode Island School of Design—ensure the constant influx of new and exciting people and ideas. Life in Providence apartments is truly an experience to be had!

Why live in Providence, RI?

Providence is one of the most dynamic, affordable cities on the East Coast. Its location means you can work in downtown Boston but live in Providence apartments at a fraction of the price--and still have a shorter, easier commute than many Boston residents! Its food scene is consistently ranked among the best in the nation. The culture is as exciting, diverse, and fun as you could expect from a big city. And whether you know it or not, Rhode Island has the best beaches in New England (yes, they’re even better than Cape Cod)!

Providence, RI
Population: 179,335

Ranked #144

in US Census Population by City

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Pet Friendly Lifestyle

Ranked #

Pet Friendliness Lifestyle Score

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Providence, RI Rentals by Map

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See the most popular apartments and homes in Providence, RI

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Getting Around Providence, RI

Walk Score®

84 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

65 / 100

Bikeable

Some bike infrastructure

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Providence Apartments

What is a cheap apartment in Providence?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Providence is under $1,500.

What is the price of a cheap apartment in Providence?

The cheapest apartment in Providence is Paragon Mill which is listed at $1,003, while the average apartment in Providence costs $3,786.

What types of apartments are the cheapest in 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 3,012 regular apartments in 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 Providence?

Cheap apartments in Providence have an average cost of $372 which is $3,414 cheaper than the average rent for all rentals in Providence.

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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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

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