Providence, RI
Population 190,214 · Rhode Island
About Providence, RI
Providence is a major city located in Rhode Island with a population of 190,214 residents according to the latest US Census Bureau American Community Survey data. The median household income is $66,772 per year, which is 11% below the national median of $75,149. The median age of 32.9 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Providence features a median home value of $322,800, which is 32% above the national median of $244,900. This positions Providence in a moderately priced market relative to the rest of the country. Median monthly rent is $1,333, 15% above the national average of $1,163/month. Of the 79,275 total housing units, 41% are owner-occupied (28,952 units) and 59% are renter-occupied (41,361 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Providence shows an unemployment rate of 7.4%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 20.1%, above the national average of 12.4%. Workers in Providence have an average one-way commute time of 25 minutes.
Education & Demographics
34.7% of Providence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 1.6% White, 2.1% Hispanic or Latino, 6.8% Black or African American, and 35.6% Asian residents, with 32.8% of the population being foreign-born.
How Providence Ranks in Rhode Island
Cost of Living in Providence, RI
Compared to national averages, Providence has a median household income of $66,772 (11% below the national median of $75,149). Home values average $322,800, which is 32% above the national median. Monthly rent at $1,333 is 15% above the US average of $1,163. Within Rhode Island, Providence's income is 28% below the state average of $92,962, and home values are 31% below the state median of $469,914.
Why Live in Providence, RI?
Providence offers a well-educated community where 34.7% of residents hold a bachelor’s degree or higher.
Potential considerations include median household income ($66,772) that falls below the national average. However, as a major city, Providence provides access to a wide range of amenities and services.
Providence has a population of 190,214 with a median age of 32.9 years. Compare Providence with other cities to see how it stacks up, or explore all cities in Rhode Island.
Similar Cities Near Providence
Cities in Rhode Island with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Warwick | 82,871 | $87,536 | $322,000 | Compare |
| Cranston | 82,632 | $87,716 | $348,800 | Compare |
| Pawtucket | 75,280 | $67,436 | $286,200 | Compare |
| East Providence | 46,970 | $79,660 | $322,100 | Compare |
| Woonsocket | 43,074 | $58,614 | $268,000 | Compare |
| Newport | 25,029 | $83,562 | $669,500 | Compare |
| Central Falls | 22,481 | $45,921 | $300,500 | Compare |
| Westerly | 18,528 | $82,333 | $400,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Rhode Island
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Providence With Other Cities
Frequently Asked Questions about Providence
What is the population of Providence, RI?
The population of Providence, RI is 190,214 according to the latest US Census Bureau American Community Survey estimates. This makes it a major city in Rhode Island.
What is the median household income in Providence?
The median household income in Providence, RI is $66,772 per year, which is 11% below the national median of $75,149.
What is the median home value in Providence?
The median home value in Providence, RI is $322,800, which is 32% above the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Providence?
The median monthly rent in Providence, RI is $1,333, which is 15% above the national average of $1,163/month.
What is the unemployment rate in Providence?
The unemployment rate in Providence, RI is 7.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Providence, RI a good place to live?
Providence offers a moderate cost of living, a competitive housing market, and growing employment opportunities. With a population of 190,214 and a median age of 32.9, the city appeals to young professionals and families.
How educated is Providence, RI?
34.7% of residents in Providence aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Providence?
Key cost-of-living indicators for Providence, RI: median home value is $322,800 (32% above national), median rent is $1,333/month, and median household income is $66,772. The home-value-to-income ratio is 4.8x, a moderate figure by national standards.
What is the poverty rate in Providence?
The poverty rate in Providence, RI is 20.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Providence, RI?
Providence's population is 1.6% White, 2.1% Hispanic or Latino, 6.8% Black or African American, 35.6% Asian, and 11.3% two or more races. 32.8% of residents are foreign-born.