Market Snapshot
- Median listing price
- $435K
- Median rent
- $2,200/mo
- Days on market
- 56 days
- Gross rental yield
- 6.08%
- STR vs LTR
- $1,855/mo STR · $2,200/mo LTR
The median listing price in Providence, RI ZIP 02909 is $434,500 as of July 2026.
The median market rent in Providence, RI ZIP 02909 is $2,200/month as of July 2026.
The median days on market in Providence, RI ZIP 02909 is 56 days as of July 2026. The market is currently hot.
At a median list price of $434,500 and a median rent of $2,200/month, the gross rental yield in Providence, RI ZIP 02909 is 6.08% as of July 2026.
In Providence, RI ZIP 02909, median Airbnb revenue is $1,855/month compared to median long-term rent of $2,200/month as of July 2026.
Providence, RI 02909 Real Estate Market Report
ZIP Code: 02909
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
Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.
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 6.8% compared to the 5.9% average seen when loans originated in January 2026.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The primary market-value signal is the median sold price of 349,000, which, when viewed against the higher median listing price of 434,500, suggests a meaningful spread that may indicate pricing friction between seller expectations and completed transactions in recent SFR and condominium sales.
- The market shows moderate liquidity with a median days on market of 56, which typically suggests slower sales velocity compared with faster-moving segments and may require realistic pricing or concessioning to accelerate transactions.
- Market fundamentals remain strong: year-over-year price trend is up and rent year-over-year trend is up, supported by a median market rent of 2,200, indicating continued demand for both ownership and rental options in the area.
- Interest rate pressure is elevated; current 30-year fixed mortgage rates are 6.8% versus a 5.9% average when loans originated in January 2026, a dynamic that may temper buyer affordability and increase sensitivity to asking prices—this is a negative headwind for pace of sales despite a hot market temperature.
Notable Properties
The following 6 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.
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.
Quick sale indicating strong buyer demand and competitive market conditions.
Sold below market average
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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