Market Snapshot
- Median listing price
- $380K
- Median rent
- $2,000/mo
- Days on market
- 71 days
- Gross rental yield
- 6.32%
- STR vs LTR
- $2,742/mo STR · $2,000/mo LTR
The median listing price in Providence, RI ZIP 02907 is $380,000 as of July 2026.
The median market rent in Providence, RI ZIP 02907 is $2,000/month as of July 2026.
The median days on market in Providence, RI ZIP 02907 is 71 days as of July 2026. The market is currently hot.
At a median list price of $380,000 and a median rent of $2,000/month, the gross rental yield in Providence, RI ZIP 02907 is 6.32% as of July 2026.
In Providence, RI ZIP 02907, median Airbnb revenue is $2,742/month compared to median long-term rent of $2,000/month as of July 2026.
Providence, RI 02907 Real Estate Market Report
ZIP Code: 02907
Report Date: July 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates in Providence, RI, are averaging approximately 6.8%, reflecting a high-rate environment compared to earlier 2026 levels.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The primary market indicator, median sold price, is 355,000, which represents the neighborhood's recent transaction-level market value and, when combined with a median days on market of 71, suggests a slower sales velocity and potential pricing friction in some segments.
- Pricing momentum is positive: year-over-year price trend is up and the market temperature is hot, which together indicate continued upward pressure on transaction prices despite slower days on market.
- Price per unit area and rental context: the neighborhood's median price per square foot is 157 while median market rent is 2,000, providing a clear snapshot of valuation and rent levels that market participants should use for comparative pricing and underwriting assumptions.
- Financial and supply-side conditions remain mixed: interest rate pressure is elevated and current 30-year fixed mortgage rates in Providence are averaging approximately 6.8%, while the analyzed sample indicates relatively constrained active supply versus recent sales, which may sustain seller advantage in well-presented listings but could also prolong time-to-contract for less competitive properties.
Notable Properties
The following 7 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Quick sale indicating strong buyer demand and competitive market conditions.
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.58% rate, 0.8% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 7/28/2026
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