East Providence, Rhode Island Housing Market Prices
East Providence Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 15% below the Rhode Island median$306,958
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Median rent 4% below the Rhode Island median$1,289
Housing Market Overview
| Metric | East Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $306,958 | $360,248 | $248,835 |
| Price Trend (Annual %) | 9.2% | 7.4% | 7.5% |
| Median Gross Rent | $1,289 | $1,341 | $1,407 |
| Rent Trend (Annual %) | 4.5% | 4.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Providence is about 15% lower than in Rhode Island. Rent is about 4% lower than the Rhode Island average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in East Providence, up about 9.2% and 4.5% a year respectively. Home prices are changing faster.
Median rent in East Providence rose about 43.8% between 2015 and 2024, from $896 to $1,289. Over the same span, rent in Rhode Island rose about 45.0%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in East Providence.
Buying the median-priced home in East Providence costs roughly 19.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Providence. The price-to-rent ratio in Rhode Island is about 22.4.
| Metric | East Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Median Home Price | $306,958 | $360,248 | $248,835 |
| Median Household Income | $75,877 | $88,093 | $80,455 |
| Price-to-Income Ratio | 4.0 | 4.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in East Providence rose about 95.1%, while median household income rose about 45.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | East Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.0% | 57.8% | 58.5% |
| Rental Rate | 38.1% | 33.0% | 31.2% |
| Vacancy Rate | 5.0% | 9.1% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
East Providence has a homeownership rate of 57.0%, lower than the Rhode Island average of 57.8%. Its housing vacancy rate is 5.0%, compared with 9.1% in Rhode Island.
Housing Stock
| Metric | East Providence | Rhode Island Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.38 people | 2.53 people |
| Median Structure Built Year | 1957 | 1962 | 1978 |
| Median Number of Rooms | 5.2 | 5.4 | 5.5 |
The typical housing unit in East Providence was built around 1957. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 15.0 years on average.
East Providence, RI Housing Compared With Nearby Cities
East Providence, RI is the smallest of the 4 cities compared here, 47,128 residents against a local median of 82,883. The measure that sets East Providence, RI apart most is median home price: $306,958, 23% above the local median of $250,546.
Homeownership tells the same story from another angle: 59.9% against a local median of 50.1%, 20% above it. The one measure here that carries a verdict is homeownership, and at 20% above the local median it puts East Providence, RI at the better end of the local range. The cities themselves spread $209,831 on median home price, so East Providence, RI sits at one end of an already wide local range rather than apart from it. East Providence, RI has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| East Providence, RI | 47,128 | $306,958 #2/4 | $1,289 #3/4 | 59.9% #2/4 |
| Providence, RI | 191,427 | $426,648 | $1,407 | 41.4% |
| Pawtucket, RI | 75,796 | $250,546 | $1,208 | 50.1% |
| Warwick, RI | 82,883 | $216,817 | $1,363 | 73.3% |
Frequently Asked Questions
Common questions about the housing market in East Providence, Rhode Island.
What is the median home price in East Providence, Rhode Island?
The median home price in East Providence, Rhode Island is $306,958, lower than the Rhode Island average of $360,248.
What is the average home price in East Providence, Rhode Island?
The typical home price in East Providence, Rhode Island, reported as the median sale price, is $306,958. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in East Providence, Rhode Island?
The median gross rent in East Providence, Rhode Island is $1,289 per month, lower than the Rhode Island average of $1,341.
What was the median gross rent in East Providence in 2020?
In 2020, the median gross rent in East Providence, Rhode Island was $988 per month.
What is the price-to-rent ratio in East Providence, Rhode Island?
The price-to-rent ratio in East Providence, Rhode Island is about 19.9, meaning it would take roughly 19.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in East Providence.
Are home prices or rent rising faster in East Providence, Rhode Island?
Both home prices and rent are rising in East Providence, up about 9.2% and 4.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in East Providence, Rhode Island?
57.0% of households in East Providence, Rhode Island own their home, lower than the Rhode Island average of 57.8%.
What is the vacancy rate in East Providence, Rhode Island?
The housing vacancy rate in East Providence, Rhode Island is 5.0%, lower than the Rhode Island average of 9.1%.
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